QLD Next Investment Logan or Townhouse closer to city.

Hey there looking for my 2nd investment have one on a big block in Moreton bay trying to decide where to go next your opinions would be great thanks guys.

 

Logan I’ve seen a lot of people selling up there Can actually get better deals there now then a year ago when I was looking nothing seems to be selling guess the banking royal commission has a bit to do with it I’m glad I went with Moreton bay with the uni and the projects going on out there.

 

I believe Logan’s stigma let’s it lag behind a fair way not areas like Springwood Cornubia and premium parts have done well from spending a lot of time up there Brisbane people laugh at Logan it’s on the news nearly everyday you cant keep comparing it to Mount Druit in Sydney either no where near the same I believe it will start doing well in about 5 years but I’m thinking about Townhouses close to the city in blue chip areas will do better.

 

Hi Katie, I was in the same boat a few years back. I was looking at Logan & Redcliffe older houses that had development potential. I was overseas & used a buyers agent that said I'm much wiser looking at a unit for the same price closer into the city. I bought a townhouse in Morningside, the price hasn't moved & body corporates are not ideal when it comes to holding costs. would have been better investing in my original plan. Goodluck

 

Wow just looked at prices there pretty expensive normally buyers agents will tell you to buy house and land I believe I can get a house in Logan on pretty decent land for around $280.000 around Xmas the yields are great like always would just like to see Logan start moving a bit I know it will in maybe 5 to 10 years also considering Adelaide but can’t stand the place lol.

 

What kind of townhouse in Everton Park are you thinking about?

 

Hi @Katie, I looked at about 10 places yesterday, but didn't see much for under 300 unless required a bit of fixing up. Which area did you find 280k in?

 

Here are the numbers on a house I bought for a client that went unconditional 3 days ago;

• $277,500
• 3 bedroom brick house
• already tenanted to long term tenants @ $340pw
• 650sqm~ corner block with side access and more than enough room for granny flat in the future
• In one of the better suburbs in Logan

In fact more than 12 of the properties I've bought for clients in the past 2 months were sub $300k!

 

So will that townhouse in Everton Park...
Look at the trends...invest ahead of the trends. Real estate has relatively stable direction and trends of what's going to happen in 5-7 years out.

 

What's the budget for the next one?

Cheers,
David

 

Hi @Katie, it will probably be worth sitting down with your broker and accountant to define the strategy/goal first.

That will help figure out what the next best move should be from here and in what state/burb...

Cheers,

 

The inner southside Moorooka -Annerley -Dutton Park ,would in imho be worth a look as some of the 2 bed walk ups have been on the market for over 8 months --some without any offers ...imho..Or you look a bit further out on the southside and there is value everywhere..
10 Trevino Place, Wacol, Qld 4076

 

Hi Katie where in MB did you buy and did you use a buyers agent?

Cheers FC

 

nice one..!

do you mind sharing which suburb you bought this in?