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QLD Logan- what are the negatives

Discussion in 'Where to Buy' started by New2prop, 21st Aug, 2016.

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  1. New2prop

    New2prop Well-Known Member

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    I am looking at buying an IP in Logan area. Can you please share all the reasons why I shouldn't invest here - crime, tenant quality, property conditions, over priced, low CG etc.?

    (Don't plan to start another Logan thread but I didn't want this question to be part of the hype thread. Just want to get the facts before investing.)

    Thanks
     
  2. RetireRich101

    RetireRich101 Well-Known Member

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    the average yield has came down to 5%, which is comparable to most SE QLD brisbane suburb yields.
     
  3. Sonyad

    Sonyad Member

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    Hi All,

    Logan in my research and data collection is a minefield and too risky to invest for margin growth

    Highways enclose the sourced area and the other suburbs over the other side, Mackenzie and spring wood have a nicer demographic on the other side of the highway being brought by mainly Asians -see council information.

    3 new development cities known by the local council since 2011 to be built soon close to Logan and its neighboring suburbs will very likely affect future appeal and drive out population growth.
    The new developments will affect pre-existing suburbs in south east Queensland area and there growth, its proven large developments affect growth around it, Prime example the story the new suburb Springfield Lakes. The sprawling Sydney affect wont happen with Logan due to issues with demographic, road enclosure where affluent investors are snubbing the area and the appeal of large developments.
     
    Last edited by a moderator: 19th Jan, 2017 at 9:52 AM
  4. melbournian

    melbournian Well-Known Member

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    Demographics - which can afford to pay more for property - your pick.

    Logan
    upload_2017-1-19_9-36-6.png

    Mt Druitt

    upload_2017-1-19_9-36-58.png
     
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  5. Kelvinator

    Kelvinator Member

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  6. bob shovel

    bob shovel Well-Known Member

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  7. melbournian

    melbournian Well-Known Member

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    haha - I have but I didn't keep the pictures.
     
  8. bob shovel

    bob shovel Well-Known Member

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    Camera stolen? :p
    Both photos are probably applicable to each
     
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  9. HUGH72

    HUGH72 Well-Known Member

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    Seeing as we are posting photos devoid of any content or analysis I thought I would join in.:p
    Screenshot_2017-01-19-09-02-01.png

    Or the Logan Hyperdome, otherwise known as the bogan dome
    Screenshot_2017-01-19-09-04-30.png
     
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  10. melbournian

    melbournian Well-Known Member

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    haha yup the apex gang demographics = Logan demographics (some parts)


    upload_2017-1-19_10-47-40.png

    upload_2017-1-19_10-48-52.png
     
  11. Darren

    Darren Well-Known Member

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    Seems people wearing hats are trouble makers.
     
  12. cherubym

    cherubym Well-Known Member

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    First time I visited Woodridge around train station and Logan Central Plaza. I feel like I am back to Noble Park around the station and Dandenong Plaza. Being priced out from both Noble Park and Dandenong, I wouldn't make the same mistake not investing in those so-called low SES areas. In the end, I am not going to live there. There will be tenants who will be living there and with a gun PM, you should be alright.
     
  13. melbournian

    melbournian Well-Known Member

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    No question abt noble park and dandenong or even Heidelberg west in Melbourne - but the question is will it replicate or have the same effect like those suburbs when Melbourne become too expensive in some suburbs hence they have to move to suburbs further out. Los Angeles and New Dallas are different, Kuala Lumpur and Singapore are different and so is Logan and Dandendong & Noble Park.

    I visit a lot of rough suburbs in Melbourne looking around houses from the ascot vale housing commissions to the werribee and invest in low SES areas in Melbourne too.
     
  14. Alain

    Alain Member

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    Council rates are expensive compared to Sydney and Melbourne which eat away at your return. You might get low quality tenants.
    Wife and i invested 2 - 3 years ago in Woodridge, we bought a cheap 1 bedroom apartment. We have had two tenants so far and they have been good. We are going to hold it long term

    Poor people have to live somewhere and just because they are poor it doesn't mean they are scum, it sometimes mean they have no choice.
     
  15. boganfromlogan

    boganfromlogan Member

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  16. The Gambler

    The Gambler New Member

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    Having grown up in Logan I can tell you that it's got some really bad areas. Up and around Logan Central is a bit dodgy. Personally I would never buy there, but somebody has to I guess as there is money to be made. My father has had an IP in Marsden for 20 years now and has never really had any large problems and was lucky to have a really great renter for about 10 years. He kept the rent slightly down deliberately though. Some of my mates still live there and one friend just sold a block of land in Loganlea for about 300k. Again, I think it's crazy money as I know the area and don't want anything to do with it, even though I end up there every year when I head back to Oz. One thing half going for it is location. It's not too far from the city on the freeway barring traffic jams and only a 35-40 min drive to Main beach with decent traffic. Personally I think it's a better location than Ipswich in that regard, but others may disagree.
     
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  17. 2FAST4U

    2FAST4U Well-Known Member

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    Yep even Compton LA is expensive these days:D
     
  18. cherubym

    cherubym Well-Known Member

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    To me, growth is a bonus investing in Logan, that I can't predict. So, as long as I can hold my IPs in Logan with positive-geared money every month, I am happy. I am not sure if that is still possible with Noble Park and Dandenong IPs.