QLD North Brisbane

Discussion in 'Where to Buy' started by Mr Dabolina, 24th Dec, 2015.

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  1. sash

    sash Well-Known Member

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    I am going to hold you to it...and blame you if my deal goes bad. ;)

    Thanks for sharing your knowledge of the areas...have a few already there...agree about you comments.
     
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  2. Angel

    Angel Well-Known Member

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    I went for a drive around the older area of Bracken Ridge this morning - the housing section. I had trouble finding a HC section as the homes appear to almost all be recently renovated. They are certainly well loved. They don't look like Logan HC, they are weatherboard family homes built in the 1960s and early 70s.
    We know someone my age who grew up in one of those homes when his parents migrated from the UK. In recent years I would be more familiar with the newer brick estates so thought it was time to reacquaint myself with the older homes at the bottom of Norris Rd.

    At 9 am on a Monday, the place was deserted. All but three properties appeared in very good condition, and I would consider investing there myself if I found the right numbers (I have not researched that side of things). The local scene was silent although I got out of my car in Bellicent Rd and could hear the din of traffic noise on a nearby main rd. The streets off Glenore Rd (mostly brick) reminded me of driving around The Gap, Ferny Grove and Albany Creek, all similar family-friendly suburbs. Yes, there are some homes clad in hardiplank at The Gap - hardiplank was "the new best thing" when it first came out.

    Again don't take my word for it - check it out yourselves with someone who actually uses government websites for data.
     
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  3. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Hi @Tim & Chrissy,
    Have you had a look at Deception Bay?
    Read a couple of your posts and it seems that your at a serviceability limit also. Deception Bay has low entry price and decent yields.
    I just bought a 3,1,1 house for $232K, I have to do a $15K reno, which I'm embarking on right now. It last sold in 2006 for $200K. Turning it from a 3br to a 4br which will help increase rent and re-val prospects. Have had interest for $350/week rent, as long as we turn into 4br (just inserting a wall). That will be a 7.3% yield.

    Also, I'd be very wary of TH in North Lakes, or D-Bay and surrounds. There are a stack of cookie cutter TH, and don't have any scarcity value. A lot of supply. The yields look attractive at first but it gets eaten up by all the fees that come along with it. Make sure you calculate all the numbers.
     
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  4. Patamea

    Patamea Well-Known Member

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    @Taku Ekanayake its really great watching your journey from the sideline, sensational stuff :)
     
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  5. Rich2011

    Rich2011 Well-Known Member

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    Yes and probably a Costco coming soon too, there are DA signs up all over the place in Loganhome, doesn't mention Coscto but they are all saying thats what it is.
     
  6. Whitecat

    Whitecat Well-Known Member

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    I would stay away from Northlakes. It's far and you're paying for the new age of the property.
     
  7. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Thank you for the kind words @Patamea.
    I couldn't agree more with your profile pic. Creativity follows commitment.
     
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  8. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    I'll take a look at deception bay, I was generally trying to stay in the suburbs with new railway stations for future growth.

    Finance is sorted now but just had to find a new car after ours packed it in and I'm flat out at work so the search has been put on the back burner unfortunately
     
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  9. Mr Dabolina

    Mr Dabolina Well-Known Member

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    @Tim & Chrissy Just because a new railway line (one connecting to existing rail) is going in does't mean that it will necessarily equate to growth. As @Angel pointed out... Brisbane folk are different on their views and use of public transport so it might take some time to catch-on. I did some "on-the-ground" research late last year and I think Deception Bay has potential and is going through Gentrification but at a slow rate. However, if you can find a deal like the one @Taku Ekanayake got, then it makes commercial sense and you should get some good medium-LT growth just be careful of the highly concentrated sections of Public housing.
     
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  10. Needles

    Needles New Member

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    Not sure if this has been mentioned yet but Strathpine around the old Westfield and train station is set for some zoning changes on 1-2-16. These are to support more growth. I don't think property prices have yet reflected this coming change.
    MBRC Planning Scheme
     
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  11. trinity168

    trinity168 Well-Known Member

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    Which areas would have high concentration of Housing commision properties @Mr Dabolina ?

    Thanks.
     
  12. Mr Dabolina

    Mr Dabolina Well-Known Member

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    Area north of Deception bay rd and West of Bailey rd.
     
  13. Coota9

    Coota9 Well-Known Member

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    image.png
    Darker areas represent higher concentration of public housing
     
  14. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    I have started to look a Deception Bay (thanks for the map @Coota9, I've already found one to avoid in the high concentration area).

    Normally I'm up for a reno but being so far away I worry about managing it (normally I do my own kitchen, bathroom, tiling and flooring where possible). How are you managing the trades? Is it easy to get trades in? I know with my IP on the Central Coast it can be a nightmare at times.

    Like you said, those TH's look attractive but I'm assuming the agents don't list the body corp fees for a reason.
     
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  15. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Hey @Tim & Chrissy
    This will be my first reno's that I'll be embarking upon. I have the assistance of my property manager who has been helping me source a trades and helping me coordinate. She will also help me project manage in my absence (I'm in Sydney). I'm heading up to Brisbane this weekend to paint the kitchen and to show face while the builders are doing their thing.
    It has been quite difficult finding trades in at his time of the year, they have been backed up due to Xmas/NY period.
    I am excited and nervous all at the same time lol.
     
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  16. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    Show up in a high vis shirt and hire a ute, you'd be surprised what that does to your final trade bill ;)

    Feel free to get in touch if you want any reno advice or help, I've done quite a few over the years.
     
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  17. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Haha sounds good, probably won't have access to a ute though.
    Thanks man, will reach out when I have questions
     
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  18. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    In that case show up with a slab of XXXX to give you some 'street cred' in QLD, don't do it before lunch though otherwise your 4th bedroom wall might wind up a little crooked :D
     
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  19. Mr Dabolina

    Mr Dabolina Well-Known Member

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    Just signed a contract for a IP in Kallangur so might have to hit you up for details of any good tradies you come across @Taku Ekanayake
     
  20. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Congratulations @Mr Dabolina!
    My reno's start tomorrow and aiming to finish on the 1st Feb. I'll let you know how my guys go. I found my guy on Airtasker.com.au. Also check out ServiceSeeking.com.au.


    Cheers,

    Taku
     
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