QLD How are your investments in Logan Going

Just stumbled onto this thread. This buy was me. Thanks Steve.

The place was a mess to say the least. The husband was doing reno jobs all over the house but not completing any! I think the wife was jack of living on a construction site and decided to sell and start over again.

Had my PM check it out. She was probably the reason we bought it. She saw something that others probably didn't or wouldn't. Made an offer based on her assessment. The building report freaked me out, and on first reading thought it was a bad buy. I called the inspector and talked to him and he said it had issues but had heaps of potential.

 

Four new Logan suburbs as population booms

 

Get hype! Thinking of buying a block of land and subdividing in Loganlea.

 

I hear Meadowbrook Master Plan being spruiked a lot. It's nothing major though right, still only a Woolworths as biggest shop in that vicinity.

Though Loganlea train station going to be key going forward.

 

What about Waterford suburb ?
is that going to be booming soon ?

 

Maybe not a boom but a little bit of a median climb!!

 

it is popping a bit maybe ?

look at that, from 04 to 2015 just to get back to 04, who said property can't go backwards, look at 06....eeek

must have been some new estates or something to inflate it that much, to then come back by over 50%, tis why you can't rely on data.

 

I ended up buying in crestmead in 2014 for 305k 4/2/2 650 sqm corner block just got valued by the banks for 350k. Rents for 375 a week and had the same tenants in there since new in 2001.

 

Waterford west doing quite well-

 

Just found this thread. I'm another of Steve's clients who bought in the area recently.

We bought in Underwood Nov 2015. 4 bed 1 bath 2 garage highest with legal carport and pool as well. 607 flat block. Got it for $405K. Lu from pmhq knew we were looking and found it for us. She suggested we add a kitchenette and bathroom downstairs as well as convert garage to 3 utility rooms - not legal height unfortunately. We did all this for about $40K. We are getting $580wk rent. Really good tenants. Extended family.

The house got valued at $480K a couple of months ago.

As mentioned there are deals in the area and a good chance to manufacture equity and yield. Get a good pm (Lu and pmhq are very good and know the area) and a good builder and you can't go wrong.

 

Yes, Crestmead and Park Ridge is a great suburb that will do well in Logan area .

 

@dabbler so what about using http://www.ripehouse.com.au/ or http://www.realestateinvestar.com.au/ ?

those are quite expensive search engines.

 

I bought 3/1/1 in Crestmead 8 months ago for 290 now valued at 310k and tenanted at 340pw.

Average house but amazing buyers agent and PM do all the hard work, havent even seen the house lol.

Go Logan!

 

Hi Tekoz, I will be brutally honest with you.

It does not matter if you pay 100 grand a year for data, or get it free from free internet sources, data can be made to look favorably or poorly probably in most markets.

What matters is the actual facts and what actually happens, and no one has a crystal ball.

Your investment has the potential to kill an investment choice I make, that is the reality, but there is probably a good argument for an educated gamble.

So each of us has to work out what works for us, or speaks to us, what *we* think will happen.

In any area or place, let's say, you can make things work, if you buy way under market, or, buy something that can be developed into something wanted, or turn a lemon into a cash cow, really is no limits, some of us may have less time to learn hard lessons though.

There is no substitute for checking things for yourself, for using what grey matter you were given & of course, if you pick some of the better data sources, this can back your own collection of info, or help you confirm something, just look at everything.

 

Interesting. Which app or website is that?

 

Pricefinder

 

Can you do the tweeking of comparable properties on the app like on computer? I have the app on android and it's rubbish! Keeps kicking me out each time i change selections eg state

 

I helped someone buy a property in Logan recently
and I got $100 as a 'finder's fee'.
All cool.

 

This one appears to have gone well, the owner paid 210k 4 years ago, did a 50k reno now selling for 799k..............

141 Station Road Loganlea Qld 4131 - Other for Sale #123152098 - realestate.com.au

 

Is that many units even legal?

Or they are simply treating it as share house?