QLD Ipswich

Discussion in 'Where to Buy' started by miscg, 29th Jun, 2015.

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  1. Danmicb

    Danmicb Well-Known Member

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    How do you know the specifics of our strategies? What CG we have had or yields we have? Do you know what properties we purchased and where and what streets? I've seen the properties you purchased, I wouldn't have touched them with a 10 foot barge pole. Neither then or now.

    You can't help yourself but force your own negative opinion on everyone else here. I'll take negative constructive criticism, because I'm always looking to improve my knowledge. But you come across like no one is allowed to see anything positive about Ipswich under your watch? Please mate move on.
     
  2. Lawrence Barnes

    Lawrence Barnes Well-Known Member

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    I don't need to know your strategy etc, it's all the same in Ipswich, just look at the numbers. You have not seen the properties I purchased as I never listed the actual addresses so that's a stupid statement to make. You are now the one that cannot take criticism clearly shown by your last post. You say you are looking to improve your knowledge yet you tried to shut me down pretty quickly. Oh and I will move on when I want thank you.
     
  3. Danmicb

    Danmicb Well-Known Member

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    you said what year and what street and what you did to it. took me 5 mins to find.
     
  4. Lawrence Barnes

    Lawrence Barnes Well-Known Member

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    Well if I did, fair enough. Getting back on track and trying to keep any emotion out of it. My intention is not to upset anyone just offer my feedback, and yes it's my feedback which you can accept or not. When did you purchase in Ipswich?
     
  5. Luca

    Luca Well-Known Member

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    Poor investments can be made everywhere. You make money when you buy the property, compounding is just cream. I can buy the best house in the best suburb with the best fundamentals and pay 200% over the real market value, I can also buy the worst house in an average suburb with average fundamentals and stay 50% under market value after reno, which means I have equity from day one. Poor investments are just the results of poor investment decisions.

    I have spent all up 20 days in the area, I wouldn`t have any issue living there. It is a family oriented area with the plus of UNI. I see a steady and long term grow.
     
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  6. Danmicb

    Danmicb Well-Known Member

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    Thanks for your feedback which you have now given multiple times, on multiple threads, all being the same repetitive story every time. And just about eveytime we have provided our own feedback. We 100% get you don’t want to invest here, so you’ve made your case, we’ve responded, now move on. I’m glad you brought up your bad experience, it helps everyone to be aware of certain risks. Nothing is guaranteed. However unless you have some new insight or advice, take your finger off the repeat button so that this thread can remain a informative resource for people looking into the area. Or maybe start your own thread where you can let the steam off? So far your blanket advice that Ipswich is a bad investment and should be steered clear from is actually just plain wrong. True in your scenario, but not the majority of those posting in here. But yes, let’s move on.
     
  7. Magnet

    Magnet Well-Known Member

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    I’m interested to know what the turning point was for you. Who was it that told you that your Ipswich properties were no good and they weren’t going to help you get to retirement? I’m trying to way up serviceability/yield versus more blue chip locations. It’s a bit of a minefield. Interested to hear your thoughts @Lawrence Barnes
     
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  8. Lawrence Barnes

    Lawrence Barnes Well-Known Member

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    Hi,
    Wow this is dragging up an old post that clearly upset a few people, namely danmicb :) When you have a lot of money invested in an area and someone tells you it's not going to work it's easy to get upset and not look at the problem objectively. I told myself for years the area would pickup and I need to stick with it, the question is how long do you wait. I waited 6 years and ended up selling the house at a loss. I only wish I had sold earlier as opportunity lost elsewhere.

    To be honest I had already started to realise the strategy was not working when I looked back to the first house I purchased in Brisbane that performed really well year after year. I purchased this first house in Carina Heights a suburb of Brisbane 8Km from the city. When I compared this house to my Ipswich property something was clearly different.

    It all came together when I picked up Michael Yardney's Rules of property and this confirmed what I was already starting to work out for myself. I needed to purchase properties close to the CBD in area's where demand exceeded supply which inturn pushes prices up. These area's hold their value and rise consistanly year on year unlike area's like Ipswich they are much more volatile in price movements.

    In summary I just needed to purchase more Carina Heights type area's. It's not cash flow that's going to get you out of the rat rice it's the rising value with compounding interest.

    In the current finance landscape you are limited to how many properties you can now hold, so just make sure you hold the best ones you possibly can.

    Let me know if you need any more advice.

    Lawrence
     
  9. Danmicb

    Danmicb Well-Known Member

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    I’ve been pretty happy with my Ipswich CG over the last year.

