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How are your investments in Logan Going

Discussion in 'General Property Chat' started by sash, 2nd May, 2016.

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  1. sash

    sash Well-Known Member

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    OK on the back of the Logan thread...I want to know how people's investments in Logan are going.

    Specifically...I have divided Logan into 3 area types

    Good parts - i.e. Rochedale, Underwood, Springwood, Drewdale

    Middle Class - Regents Park, Marsden, Browns Plains

    Lower Socio Economic Ares - Kingston, Woodridge, Logan Central ,Shailer Park


    I am particularly interested what you bought for, increase since you bought, over what period, yields and any issues you have had.

    I realise some of this information is personal but would be good to get an idea from people's experiences.
     
  2. Biz

    Biz Well-Known Member

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    I don't think Shailer Park is in the low socio bunch.
     
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  3. Special order

    Special order Well-Known Member

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    I have investments in Logan central, loganholme , Springfield, eaglby and
    Beenleigh, not much now under 370 so pretty happy, though happiness could be defined as something other than capital gains .... Personally....tonight it's a massive bag of blow and 7 bottles of Moët........
     
  4. SK Investments

    SK Investments Well-Known Member

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    I bought 2 3x1 hardiplank on slab houses on 720m2 blocks in Bethania for $250k each back in early 2014.

    I'm getting $325 pw at the moment for one, and the other I'm renovating right now.
    Growth has been over 10% (2 years) but I think I'll turn it into 20% (Over 3 years)

    Main problem has been tenants defaulting, and the need to renovate before next tenant.
     
  5. Kate Moloney

    Kate Moloney Well-Known Member

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    Logan ... or did you mean bogan ? ;)
     
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  6. RetireRich101

    RetireRich101 Well-Known Member

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    Springfield!!

    Did I win? I thought it's pick the odd one out that is not Logan.
     
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  7. Biz

    Biz Well-Known Member

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    Haven't you got a bank somewhere to be paying back? ;)
     
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  8. Special order

    Special order Well-Known Member

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    Come
    Over now, still 6 hours of night left. And until they delete this thread! ...forget your worries....
     
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  9. JDP1

    JDP1 Well-Known Member

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    You forgot park ridge. @Tekoz has made a mil by now..putting us all to shame.
    Park ridge is on track to be the next new farm/Tenerife
     
  10. RetireRich101

    RetireRich101 Well-Known Member

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    I think if you can pick up a highset fibro, dual living in Woodridge for 620k, you would be laughing. Not many under 500k now in Logan.
     
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  11. C-mac

    C-mac Well-Known Member

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    I've got stuff in the 'lower' suburbs you mentioned, Sash, but only held for just over a year now, so it's probably too early to tell. Both got a $10 rental increase recently.

    Tenants have been very very good (better so far than my tenants in the northern, nicer, parts of brisbane I hold stock in).
     
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  12. Special order

    Special order Well-Known Member

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    Corner block then your really calling the shots!
     
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  13. RetireRich101

    RetireRich101 Well-Known Member

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    Corner lots are at least 100k more than regular lots, as it has more development potentials.
     
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  14. Special order

    Special order Well-Known Member

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    Next rounds on me brother!!
     
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  15. cstar

    cstar Member

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    Not sure how you define Shailer Park as lower socio economic.
    I would love (and sure many would) to be able to buy in Shailer, for 4114 money...

    Purchased one in 4114, 3bed house, standard land size of around 600sqm, mid-2014 for $250K. I reckon it is now $290-300K.
    So about 10% increase per year?

    Wonder if this will keep going... Is Logan getting expensive?

     
  16. RetireRich101

    RetireRich101 Well-Known Member

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    wonder what happened to other Logan suburbs: Meadowbrook, Loganlea, Strathpine, Waterford, Bethania, Edens Landing, Margate, Holmview, Beenleigh, Annerly, Crestmead, Park Ridge

    maybe OP finds it difficult to categorize them?
     
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  17. Lenny

    Lenny Well-Known Member

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    Good timing Rich. We just purchased in Crestmead which is probably in the middle class segment Sash. We're doing it up (cosmetic and minor building issues) at the moment but based on the agents appraisal we're looking at just over 7% gross. In a few years we'll add value to the property and push another ~$100-120 per week. Fingers cross there is a

    In the week that we've owned it I reckon it must have gone up by... at least 50k ;)

    Lets hype Crestmead - lol...
     
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  18. wategos

    wategos Well-Known Member

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    Wow 500K how ridiculous. I remember when it was a mostly vacant new build investor disaster area years ago with plenty of sob stories in the media (like 25 years ago...)

    Are Brisbanites a bit pee´d off with southerners moving in and hoovering up IPs to escape land tax ? Or you like them pushing up the prices ?
     
  19. RetireRich101

    RetireRich101 Well-Known Member

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    That cant be right, most of us had only 30k increase per week. You must bought well. Congrats.
     
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  20. Special order

    Special order Well-Known Member

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    Love how the OP continues to hype Logan ... His passion must run strong