QLD Northern suburbs of Brisbane feedback

@trinity168
Yes that's correct

 

Hmm.. PF results are more on the upper right quadrant, while Ripehouse lower right quadrant.

 

Sorry of these are dumb questions but Can some one please tell me that what these maps mean? Also what is PF and HC.

 

Would you mind sharing the growth you've experienced and over what timeline?
It's amazing in that rectangle I put forward the accelerated growth that has taken place (especially over the last year. Still some good opportunities with some o/o downsizing now their kids have left the nest... so can pick up some really solid double-brick homes built in the 80's that need purely a quick cosmetic spruce up to manufacture some equity.

 

Too early to tell yet. We settled on a little brick veneer 3 bed/1 bath/under roof car port late October last year. It was an old dears house that went into a home, so although a solid late place it was very dated. Purchased for $375k and spent $27k ish on a renno including knocking out the wall between kitchen/living, full repaint, re-carpet, spruce up bathroom & WC and some outside painting. It came up a treat. Purchase plus reno plus odds and sods probably sees us at just over $400k buy-in plus costs. Renno wasn't finished until end of December then struggled to get a tenant with Christmas/New Year. Rented late Jan. PM's sales dept appraised it around $410k but I'd like to have a roper val done shortly. @jchan86

 

@Pash81
PF - PriceFinder -- get 3 months access for free when you subscribe to API magazine.
HC - housing commision

 

Congrats bud! Yes it's the solid homes that really just require a bit of love to bring it back into play! Weekly rental if you don't mind sharing. Hang onto that one for a year... I'm sure you've been keeping an eye out on recent sales in the area too!

 

@jchan86 we thought initially $380-$400 but the PM thought it was worth a punt at $420 given then renno. Bit of a mistake, especially on Christmas. Dropped to $410 early Jan and got a little more interest but as soon as we listed at $400 we were set at it let straight away.

 

Bugger about the timing so a lesson learned for next time. Congrats on still picking up a cracker of a buy at that pricepoint in that area, and as from your experience, a majority of the work was cosmetic especially with the O/O loved but dated houses. At least renewal is around that time for 2017 try to push for a lease renewal around mid-February so you can advertise in the 2nd/3rd of January if you're going to go for the rental increase... although I haven't seen the property (let's go to PM)

Towards the end of Jan/early Feb for Bracken Ridge is when the rental market is at its peak; but best to get someone in rather than waiting, otherwise it's a nil-sum game.

 

Not a bad spot - and you're guaranteed to always find a seat on the train.

 

What are peoples thoughts on the capital growth potential for Bracken Ridge townhouses? I've had my eye on a couple there (3 bedders) but as this purchase will be my first IP I'm concerned the capital growth might not be there and it then won't do me any favours helping me buy additional properties over the next few years.

 

What is your budget?

 

Bracken Ridge is an up and coming suburb. Why not buy a house although townhouses are a good compromise between houses and units?

Can you share what townhouses that you are looking at?

 

Budget is $400K

Here's a couple we've looked at. Thoughts?

15/8 Ruocco Street, Bracken Ridge QLD 4017 - Townhouse For Sale - 2012568029

92/21 Emma Street, Bracken Ridge QLD 4017 - Townhouse For Sale - 2012512735

 

Why not buy a house. Also Deagon has houses under 400k.

 

I'd agree with Whitecat that a house in Deagon is better value long term. Can't see any problems with the 2 you've shown. What are body corporate fees, expected rent and rstio of owner occupied to investors?

 

Both are in big complexes which means the selling price is set by the last one in the complex to have sold. Quick look, the one in Emma St last sold in 2009 for $349k!! It has taken the current owners 7 years to go backwards $30k.

Have a read of this thread QLD - Brisbane outer ring townhouses

 

Just had a read of the above thread. Below is some great advice from Rixter re townhouses:

@BarneyRubble. I have made a motza from near new/modern villas and townhouses, having doubled / tripled in value and yield.

The idea is to purchase good quality, well located property in high density areas (in metro area of capital cities), at or below fair market value, as fast as we could reasonably afford and then hold them long term in order to realise there compounding CG.

We chose to purchasing near new property over older style for the following reasons, in no particular order:

• To maximise non-cash depreciation deductions

• To minimise maintenance & repair costs

• More modern & attractive to tenants, thereby minimising potential vacancy rate

• Attract higher rent, thereby maximising yields

Without getting into the "which is better debate, houses or Units", our preference is for townhouses & villas with a 30%(of lot) land area courtyard so as to eliminate high rise apartments that only have balcony's, for several reasons in no particular order:

• lower maintenance & upkeep for the tenant

• lower purchase and entry level into a higher CG suburb

• rapid growing market demand for these type properties - one of the largest groups being the Baby boomers coming into their retirement years and having to downsize for financial & lifestyle reasons.

• greater cash and non-cash tax deductions in relation to IP purchase price, therefore maximising portfolio cash flow.

• able to hold more IP’s across our portfolio - thereby minimising suburb over exposure risks and maximising portfolio compounding CG exposure across increased multiple markets.

Early on in our journey we looked to purchase in metropolitan suburbs with a 7% historic CG that were approved for and/or were about to undergo gentrification...and that allowed us exposure to short-middle term CG to leverage against faster. I looked to where the government, commercial, retail and private sectors were injecting money, which ultimately beautified and uplifted the overall feel of the area.

This in turn attracted people wanting to purchase, thereby creating demand and putting upward pressure on prices. It also increased our rental yields due to the demand of people wanting to rent in these areas as well.

Later purchases we targeted metropolitan satellite cbd’s. We found these to be very good consistent CG areas with main arterial roads in/out of the suburb, public transport hubs, major shopping precincts, with high employment, good educational, medical & recreational facilities.. All the things people want to be located close by to and/or within easy commute.

I hope this helps.

 

Yes. I would agree here with the above .

 

Any thoughts on Murrumba downs area?

I am quite eagerly looking to bug an IP in Northern suburbs of Brisbane. Most likely in Braken Ridge, Murrumba downs, braypark etc..areas. Any ideas what go look for and how to decide weather the asking price is ideal for excessive?

Budget wise I can spend upto $500k.