QLD Help! Brisbane area for $350k

hello!
I’m looking for my first investment (I have bought my own place in Sydney) around Brisbane for $350k.
Early days but I met with a property broker who advised a new Griffin townhouse, similar in Brown Plains, or a new one bed apartment in Nundah.

While the areas seen okay, I’m unsure about any of these as the strata worries for a new apartment put me off, and there seem to be a lot of new townhouses around those areas and the ones for sale now a few years old are way less than $350k plus there are lots to rent.

He said I should only buy new, obv for tax benefits.

- What are your thoughts, and are there any buyers agents you can recommend who would work with my small budget?

Thanks!

 

Ditch that broker/BA. He's terrible, clueless and unethical.

 

Run a mile! All those suggestions are terrible and most likely the property broker is getting a huge kickback from the developer.

Lot's of great options in Brisbane at the moment for 350k. I'd be looking for a free standing house so you own your own land, no pesky strata fees, special levies or body corp issues which eat into yield anyway. Look for something you can buy under market value then add value via a simple renovation.

Any of these bought brand new you will be paying a premium and there is virtually no way you can add value or improve value in the future - Griffin townhouse, similar in Brown Plains, or a new one bed apartment in Nundah.

 

I agree with all of the above except:

Strata isn't as bad as what @My House QLD wants to make out. Paying most levies equates to paying for the building insurance, maintenance and some external management fees, you're not free to decide if you want insurance or maintain your investment - a nonsensical argument as you're investing and want to maintain or improve your asset value.

Strata property gives you an opportunity to buy where you could otherwise not afford eg beachside suburbs or higher demand areas.

 

Fair comment. I've revised my comment to include special levies, which lets face it can be huge.

Speaking from experience anything to do with repairs and maintenance on strata property can often be much more expensive than organising your own trades on a free standing house. Not to mention the hassle of dealing with other committee members to get works approved.

Nothing against strata, it just needs to be the right property in the right location.

 

Thanks! Would I be able to chat about your services pls?

 

What are people's opinion on forest lake? They would be within ops budget.

 

Huge drugs problems and all the crime that goes with it. It's a mistake for the OP to identify the only suburbs one can buy a house in for less than 350k and then try to convince himself that they're good suburbs. If it was me I'd wait until I could up the budget to 500k and then pick up a fixer-upper in a much nicer suburb within 10kms of the city, or I'd see if I could pick up a 3 bed existing townhouse 350k in one of those nicer suburbs.

 

That's a pity, it actually looks like a beautiful suburb driving through it.

 

I bought my IP in Strathpine under 350K. A new university will be opened at Petrie in 2020.
if you start looking at Lawnton,Petrie and Strathpine.. that might be a good start. Note:Termite is a problem in Brisbane.

 

I just want to point out for the OP that Strathpine isn't in Brisbane CC area - it's Moreton Bay region.

 

Do you have any good suggestions in this price range for a house?

 

Woodridge, Kingston, Logan Central, Slacks Creek, Crestmead, Marsden, Browns Plains and many more..

 

What would you say about the type of landlord who would be happy renting to people in the primary demographics in those areas?

 

If they buy the right property at the right price I'd say they are smart investors!

 

That's not the issue. Surely some investors would be happier than others dealing with Logan tenants.

 

Speaking from experience all my properties in those area's have attracted good tenants with only a few minor issues. The key is a good property manager and a well maintained appealing property.

Buy a run down property and pick the wrong property manager and you could be in for some fun

 

This photo was taken last Saturday. It's a property I bought and had renovated for a client. People queued out the door just to inspect it at the open home! Don't believe everything you read about Logan, properties are selling quickly and there are no shortage of tenants.

 

Buyers or tenants?

 

My Goodness, what a load of prejudiced and bigotted rubbish.

The primary demographics in those areas are really nice people just like me.