QLD Investment Property for $500k-$550

Hi All,
I have been reading quite a lot on this forum and learning the areas.
I am from NSW. Currently have IP in NSW and VIC but looking to buy something in QLD for around $500k-$550k.
I have been reading on the forum and agree that "dual key" or brand new homes in one of the new areas like Park Ridge or Pimpama may not be one for me.

I am happy with a older house as long as its in Brisbane CBD. My investment strategy is to buy and hold so not looking at doing anything for 5-10 years. I believe buying closer to the main CBD is better growth strategy rather than buying in newer suburbs which may have higher vacancy rates and the new land releases next door could mean minimal capital growth [e.g one of my mates from NSW bought a new house and land in Brassal QLD for $380k about 8 years ago. The banks have valued the same property at $320k last month].

Any suggestions from locals of areas within Brisbane area to consider for the above price range will be much appreciated.

Happy to consider a buyers agent as well as long as they don't cost a arm and a leg

 

Not much for sale around this price now $500-$550k on a free standing house with decent land.

Northside Petrie would be my best bet. Petrie got a crapload of money pouring into the area.

Bald Hills, Bracken Ridge if you can still find anything that's not selling for $50k premium. These will be $550-$600k suburbs this year I think.

Otherwise down south I see Forest Lake, Doolandella and around there is damn hot right now. Can get something on a larger block for <$500k I would think.

 

you mean you are looking in Brisbane or just closer to brisbane CBD ? within $500k-$550 I am not sure you can get any house. Yes you can look for apartment for sure, not house.

Why dont you build new house in Park Ridge / Ripley (ipswich) / Springfield (ipswich) if you consider to hold ? I would rather invest where the price is low right now and about to raise with future infrastructure .. like rail station, schools , shopping center. just my thought.

 

Thats why you NEVER by brand new house and land package as an investor and especially not for a hugely inflated price in the edges of Ipswich in la la land. 8 years ago $380k for Brassal is pretty big bucks. You'd rather buy in the corridor towards Gold Coast like Pimpama etc....back then.

Your mate just didnt do his due diligence back then.

 

invested 525k in South Ripley in early 2018. last month bank valued it 640k. not bad as investment.

 

Thats good for you. I have no idea about South Ripley looks to be in the middle of nowhere but if your making money thats all the matters.

 

Rochedale South

 

Thanks for the tips. I will definitely look into these suburbs.

 

I understand what you are saying. For me I am happy to buy an older house close of amenities rather than new house+land in brand new suburb where new land just keeps on getting released and there is no capital growth.
I have read on this forum that Park Ridge has some very high vacancy rates.

 

Thats true.
$380k for a brand new property is still pretty good for a investor from NSW even if it was 8 years ago.
I am therefore quite cautious.

 

Are you sure about that? Who are you listening to on the forum? - you got to be careful who you listen to. Pretty much every single suburb in entire of Brisbane is under 2% vacancy.

Looks like Park Ridge is 1.78% vacancy right now. You wont find much better than that. Thats a dream percentage for all investors.

Investment Property Park Ridge, Queensland, 4125

 

Thanks.
Will look that up.

 

Thats really good capital growth.

 

What do you guys think of this;

28 Pintu Drive, Tanah Merah, Qld 4128
https://www.realestate.com.au/property-house-qld-tanah+merah-134766406

Decent to hold with development potential. In between two complexes of townhouses

 

Proximity to M1 is undesirable, just about on the freeway.

The places in tanah merah that are desirable are larger blocks on elevated land.

Seems to be clear of flooding

 

Conclusion? Nay?

Can put 2x2 duplexes with own backyard each to boost income in far future of course. Will they rent out though?

 

simple proximity to M1 means capital and rental returns could be depressed. IMHO

 

I read it here in this post (from Oct2020).
Coomera or Park ridge for investment - 500k budget [QLD]
Was a comment from a BA in Brisbane.
"Park Ridge has a current vacancy rate of 9.6%"

 

You better do to your own due diligence rather than rely on old stats and online forums. Your old enough and I assume learnt enough about life if your born in 1979 to know better than rely on information on a public forum.