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How would you compare Petrie 3'1 vs Goodna 4'2

Discussion in 'Where to Buy' started by Samj, 26th Apr, 2016.

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How would you compare Petrie 3'1 vs Goodna 4'2?

  1. Petrie Property (close the new uni) : 35 Year old, Weather board and Wooden. Condition is ok. Price

    55.6%
  2. Goodna Property (non flooded area) : 6 years old, Brick and tile. Condition is good. Price $330K (Ap

    44.4%
  1. Samj

    Samj Well-Known Member

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    Petrie Property (close the new uni) : 35 Year old, Weather board and Wooden. Condition is ok. Price $330K (Approx Rent : $340)
    Goodna Property (non flooded area) : 6 years old, Brick and tile. Condition is good. Price $330K (Approx Rent : $360)

    Let's say you have found two good properties one in Petrie and one in Goodna. Both properties are pretty much the same price. Rental wise, you will get $20-$30 extra rental for the Goodna property. Goodna property is only a few year old where as Petrie property is almost 40 years old, Goodna better depreciation. And also, Brick Tile vs weather board/wooden. So, cashflow is better at Goodna property. May be CG is better in Petrie. If you are in a situation what would you select for investment?
     
  2. EN710

    EN710 Well-Known Member

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    Not familiar with the suburbs so can't comment on which one. What's your overall goal?

    Based on cashflow, Goodna might be better (and less maintenance).
     
  3. Marg4000

    Marg4000 Well-Known Member

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    It is hard to compare properties in different suburbs. Rather I would be looking at how each property compares to comparable properties in the same area and look for good value. Future capital growth is at least as important as short term cash flow issues.
    Marg
     
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  4. ashish1137

    ashish1137 Well-Known Member

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    Goodna is just rental market. @seachange posted once that it is still not equivalent to its nearby suburbs so he sees potential there.

    Petrie , even though has comparatively less rental income, might see more growth in coming time. There is a different thread for that on forum. You might wana look st a newer property and in suburbs like
    Strathpine
    Kallangur
    Mango hill
    Deception bay

    I would read more and visit once to see in more detail if I had been in your place.
     
  5. Samj

    Samj Well-Known Member

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    Thanks for your reply. I am looking for my first investment property and actually I have been reading all threads and visiting all these places. I think I would like to buy a property with a better cash flow to start my investment. So, I guess I would like Goodna 4'2 over Petrie 3'1. I guess the reason for posting this is to check/understand if that is not a too bad approach for a new investor. I am happy to get a little lower CG for better cashflow as I would like to start investment journey with somewhat positive gain.


    Thanks again for your reply.
     
  6. Whitecat

    Whitecat Well-Known Member

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    Without analyzing your figures i can say that generally Petrie is a better area socioeconomically.
    Goodna is the most obese place in Australia
     
  7. markson

    markson Well-Known Member

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    Hence the higher yields.

    Not much in Petrie for $330k o_O Actually not much for under $350k
     
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  8. sash

    sash Well-Known Member

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    This time last year...you could have gotten even under 300k...
     
  9. HUGH72

    HUGH72 Well-Known Member

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    Depends what you are trying to achieve and what you want the property to do.

    They both look like viable options.

    If I was buying in Goodna I would prefer something sub 300k and closer to the median of 288k.

    The Petrie place sounds good value, better area with potential for growth. I'm not a huge fan of weather board places, does it need much work?
     
  10. LeMU

    LeMU Well-Known Member

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    Just like what @EN710 said it really depends on your goal and your current strategy.

    If you're going cashflow then yes, on paper it would make sense to go Goodna and it'll probably cost you less in maintenance fee in comparison with the Petrie property. However you also need to be mindful that there is still considerable amount of land out in the west so may take a while for CG to kick in.

    If you are seriously considering cashflow play in QLD then have you considered Logan? To be honest Logan's yield is still hard to beat so if you haven't considered it then perhaps you should check it out before making the final call.
     
  11. RetireRich101

    RetireRich101 Well-Known Member

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    When I looked at Petrie previously, there were some high numbers of Housing Commission properties in certain pockets ...these info can be easily obtained from your BA or Pricefinder/Rpdata.
     
  12. Samj

    Samj Well-Known Member

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    Could you point a certain area? I am not familiar with Logan.

    Thanks.
     
  13. sash

    sash Well-Known Member

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    Depends what you want...but Petrie has the track record of moving...as I said it was early 3s now mid 3s is the norm.

    Have a look at the infrastructure like the University, Shopping centres, and other infrastructure going in.
     
  14. Special order

    Special order Well-Known Member

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    There's not much around now under your price bracket. Your better off narrowing down some suburbs and then posting for opinions on what you Shortlist... In relation to the below post.. be prepared to meet resistance by inane and deficient individuals such as this poster, that obviously are guided by their fears laziness and jealousy rather than rational thinking and perseverance.

    Currently I personally think there are 2 suburbs in logan favoured by owner occupiers that are undervalued and offer good yields if the right product is found. You can narrow them down by having a look and keeping track of the number of listings for rent, and gauge value by watching sales results good luck

     
  15. Azazel

    Azazel Well-Known Member

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    There are lots of variables.
    What are the land sizes and values?
    Go for a drive through both and see what you think - there's a reason it's nicknamed: Good? Na.
     
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  16. LeMU

    LeMU Well-Known Member

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    Depends on your price bracket...for $330K you can still look at Woodridge, Logan Central, Kingston, Marsden or Crestmead. Otherwise go south towards Beenleigh and Eagleby area. Plenty of stock in these areas with entry price around early 300K mark and sometimes you can still get good deal in the high 200s returning high 300s per week in rent. I would strongly suggest you go through a number of Logan threads on this board and do your own DD. Good luck!
     
  17. markson

    markson Well-Known Member

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    Why would Logan be better over Goodna? Goodna is only 24 mins to Brisbane. Closer then most of those suburbs mentioned.
     
  18. LeMU

    LeMU Well-Known Member

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    Not saying any suburb is better than another. I'm just providing an alternative option for the OP to consider as he's after cashflow play and you can still get decent yields in Logan if you buy well.
     
  19. RetireRich101

    RetireRich101 Well-Known Member

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    One thing to consider down the track when you don't want to buy more property but just to increase the yield.

    In Logan council, you can legally build a 70m2 granny flat in your backyard ( just like NSW but 10m2 bigger) and rented separately.

    Current legislation only allows 50m2 granny flat to built in Goodna, and you can't build granny flat in Petrie.
     
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  20. JDP1

    JDP1 Well-Known Member

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    Goodna vs petrie reminds me of this

     
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