QLD Logan Central

Discussion in 'Where to Buy' started by miscg, 7th Jul, 2015.

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  1. miscg

    miscg Active Member

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    That does worry me for sure. I think though over a minimum 10 year hold it would improve, my goal for investing is long term (20 Years). I hope I'm on the right track!! :)
     
    miscg, 9th Jul, 2015
    #21
  2. miscg

    miscg Active Member

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    Thanks Tyrones
     
    miscg, 9th Jul, 2015
    #22
  3. C-mac

    C-mac Well-Known Member

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    Anything can happen, sure, but, short of another flood or something, it is hard to imagine much of the loan city council area NOT improving values and decreasing stigma over the next 10 years. Just it's proximity to Brisbane and the GC, ND ease of access/amenity should see it do well.

    Some super low socio-economic people might get out priced and moved on to other areas (perhaps out near Ipswich??)
     
    C-mac, 9th Jul, 2015
    #23
  4. David Shih

    David Shih Mortgage Broker Business Member

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    I'm in the same boat as Kael - how was the good/bad area decided?
     
    David Shih, 17th Jul, 2015
    #24
  5. Greyghost

    Greyghost Well-Known Member

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    Don't buy... More deals for me
     
    Greyghost, 17th Jul, 2015
    #25
  6. JDP1

    JDP1 Well-Known Member

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    look at the QPS crime maps to see what goes on crime wise.
    https://www.police.qld.gov.au/forms/crimestatsdesktop.asp

    it shows 676 crime incidences in a 3 month period to 10/07
    wtf...
     
    JDP1, 17th Jul, 2015
    #26
  7. Subodh Shirodkar

    Subodh Shirodkar Well-Known Member

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    Dear All,

    I have 3 IP's in Logan area all long term buy & hold.

    - We got first one @ 170 (3 yrs back) high set 3 bed house renting for 335. No issues.

    - Market has moved got another one in Jan this year 245 high set 3 bed house did reno of 15K. Renting for 320. Took 3 weeks to get right tenant.

    - Snapped one more 4 weeks back 215 old cottage 3 bed house expecting a rent of 280.

    Excellent option if you have long term buy and hold mindset. Don't expect anything fancy in terms of Capital Growth. Personally I expect the market to move up in next year or two.

    Keep an eye on tenants and take time to study the market and demographics. Keep an eye on your cash flow and ability to hold for long term.

    Currently this market is getting lot of attention and media exposure.

    Hope this helps.
     
    Subodh Shirodkar, 17th Jul, 2015
    #27
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  8. Mr_Jaq

    Mr_Jaq Member

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    Yep can definitely support that map. I also had some help from Michael_X. Top bloke!
     
    Mr_Jaq, 17th Jul, 2015
    #28
  9. ashalim

    ashalim Member

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    $450! 5 bedrooms?

     
    ashalim, 17th Jul, 2015
    #29
  10. Starbright

    Starbright Well-Known Member

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    Some of those areas in red are LMR areas, I'm sure there is good money to be made in the future. For instance, near the council and on the other side of the station is zoned for either townhouses or units. Why would you avoid it? Have you read the new DCP?
     
    Starbright, 18th Jul, 2015
    #30
  11. Greyghost

    Greyghost Well-Known Member

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    The area is not for the feint hearted investor.
    You need to know
    Flood maps
    Good streets
    Where the toxic tip was
    Where the streets close to industrial area are
    Which properties will produce the rental yield that warrant investment
    What properties present good value add opportunities

    I spose this is like investing anywhere, but there are a lot of houses in the area that look similar to others to the inexperienced investor trying to buy in and price point might also be similar but they are chalk and cheese.
    I personally have 2 PC members to thank for this, especially one who without her would have been completely in the dark..
     
    Greyghost, 18th Jul, 2015
    #31
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  12. Tranquilo

    Tranquilo Well-Known Member

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    I got one going unconditional Monday. Purchase 387500 rent 475. Potential for Dual Occ later and its for long term hold. Also up to $8,000 depreciation first year, well that's a rough estimate from Depreciator.
     
    Tranquilo, 18th Jul, 2015
    #32
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  13. Michael_X

    Michael_X Mortgage Broker Business Member

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    Nice work Tranquilo :) Solid numbers!
     
    Michael_X, 18th Jul, 2015
    #33
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  14. Michael_X

    Michael_X Mortgage Broker Business Member

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    Yeh, 3 bedrooms up stairs and 2 downstairs.

    Cheers,
    Michael
     
    Michael_X, 18th Jul, 2015
    #34
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  15. C-mac

    C-mac Well-Known Member

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    Nice one! I need to spot some finds like this :)
     
    C-mac, 18th Jul, 2015
    #35
  16. Tranquilo

    Tranquilo Well-Known Member

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    Thanks Michael. Look to be honest could have been better numbers but its the depreciation that gets it over the line:)
     
    Tranquilo, 19th Jul, 2015
    #36
    Property Twins likes this.
  17. Greyghost

    Greyghost Well-Known Member

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    So your purchase decision came down to a tax saving?
     
    Greyghost, 19th Jul, 2015
    #37
  18. Tranquilo

    Tranquilo Well-Known Member

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    No just a bonus. The goal of this one was long term hold and nothing from our pockets.
     
    Tranquilo, 19th Jul, 2015
    #38
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  19. Greyghost

    Greyghost Well-Known Member

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    Cool.
    Do you have any others in the region?
     
    Greyghost, 19th Jul, 2015
    #39
  20. Fungus

    Fungus Well-Known Member

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    How do you actually work out the good streets? Just being on the ground? I know a few people have posted up maps of good areas, so that's a good start.

    Just did some research of the toxic tip...damn it's pretty close to properties and a shopping centre...
     
    Fungus, 19th Jul, 2015
    #40
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