QLD LOGAN 2021

Discussion in 'Where to Buy' started by balotelli14, 16th Feb, 2021.

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Best surbubs in Logan Council ?

  1. acacia ridge

    21 vote(s)
    12.5%
  2. Crestmead

    40 vote(s)
    23.8%
  3. Rochedale South

    57 vote(s)
    33.9%
  4. Springwood

    30 vote(s)
    17.9%
  5. Daisy Hill

    27 vote(s)
    16.1%
  6. Shailer Park

    11 vote(s)
    6.5%
  7. Woodridge

    24 vote(s)
    14.3%
Multiple votes are allowed.
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  1. skater

    skater Well-Known Member

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    Owner Occupier.
     
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  2. Closet

    Closet Well-Known Member

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    It could be a number of things so you have to look into those carefully. On one hand it could be related to the condition of the property or overlays (most likely) on the other hand it could be that the owner is unrealistic with price or the sale fell through.
     
  3. HapppyChat

    HapppyChat Well-Known Member

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    Geelong Victoria
    I bought a 3 brm house in Waterford West in 2016 for $331k. Suburb flatlined since then. Worth $350k now. Rents at $360pw.

    Put a 2brm Granny Flat on this year. Cost $140k, rents $340pw.

    So total in, $471k, getting $700pw rent, 7.7% yield.

    I don't expect it will outperform anywhere in particular, it's steady safe investing, not rock star investing. But I'm 49 years old and glad to read here the area is increasing in popularity, not decreasing, so I can knock the loan down and collect the rent from now until I'm dead.
     
  4. Arthurark

    Arthurark Well-Known Member

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    every chance these have already sold but just haven’t gone unconditional. they don’t want to have to relist the ad should the finance etc fall through so leave it up for free marketing in the event
     
  5. thunderstrike888

    thunderstrike888 Well-Known Member

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    You better research properly if your buying a house and not just copy and paste listings randomly without actually digging into the status.

    For instance 48 Wilkinson was listed only 4 days ago and its already gone I believe with more than 12 offers within 24hrs sight unseen. NOTHING is sitting for long - absolutely nothing!!!

    The others are gone as well. Just because a listing isnt updated or removed doesnt mean its available.
     
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  6. boganfromlogan

    boganfromlogan Well-Known Member

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    Loganlea train station is a great asset, express to Dutton Park!! Quick commuting. Near hospital and uni, and best woollies in qld!!

    I rent out my house in loganlea and have great tenants.

    Ur Street is small, I don't know it.
     
  7. Tass

    Tass Member

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    Hi Bob,
    The property that I bought is 10 years old and there are 4 bedrooms, 2 bathrooms. Require low maintenance, that my strategies as I’m from Melbourne. The price is go crazy, I can see from my eys. It’s up 100k within 6 months in Logan area!!! Still very undervalue tho, so I bought it anyway :)
     
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  8. Tass

    Tass Member

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    Hi @boganfromlogan Thank you for this.
    I know there are trouble makers everywhere, and it hard to know which street/area to avoid in Loganlea. Just thought in this post, people talk about Creastmead, Waterford, Elgleby…etc
    so I’m questioning myself If I bought it in the right location. Do you know, Is there many owner occupied in Loganlea? Giving the fact that the tenant has been there for 6 years, I think the location that I bought must safe and ok.
     
  9. Stugots

    Stugots Well-Known Member

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    You know the boom is in full force when every bus stop has an agents head on it prompting you to sell your house :D
     
  10. boganfromlogan

    boganfromlogan Well-Known Member

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    Yes, 6 years is good long time!

    All the trouble makers are in West End!!

    There are plenty of renters in Loganlea. When I was there ( couple years ago now ) me and neighbouring housewares OO and other neighbouring house was renter.

    So it is mixed, and plenty of ppl rent.

    The area is changing rapidly. I used to count the number of Mercedes in the train car park!! They went from none to a few to plenty in only a couple of years.
     
  11. Arthurark

    Arthurark Well-Known Member

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    thunderstrike888 likes this.
  12. Tass

    Tass Member

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    Great to here form Local!
    what a brave parking Macedez Benz at train station :). Soon the bank will value the property, it will be interesting to see what is the price! As the data on re.com is like 2-3 months outdated…
    I think by the end of this year, property at Logan 4/2/2 will be 550K to the true value!!
     
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  13. Tass

    Tass Member

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    Yes, its crazy. But it is so true. Many property listed for inspection and sold at the same day. A lot of buyer make an offer without seeing the property (including me) lol
     
  14. Arthurark

    Arthurark Well-Known Member

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    thunderstrike888 likes this.
  15. gach2

    gach2 Well-Known Member

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    Corner block - Granny/Dual occ potential (dual occs are also starting to stack up now - QLD building costs havent jumped crazy either)
     
  16. Tass

    Tass Member

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    **Updated**
    The bank value my property at Loganlea exactly the same as my sold price => one tick box yeah! And my friend (who recently move from Melbourne) went there to inspect the property and area. He admitted the area/street is clean and better than where i live in Melbourne lol. So he said ignore the bad talk and he believes its a good investment. So much relief!!
     
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  17. boganfromlogan

    boganfromlogan Well-Known Member

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    Bad talk about Logan is always worth ignoring. Well done.

    Buyers relief!! That's what we like in Logan!!
     
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  18. gach2

    gach2 Well-Known Member

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    I know of a few properties listed yesterday

    Offers already in above expectations - market is crazy
     
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  19. Stugots

    Stugots Well-Known Member

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    Think someone posted this a few pages back - wonder what it sold for? Noticed this agent hasn't been disclosing their sales.

    https://www.realestate.com.au/sold/property-house-qld-crestmead-137132762

    Listing says "A rental Appraisal is available on this property and would see an investor secure a tenant in the region of $450-$470 per week." yet it's been advertised for $450 Rent on 2 June 2021 listed for 140 days.

    And looks like it's still not rented, currently on market for $420 per week by the same agent.
    https://www.realestate.com.au/property-house-qld-crestmead-430856982

    Interesting
     
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  20. thunderstrike888

    thunderstrike888 Well-Known Member

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    Dont believe all these sites - they are not updated or accurate many of the times. One of my places when I look says the last time i rented it was in 2019 for $350 per week but since then Ive had 2 newer tenants and the rent is now $400 per week.

    It could merely be the fact that the previous owner had it up for rent back in June and instead decided to sell it and leave it empty since then. Now the new owner after 42 days for settlement is listing it again after they did some more work on it. The site just doesnt know the circumstances or whats happened.

    I've never seen or heard of a place not rented for 4 months in any suburb let alone Logan even during the PEAK of Covid. I rented my house in Crestmead within the first 4 days and with a $15 price rise only about 1 month ago. A house like this should have no issues.

    Heck even my unit in Sydney after a $150 per week reduction in rent didnt last 5 weeks on the market during peak covid. We are talking April/May when we were all in lockdown.
     
    Last edited: 19th Oct, 2021
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