QLD New to the scene / Where to buy QLD.

Sure which is why ultimately asking for help, if I don't ask questions, voice my ideas or ask for opinions and learn (and learn from mistakes) ... I probably wouldn't be where I am today.... Your post is appreciated but apart from that, I'm aware I need to do the dirty work. Which I've said already .


Thanks Willair and Simon L I'll get researching!

 

Stay the hell away from Logan ...Eagleby etc. Do not let anyone convince you that these areas are good ....they are totally rubbish a lot of Sydney idiots bought there and there is an oversupply of rentals....the locals won't touch them. The better parts of Logan are okay..but they are the same cost as better areas closer to town....

Stick to owner occupied suburbs....you will need to spend 450-600k to get something of quality now...I am taking houses.

Stay away from T/H or Units unless they are 3-9 klms from town and are older walk-ups ...say 6-8 packs on decent land (700-1000sqm). These are undervalued ...and if they are rough you can pick them up for under 300k ...a quick gut job for under 18k...and you get decent rent.....

 

welcome to the forum Daniel @Daniel Wood

the point is for many ppl, due to the current lending conditions, they are likely to stop at 2-3 properties ( on average, depending on your income, purchase price, rental yield....), in other words, most ppl have a limit of borrowing ( more or less depending on the lenders), once you use that up, it is difficult to get more, i.e your borrowing power ( serviceability) is a previous resource, used it wisely, plan ahead, consider capital growth vs rental yield, you need to find a balance.

 

I have found one of the best ways to learn the basics and avoid many of the easily avoidable mistakes is to get a few good books and learn . Forums are very good but personally I believe the best learning of the basics is done though some structured format. I'd be wanting to get a few good books and learn the basics that way . Then use the forum for clarification and follow up questions . You said "I'll get researching" but the question is do you even know how to research and do DD?

I've always believed trying to learn the basics from a forum is quite a messy/chaotic approach. But we all learn differently so do what suits you .

 

A bit like Moorooka but on the northside - have a look around Stafford, Kedron and Everton Park. Look for a place with easy access to a train station or at least the pick up point for express buses (see translink website).

We own a townhouse and the council rates plus water bill is about $750 a quarter (which I still winge about) but my BC is only $250 per quarter,, which is unusually low. It is a tiny block of five units and the community water use is minimal. Those big complexes charge appalling fees and notoriously water gets wasted because water is charged to the owners and the tenants can only be charged a tiny percentage of the water fee.

The THs where my mother lives in Everton Park seem to rent and sell easily. It is a larger complex of about 30. Being about 20 years old, they are all quite spacious. Very comfortable location. The single-storey ones are very highly sort after because most townhouses have stairs.

 

@Daniel Wood I would seriously suggest targeting areas with a much tighter supply/demand equation and also go for the tightest rental vacancy you can find (in your price point which is limited of course). Older complexes, no pools, tennis courts or lifts are often better for cash flow given they are almost always lower in strata fees too.

 

Yep 100% agree....the land value locked in these smaller complexes will be gold in the future...

 

Thank you all for the great suggestions and opinions, very much appreciated!

Fully aware I need to learn a fair amount more before diving in. But all this helps so much!

 

mmm...
Strata = Body Corp? so 50 bucks a week. Not over the top. Does it include a BBQ area, swimming pool, tennis court?

Rates I'm assuming include water from what I can gather from your next post. looking at around 300-350 a quarter for water, so that makes your rates around 2400 a year. Seems a bit exxy. Is it a 3 or 4 bedder in a good area?

But 94 units in the complex... not for me. I prefer 6 pack walk ups. They pop up in the right spots, you just have to be vigilant and check RE every day. I found checking RE every day was a good way to get to know the prices of suburbs and you'll eventually get to see some bargains appear for the right reasons. Always offer less. If you lose out, doesn't matter. But you never know how desperate the seller is.

 

Strata = BC

Does include bbq and pool. If I were living there I'd be happy paying it in a 90+ complex, but I'm not. The inclusions could be a winner for some renters (especially the pool in QLD).

3 bedder, apparently not a good area, so cheap though. Obviously a reason for that...

I think I'll stick with my original idea of a unit in/near the city.

 

Your original idea was to target students by purchasing a unit in the CBD. Pretty poor idea and conclusion if you're wanting to grow a portfolio and need CG asap. At the very least I'd be staying away from large unit complexes and look at boutique buildings.

If you are silly enough to buy in those massive, no scarcity factor shoe box apartments, then Its almost certain your asset will perform very poorly for a long time to come.

 

That wasn't my original idea at all, where did you pull that from?

 

Yes but not my first idea, that's just what I posted.

 

Some ppl are teachable and others not so much . Wish you all the best with it.

 

I really just don't like your approach at all, from the beginning.. it put me off wanting to speak to you, or take anything you said seriously. Bye.

 

If you're gonna be that precious then good luck succeeding with RE investing .

 

Bye!

 

Have you considered the inner, established suburbs of Ipswich? Limited land, close to ammenties, and properties brisbanites are willing to travel to work further for. Bang for your buck. Few things to watch for, but the past 5 years is showing positive trends in these inner areas, especially as emotional o/o drive up prices.

Queensland's regional towns emerge as top house price performers for 2018

 

I haven't, I'll check it out, thank you!