QLD Redbank Plains or Goodna for Investing?

Hi All, I want to invest upto $350k in QLD. I've been looking at Redbank Plains and Goodna. Goal is to positive gear in a couple of years or as soon as possible. Is anyone able to shed any light on the prospect of these suburbs?

 

Here ya go.....the demand for property in Redbank Plains is ordinary..try Moreton Bay..

How would you compare Petrie 3'1 vs Goodna 4'2

 

My brothers son has 2 just back from redbank plains ,bought about three years ago,3 bed i bathroom internal car storage but very small blocks,he bought 2 side by side..It's a very small street cars park on the footpaths end then backs onto golf course ,they been rented from day one,and $325.00 per week rent ,i think the son paid less then 250k,and they revalue up around 330k now ,he's happy..imho..

 

Goodna is still below peak of 2009 . We bought several a year ago which are up around 10 % . Settling on another in next couple of weeks in Gailes .

Ironically our one four bedder is the one that takes longer to rent ...

We've been buying ex houso's which we're around 230 but are now between 250-260 in Goonda Gailes and 230 in Riverview .

We went for the lower end because they are often closer to the railway , but also the rent of the more expensive ones isn't that much higher compared with the extra cost .

We did see a couple good deals in Collingwood park when we first started looking , but I really had a problem with the suburb name ....

Cliff

 

Wow....Apprentice Timing Lord.........hats off...that is something like 14 purchases in one area i.e. Goodna, Gailes, Riverview....... gee...I reckon....you are madder than an Mainlander in Macau playing cards......or you know something some of us don't..do tell.

I guess you are doing ...what you did in Rocky......anyway I like your style of big bets...it takes cahones.

I would have thought given the huge dollars you have made since moving from General Practice in the Druie to Northern Beaches.....you would have hung up white coat..

Asked the "Rainman" and he reckons that prices have not moved much in Goodna ..Gailes....having said that Kingston and Woodridge are in the same boat...despite all the musing...

 

I'd probably go Goodna of those two. My brother has bought two there in recent months and bought very well.

Ryder touted Redbank Plains as the one to boom from here didn't he? No mention of Goodna. So that's two votes for Goodna from me.

 

Wow! That price for cliff's properties in goodna is now very tough to look for!

By the way, what are the people's comments here for long-term hold of properties in goodna/gailes? What is the current driver of this market?

 

Below are price growth results via Pricefinder for suburbs mentioned in post above.

 

These are

Good...nah...... not good...you need better quality properties...you are buying major headaches over the longer terms.

High holding costs for maintenance...rates...etc. ...flood insurance is a most...insurance there would easily cost 1600 plus including compared to other parts at 850 to 1000. All adds up...

 

14 ... Where did I mention 14 ... Less than that

Personally , I think it's easier to spend time researching one area than a whole range of areas. Having multiple properties with one pm means that they take you more seriously .

Most of the time we buy several properties in one area .

It's the diversification vs specialization argument . I'd prefer to put my eggs in one nest and watch very closely than trying to watch a whole range of places, though we do have properties in a few areas now .

I'm going to correct my self now . Looks as though Goodna has reached it's previous peak .though Gailes is still below it's peak , thought the figures quoted above are different to what I've seen in the past . .

On the weekend , My son told me his Goodna purchase was negatively geared for it's first year , to a tune of $ 300.00

Cliff

 

Sash, the properties my brothers son bought are just walking distance to the railway station at Gailes ,maintenance wise they are less then 5 years oldbrick tile apart from painting maybe a hws very low costs to run so far ,plus they are in a high non flood zone,properties in the flood zone in that area insurance will start at 2.5 k ,i helped him buy these 2 investment properties and when we drove into that small street maybe 24 houses and outside several were several basketball hoops Islander children playing in the street curtains slowly pull by the mothers on the windows watching us and their children,and the tenants were Islanders ,all i said to my brothers son was you will never have a problem renting something like this out as most in this street are family..imho..

 

There seems to be a few stocks in gailes at the moment than goodna.
What about bellbird park? Although this is further from the station though...

 

Thanks Sash. That's great information.

 

Thats good info. Thanks Cliff.

 

Ah , now you're an expert in Goodna ....

simple , don't buy in flood risk areas . we don't . Most places are not flood prone and the worst flood affected area is the commercial centre .

BTW , flood risk properties with NRMA are 6000 .... I know you can get cheaper than that , but a simple quote from NRMA tells you whether a property is flood risk or not as well as checking with PD on line .


Cliff

 

Gailes is quite a nice area , bit more convenient than goodna . We try to buy there if we can .

Cliff

 

Hell

thanks Cliff for sharing knowledge in these areas. Gailes seem to be a good buy at the moment.

 

The one we're waiting to settle on is in Gailes

Cliff

 

Year 2003..i though KingstonWoodridge was good, but look at Gailes/Goodna...

 

That would potentially be the the least of your problems in Collingwood Park.
I wouldn't touch it due to subsidence and the general stigma associated with it.
You might be on to something though with Goodna.