QLD Logan Central

I'm looking in the Loganlea and Kingston areas. Does anyone have any experience with these suburbs?

 

Plenty of info here and on somersoft, spend some time reading everything and you'll get a feel for each suburb.

 

Hey guys,

Just wanted to ask about Dual Occ in Logan.

I've read that there is a self-assessment criteria.
Does that mean that if my property means the self-assessment criteria I am immediately eligible for Dual Occupancy?

Thanks!
Shawn

 

Could consider OTP around Kingston area ... Selling 370 and rental return would be around 520 per week.

I am actually talking to a RE about one of them and doing DD.

 

shawn if your property meets the requirements for self assessment (section 5 of the planning scheme) your able to do it as self assesment (similar to sepp in nsw - get a building certifier to approve)

 

It's from Michael's experience, reading the forums, talking with others in the local area and being on the ground. His done a lot of the leg work because his been up there many times.

Michael is awesome when it comes to due diligence.

 

I booked flights for August 14 to 16. I'll be looking for my first IP in the Logan area. That map will come in handy thanks.

 

I've been watching Logan for 14 years and Mt for over 25 years and while prices go up , the stigma hasn't gone down

Cliff

 

So true! I was in the Army up at Enoggera and all my mates would laugh at me for buying in Logan because of the "derro" stigma. I'd cop jokes like "Hey mate do you want to take your rifle and body armor home" and "do you drive a Bushmaster (armored vehicle) to work". It's actually pretty funny.

 

Had a mate who was there, 6RAR.
Sounds pretty spot on. A couple of Carl Gustavs on the way in, surround it with Claymore's while you do your inspections.

 

You're welcome Rolo.

Also are you hiring a car and what time are you flying? I might try to see if I can catch you there around the same time...

Thanks,

 

Just thought ill post a lil tip for all you tightass sydney siders (yes people like me) wanting to go to logan to inspect properties

Fly to Gold Coast (Coolangatta) - there is over double the flights there a day and yes flights are lot cheaper than bribane.
Logan is only 45-60 mins drive from Coolangatta

Flights - Tiger or Jetstar - Tiger is always cheaper but Jetstar will always beat it if booked within 72 hours of the flight. - Have to wait for the slow jetstar online chat though

Car - if booking with Tiger they have great deals with east coast rentals (paid $25 a day) for a hyundai i20 (great car for a cheapy)

East coast car rentals - located about 2ks from the airport (they come pick you up) so factor around 15 mins for this. Full charge per day is around $40 (i20). Perfect if you only want the car for 1 or 2 days

If 3 days or over just use the mainstream (budget/avis etc)

Typical trip for me (fly Friday arvo/Sat morning and back sat night) when booked on the Monday/Tuesday before
Flights - $130 - $150
Car - $25 - $40
Fuel - $15 - $20 is sufficient for the trip

No tolls required (exit the freeway onto loganlea road which goes into slacks creek than take the logan motorway)

 

I have family on GC so borrowing their car

I fly up Thursday night and staying til Sunday arvo. If you are up there around the same time it would be great to meet up

 

I get 5.5.% (+gst) managment fee for a unit in Norman Park (and also in Tregear, nsw) from a franchise RE. when we bought the norman park one last year i pretty much went straight to the local franchise RE and said that i told our current PM (in NSW) at the time of choosing them i would first offer any IP's to any of their franchises in the area for future IP's if they meet the 5.5% and it worked. I never really said that to the original PM, but how would they know, i said i couldn't remember her name!
IF they had of called to confirm with their other franchise office they could see i get 5.5% but never find out from who or how, and i wouldn't remember her name anyway.
Obvioulsy you have to make a judgement as to whether their service would stack up, but the % was too low to worry about and if they had failed in the service i would move on with a similar story to another PM. But once i get it once i use that against any PM they either take it or lose the business for all our properties.

 

Personally I like to drive up from Sydney for a day or 2 whenever I have the time - I find this relaxing but then again I'm pretty odd

Loganlea is possibly the most sought after suburb at the moment in the whole Logan area - properties priced well are being snatched up almost as soon as they hit the market (even quicker than surrounding suburbs). If you drive around you will notice the streets have a much nicer feel/less run down - particularly stuff further away from station/closer to Waterford West/near newer project builds.

 

Yeah, the stigma will likely still be there, but prices will increase due to the reasons given above...
Same thing with struggle st druitt- still has stigma, yet prices have increased...

 

Interested in going up with the sydney crew, any idea when the next trip up is?

 

Thanks for sharing @gach2 . Just checked Jetstar and they are doing flights up to Gold Coast for $49 one way. (If you book a week in advance and take the early morning and late afternoon flights)

 

Please put me down tentatively as well. If we all went up, which suburbs would we be looking at?

 

I'm not sure I totally agree here..
I think a lot of investors are looking at highsets in: Logan, Kingston, woodridge, loganlea, beenleigh, Runcorn, marsden etc.

There are preferable parts of all of these suburbs.

I think investors are looking at:

Reno needed or not - under 20k
Bedrooms - more than 3
Block size - potential splitter, subdiv or GF
Built in or not downstairs - yes
Kitchenette downstairs etc
Flat block

Which determines rental potential.
Comparing this to the price.

If some or all of of the above are met then they are being snapped up within days.
I think that looking at all of these suburbs in the <$350k range considering my points above the properties are just as sought after from one suburb to another..

We secured a 6 br built in highset on a 814sqm block with potential rent of $500pw for 307k in April.
We signed contract within hours of it coming on RE. Agents phone rang off the hook for days afterwards.
Needs 10k tidy up but will do it once lease expires for these tenants.

I can't take credit for the purchase as a SS member pointed it out to us, but my point is that the properties which are good deals go quickly to those who know what they are looking for.
There are plenty of properties in the area that will get you mid to high 5% yields and don't have much potential to build equity.
My other property in the area is like this, only 3br, however built in downstairs. Although it is freshly renoed and has solar panels, so will attract mid to high 6% yield.
For those looking in the area, don't feel pressured to put an offer on a sub par property because there is growing interest in the area.. Stick to your numbers.. Growth in the area may not be significant in the short to medium term so really concentrate on the value-add, or potential to manufacture equity or if not possible then potentially a property that is currently being grossly under rented, so you can buy yourself a good little cf earner..