    Ipswich Investment Property Market Data

    Vs

    Carina Heights Investment Property Market Data

    Not bad eh? Timing plays a big part.
     
  10. Magnet

    Magnet Well-Known Member

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    This is definitely worth considering. Everything comes down to opportunity cost & making Property decisions for the long-term.
     
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  11. Noobieboy

    Noobieboy Well-Known Member

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    Ipswich and surrounding suburbs homes pay for themselves (usually). If I can hold a property with no cost (and hopefully positively geared) that’s a big plus in current environment.
     
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  12. Magnet

    Magnet Well-Known Member

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    For those of you buying or have bought in Greater Ipswich Region - what kind of houses do you favour, do tenants prefer? I have heard a few of you mention Queenslanders but they are generally a good $30-$70K above the median from the sold prices I have reviewed.
     
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  13. Noobieboy

    Noobieboy Well-Known Member

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    I think tenants prefer Queenslanders but they are more costly to maintain. I would love a Queenslander as PPOR but not as an investment.

    I don’t think they really care what type of a house it is, it is not a posh seaside suburb. They care for it to be fully fenced and properly maintained.

    I would personally go with a high set. Some of Ipswich areas have reactive and moving soil. Highsets would rarely have a problem with that. Lowsets tend to crack and shift.
     
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  14. Lawrence Barnes

    Lawrence Barnes Well-Known Member

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    You couldn't resist replying hey. Funny.
    I'm still not sure what exactly you are saying?, even over that 1 year Carina Heights CC was still higher than Ipswich. That's only a year as well, try checking over a 10 year period and Carina Heights will blow Ipswich out the water. Not to mention even a smaller price change in Carina Heights will make more money. I would rather have a 5% growth rate of a house in Carina Heights worth $700,000 then a 7% growth rate on a house worth $350,000.
     
  15. Danmicb

    Danmicb Well-Known Member

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    Couldn’t resist? You’re the one who went out of the way to bring up my name.

    My point is both have gone up by approx 60k in the last year, so your theory that Ipswich doesn’t provide CG in a decent timeframe is just wrong. It’s all about timing. I’ve never tried to say that Ipswich will outperform your precious Carina Heights over 10 years, but you can’t go around slagging Ipswich just because you got it wrong there.
     
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  16. Lawrence Barnes

    Lawrence Barnes Well-Known Member

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    If you have made money in Ipswich that's great. I say enjoy it while it lasts. The first decent thing you have said Ipswich will never outperform any decent suburb in Brisbane, Carina Heights being one of them. I only give my opinion of my experience over the 6 years I was invested in Ipswich. You have had a better experience so lucky you. I was asked my opinion so I gave it. If I want to say negative comments about Ipswich then that's my choice. Pretty sure this country still allows free speech. If you are confident in your strategy good for you but for me this didn't work. So many investors focus to much on cash flow and think if they have a property that does not cost them anything to hold it's a winner and that's all they need to consider.
     
  17. Al1979

    Al1979 Well-Known Member

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    Have you considered that maybe you were in the Ipswich market at the wrong time?

    Also cashflow IS important, now so more than ever. Just imagine you buy with bad timing again in an area that doesn’t grow and has poor cashflow...
     
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  18. Lawrence Barnes

    Lawrence Barnes Well-Known Member

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    Arr timing the market, near impossible to get this right. Not to mention I got hit with the X factor. I purchased in 2010, can you guess what the X factor might be?
    Cash flow keeps you in the game yes but it won't get you to retirement. There are better opportunities out there than Ipswich.
     
  19. Noobieboy

    Noobieboy Well-Known Member

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    Some people get it right and some people get it wrong. It’s all experiences.

    Regardless, if your personal experience with Ipswich wasn’t great it doesn’t mean that it is not a great place to invest. Ipswich offer great yields and alright capital growth. As opposed to mediocre yields Brisbane offers with “potentially” better CG.

    I personally prefer yield over CG. It is more likely to eventuate and is more stable than CG, which can be a hit or a miss. That’s why I personally would invest in Ipswich over Brisbane.

    Yield also helps with serviceability which is becoming a major point for banks. CG, if they happen, could help. But look at people who bought in Sydney recently. Those who bought for CG are losing money (*T&Cs apply) while yields are holding.

    At the end of the day it all depends on each investors strategy and their goals.
     
  20. Danmicb

    Danmicb Well-Known Member

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    Another month, another price jump. Starting to sound a bit repetitive. Also had a increase in rent on new lease. Inner Ipswich is happening at the moment.

    Ipswich Investment Property Market Data
     
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