QLD Logan buying guide

Discussion in 'Where to Buy' started by seanbrissy, 6th Dec, 2015.

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  1. Biz

    Biz Well-Known Member

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    They don't sell it because there is nothing to really sell it as for now. Unless your doing a subdivision, you're not going to come out ahead building units and town houses for quite some time so all those LMR blocks are pretty useless unless you are happy to just sit there and wait.
     
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  2. RetireRich101

    RetireRich101 Well-Known Member

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    Yes, correct the numbers doesn't stack up to build in cheaper area now. Subdivision falls in the same boat. This is because the dev cost and infra councils fees in QLD, making them not feasible in Logan at the moment.

    In Loganlea suburb, properties in the zoning for T/H and apartment are already getting a premium as compare to a property that is not in the zoning. The zoning was adapted in May 2015 so nothing to speculate that zoning will not go ahead.

    The numbers look better when end product (say townhouse) is 350-400k, and I anticipate this may take next 3-5 years.

    When this does happen I have the option to either
    • build
    • sell off DA plan
    • do nothing
    In the meantime, it takes 5-6% return to hold these dev lots....as compare to 6-7% the dual incoming/living that people is chasing for in the area...

    I am on the assumption that I will enjoy a similar CG and yield if not higher, while holding these dev lots, but it gives me alot more options down the track, as compared to regular buy and hold. I guess different foot fits in different size shoes.
     
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  3. larrylarry

    larrylarry Well-Known Member

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    To have options is good. Obviously, it depends on the market but it does allow you to create value. The issue is some buy in the hope that rezoning happens...
     
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  4. seanbrissy

    seanbrissy Well-Known Member

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    @RetireRich101

    Did you buy in Loganlea?
    Was it in the pocket South of Station Road?

    Lots of buying/selling activity going on in there.
     
  5. RetireRich101

    RetireRich101 Well-Known Member

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    if I phrase the word 'hope' in this sentence "the issue is some buy in the hope capital growth happens", would you have a problem with that?

    at least rezoning you can ascertain your hope (mitigate risk?) by doing extra diligence in calling out various people to find out to mitigate risk in getting rezoned.

    now that Logan council new planing is gazette and adapted for at least 6 months, does this mean hope is totally eliminated. answer is no.
     
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  6. larrylarry

    larrylarry Well-Known Member

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    I wasn't talking about you mate. I should have been clear. I know some bought places because they got a whiff of 'rezoning' news. :)
     
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  7. RetireRich101

    RetireRich101 Well-Known Member

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    yes, but I thought all Loganlea is south of Station Rd :p.

    I like the suburb because, further down south you have newer estate/homes, but yet infill land is not that many as it bounded by Waterford. They are build towards Logan river but there is so much they can build before it's a flood prone.

    The older homes are located inner and closer to station. The specific Loganlea planning seem more organized. When I was there few weeks back, lot of road works happening closer to the station pockets.

    North of station road is Meadowbrook, newer type estate and median is much higher and preferred suburb that all other Logan...

    Loganlea is close to university, tafe and hospital
     
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  8. RetireRich101

    RetireRich101 Well-Known Member

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    I didn't think you were talk about me either when I replied. Obviously that person you are speaking of need to do more diligence, just like any checklist for a buy n hold.
     
  9. larrylarry

    larrylarry Well-Known Member

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    Yes. But common sense isn't that common these days.
     
  10. seanbrissy

    seanbrissy Well-Known Member

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    more specifically Southern Western part.
     
  11. RetireRich101

    RetireRich101 Well-Known Member

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    in the zoning.
     
  12. seanbrissy

    seanbrissy Well-Known Member

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    All the best with it mate, keep us posted if and when you decide to develop.
     
    Last edited: 15th Dec, 2015
  13. Simon L

    Simon L Well-Known Member

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    For me, focusing on numbers when buying in Logan has worked better than focusing on buying in the best suburbs, streets, proximity to xyz, development potential etc. These usually command a premium anyway and you could be setting yourself up with more competition.

    The value with places like Logan is if you buy right, it will give you the ability to grow a large portfolio in a short time frame so even when there is a 5%, 10%, 20% shift in CG, you will see a significant increase over several properties.

    Obviously yield and not overpaying is crucial with this strategy, but its also important to not overcapitalize on costly renos or development especially from the get go. Buy it, rent it, and move on to the next one.

    If the numbers stack up on a property, I generally just check to make sure its not in a flood/bushfire zone, it doesn't require any major renos and that its not near anything questionable (waste management facilities, main roads, dodgy neighbors, industrial areas etc) and I will take a punt.
     
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  14. sash

    sash Well-Known Member

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    You are kidding right.....Carina vs Logan???

    Seriously mate....it just shows how rose colored your glasses are.....have a look at how close Carina Heights is to the city and some really great areas....
     
  15. willair

    willair Well-Known Member Premium Member

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    Carina vs Logan??,massive difference in location plus a lot of Carina is starting the multi walk
    developments then the land start compounding in land value as all the entire land mass of Carina is used,Logan if you do you your homework has a lot of rural land just outside the main areas,plus Logan is not with the BCC..
     
  16. RetireRich101

    RetireRich101 Well-Known Member

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    read my post again guys...

    "what's there in Carina Heights that Logan doesn't have in terms of capital growth, putting all arguments aside.."

    not comparing location or infill or which is superior what not...
    did Carina do much better in terms of capital growth than Logan in the short, medium or long term. yes.
    was there are massive difference in capital growth, no.
     
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  17. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    Did you end up snatching this property up? If not, that person must be really lucky to get that kind of rare legal height property around that price range. The deal of the century! ;)
     
  18. 4point5million

    4point5million Well-Known Member

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    I doubt it is legal height, it is also being sold by coronis who are the worst agents in Logan, most will tell you it's legal when it's not, go figure
     
  19. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    I wish there is a tool/software we can use to measure the height, just by inputting images from different angles.

    Talking about the legal height, how do council ppl measure it? Does it need to be at least 2.4m at any points between the ground and the downstairs' ceiling? Do they measure from the height of walls outside?
     
  20. Simon L

    Simon L Well-Known Member

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    Highest point on the floor to lowest point on the ceiling (usually wooden beams)

    Sometimes its no longer legal height once you tile the floor/add gyprock ceiling