QLD Logan hot spots! Insider knowledge

Discussion in 'Where to Buy' started by magyar, 16th Mar, 2017.

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  1. Frank M

    Frank M Well-Known Member

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    Good time to grab some bargains, just brought a 3bedder brick &hardy plank in Crestmead @280k rented at 370pw 4months ago
    And a full brick 3bedder in Kingston for $282k this month
     
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  2. Wukong

    Wukong Well-Known Member

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    It seems to be a bargain there every year
     
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  3. Frank M

    Frank M Well-Known Member

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    Haha ill keep buying there untill it isnt a bargain
     
  4. Happy 84

    Happy 84 Active Member

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  5. eletronic_exp0430

    eletronic_exp0430 Well-Known Member

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    Going great. Havent been a single day without a tenant since initially renting them out. Dont forget these are family oriented areas so once they settle in I find that the good tenants dont really want to move out.

    Have you been there? Its just like any other suburban area in Sydney like Blacktown, Pendle Hill, Toongabbie, Wentworthville etc....felt very similar to these suburbs to me.

    I felt very safe walking around and going around night and day when there. No Issues whatsoever. Even had a nice old lady stop and ask me if I'm OK because I looked lost when I was just wondering around the place LOL
     
  6. eletronic_exp0430

    eletronic_exp0430 Well-Known Member

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    Damn. Thats a nice yielding property thats for sure. I thought my pickup for $270k renting at $340 was good. Well done.
     
  7. Happy 84

    Happy 84 Active Member

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    Thanks for the reply Yes I was up there a couple of days ago having a wonder around regents parks is quite nice I think I’ll buy there for sure all the indicators look good! Crestmead was like your Mt druitt type of place nothing wrong with it at all, I encountered nice people there aswell.
     
  8. eletronic_exp0430

    eletronic_exp0430 Well-Known Member

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    Pockets of Crestmead/Park Ridge/Marsden has more new construction than Regents park which is a good indication money continuing to come into the area. Just buy well and you will be fine.
     
  9. Closet

    Closet Well-Known Member

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    Regents park is a great area in demand with fhb and is a similar socio economic to strathpine bray park etc in the north. Already established with massive shopping centre and access to employment hubs it has little land available so will help to drive prices up. It has the fundamentals to do well as it will get the spill over buyers when southern bcc suburbs get too expensive. Becoming upmarket for logan.
     
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  10. Happy 84

    Happy 84 Active Member

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    Hey mate when you say buy we’ll what are the factors you take into consideration ?
     
  11. Happy 84

    Happy 84 Active Member

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    Yes
    Thanks for your input, this is what has drawn me to regents park it’s definitely a great area and still a few 1000sq+ blocks available for Future development potential.
     
  12. eletronic_exp0430

    eletronic_exp0430 Well-Known Member

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    There are many things you need to consider. I wrote like a 30 point list while ago when I first started looking into Logan what you need to look for. Some things from the top of my head.

    * Local Employment and unemployment
    * Proximity to schools/shops and transport
    * Local GDP figures
    * Local Infrastructure works going in both private and government. Roads, schools etc...
    * Flooding
    * Value add potential
    * Rental yield and vacancy rates
    * Crime and whether its on the incline or decline
    * Local housing commission if any and where are they.
    * Migration trends. Are more people moving into the area and what main drivers
    * What is the main demographic? Elderly? Single? Families?
    * Multiculturalism - from past experience whenever there are asians/indians moving into the area it will eventually go up in value. I personally find these people are very hard working, educated and contribute to society big time if given the opportunity.
    * Business/improvement initiatives from Logan council. There was massive infrastructure planned there last year in the billions that still hasn't changed.

    There's heaps more points. All this should be part of your due diligence you do.

    The fundamentals have not changed a bit. Its gotten even slightly better from the last time I looked at the figures.

    These are all basic things any investor should be doing to get the fundamentals of an area right before buying anything. Treat this as a business but don't over analyse and become one of those analysis paralysis guys that investigate for months and months and months and don't buy anything. They always find an excuse not to buy. LOL
     
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  13. Happy 84

    Happy 84 Active Member

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    So that’s been me for 12 months lol buying now and used most of the points listed above to make my decision. Thanks for the info it will help myself and a lot of others.
     
  14. Frank M

    Frank M Well-Known Member

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    Thanks, but damm 270k i havent seen a sale for that price for a while now, with a potential to return 340pw.... nice
     
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  15. Katie

    Katie Well-Known Member

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    Just my opinion but I think Strathpine way nicer feel about it then Logan will absolutely smash Regents park as a area 30 minute train ride to the city better highway access uni going in I used to like Logan until I discovered the North side but the only area under $400.000 now is Kallangur but I see huge opportunity there also.
     
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  16. Katie

    Katie Well-Known Member

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    I get sent houses in Logan cheaper deals now then a year and a half ago I do think Logan will move but at a far slower rate then the north side Brisbane people there's a huge stigma with Logan and yes that hasn't stopped bad areas in Sydney or Melbourne going up but this is Brisbane less then half the people has not got anywhere near what Melbourne and Sydney has.
     
  17. Katie

    Katie Well-Known Member

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    There has been 3 stabbings in the last few months in Logan and a young girl got slashed 20 times in the face a few weeks ago although I don't listen to mainstream media I'm sure people In Brisbane do Logan will go up as it's Halfway between Brisbane and the Gold Coast but it's definitely a long term hold.
     
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  18. Frank M

    Frank M Well-Known Member

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    I agree though eventually it has to turn over, say 5 years from now you wont be able to buy a house under 300k 21kms from cbd anywhere in Australia regardless of its stigma, i think it will go nowhere for a few years then logan will have its spike playing catch up

    I seen the same in Melb , Melton went nowhere for 5 years even though surrounding suburbs 10kms away were booming, then melton had its spike went up 80-100k in 6months in most properties
     
  19. eletronic_exp0430

    eletronic_exp0430 Well-Known Member

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    There is stabbings everywhere in Sydney everyday of the week. Have you been to Manly on a Friday or Saturday night? Bunch of animals everywhere and a bunch of Bogans everywhere off their head. I moved away from Manly because of how it has become.
     
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  20. Katie

    Katie Well-Known Member

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    Hello Frank completely Agree with the first part of your statement I used to work in Melton I know it well yes it is a lower socio area but 40 minutes to Melbourne which I believe now has the biggest population in Australia double the jobs you won't be able to compare Brisbane with Sydney or Melbourne ever I don't think.