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South east QLD- Coomera, Pimpana etc

Discussion in 'Where to Buy' started by bez23, 13th Nov, 2015.

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SE Brisbane Coomera area is a good investment spot??

  1. Yes

    6 vote(s)
    35.3%
  2. No

    9 vote(s)
    52.9%
  3. Lollies

    2 vote(s)
    11.8%
  1. bez23

    bez23 Well-Known Member

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    Hi guys,

    Lately there are a lot of spruikers promoting house and land package in these areas. Claiming that it will experience the most growth and even the biggest southern hemisphere Westfield is opening in the area.

    Valuations always come back under for these property and some banks do not have appetite for it.

    What are you thoughts on this? Are the banks worries overstated?
     
  2. Richard Williams

    Richard Williams Buyers Agent - Southeast QLD Business Member

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    Loganholme, Brisbane
    Whats the average price for a 4/2/2 house and land package in that area?
     
  3. DiligentPM

    DiligentPM Well-Known Member Business Member

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    Move on...much better options
     
  4. Tekoz

    Tekoz Well-Known Member

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    Why ? Can you give some other example of the area that you consider better than COOMERA ?
     
  5. Michael_X

    Michael_X Mortgage Broker Business Member

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    4/2/2 you are looking in the mid $400,000 with rent around the mid $400, so it will be negative.

    Property investing is just demand vs supply. There is so much supply with more to come, take a look on Google Satellite maps and you can see how much vacant land there is.

    I wouldn't be touching these.

    Cheers,
    Michael
     
  6. Tekoz

    Tekoz Well-Known Member

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    Ok what about ORMEAU or UPPER COOMERA ?

    This suburb seems to be better than COOMERA.

    If you have other suburb suggestion please share it here.

    As at the moment I'm thinking about TOOWOOMBA.
     
  7. Michael_X

    Michael_X Mortgage Broker Business Member

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    I would still say they are still much of a muchness. Take a drive throughout those areas and you see apart from the new developments, there isn't much there. This goes for the suburbs south of Beenleigh/Eagleby like Yatala, Ormeau, Pimpama etc....I am sure over time that will change, but the population isn't quite there unlike newly developed suburbs in Sydney.

    Why not go closer to Brisbane CBD...find a pocket where the yields work for you and go from there.

    Cheers,
    Michael
     
    Tekoz likes this.
  8. seanbrissy

    seanbrissy Well-Known Member

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    The fact that property spruikers are promoting the area and bank valuations are coming in convservative is enough warning isn't it?
    There is an abundance of supply anywhere south of Beenleigh, too much supply will put pressure on CG and yield.
    For the same money your spending you can get much closer into the CBD with much better CG prospects, and depending on the area you could get cashflow+ with arguably the same if not better prospects of CG than Coomera and surrounds.
     
    DiligentPM likes this.
  9. Tekoz

    Tekoz Well-Known Member

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    @seanbrissy well, I have just bought one in Park Ridge (new H&L package for $308,500). Before that I was offered by a reputable buyers agent in Sydney that I engage to pick investment property with long term growth in mind for under $400k, they suggest those two area: UPPER COOMERA and ORMEAU.

    Where else can you get high yield or CF+ property in QLD ?

    PS: Long time ago when I was still gullible, I almost get sold by JDL strategies to but 4/2/2 house in COOMERA for $438,000 in 2011. Almost... But now when this Buyers agent has suggest me to narrow done the suburbs to those two I mentioned above, sadly I can only say no and lost some engagement money.

    Now I have bought myself new property which is free from issue like that you mentioned in a good estate for cheaper price no buyers agent involved.
     
  10. Tekoz

    Tekoz Well-Known Member

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    Hi Michael,

    So how does COOMERA / ORMEAU compares with NSW suburbs Mt. Druitt or Leppington ?

    @datto brother maybe can help chime in here :cool:?
     
  11. Michael_X

    Michael_X Mortgage Broker Business Member

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    Mt Druitt of Brisbane would be Logan - aka Mt Druitt with Palm trees.

    You could say Coomera/Ormeau is closer to Leppington but can't really compare as the population isn't there.

    Cheers,
    Michael
     
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  12. Michael_X

    Michael_X Mortgage Broker Business Member

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    Hi Tekoz,

    If you want to make money from property investing. View yourself as a problem solver. If you solve a problem eg. cosmetic reno, subdivison, cleaning out bad tenants etc you gain from solving the problem and the equity increase that comes with it.

    If you buy OTP properties, what problems do you solve? None. The developer/builder has solved the problem for you and taken the profits for themselves.

    The only way you can make money from these purchases is through the market, and you don't control this - it's purely speculation.

    You might get lucky once or twice, like more Sydney investors over the past 2 years but can't do this all the time.

    Cheers,
    Michael
     
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  13. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    This is so on point and simply put. Love it @Michael_X
     
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  14. Lisa Parker- Buyers Agent

    Lisa Parker- Buyers Agent Well-Known Member Business Member

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    Melbourne
    It concerns me that a Buyers advocate from Sydney was advising you on QLD property. Were they advocating H&L purchase or existing? Were they really a buyers advocate?
    There are companies out there stating they are buyers Advocates when they are actually just marketing or referral companies.

    I hope your project goes well for you.
     
  15. Tekoz

    Tekoz Well-Known Member

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    Well they are suggesting to buy existing in those two areas mentioned above.
    similarly JDL Strategies also tried to sell me COOMERA 4/2/2 new house for $438,000 back then in 2011.
     
  16. datto

    datto Well-Known Member

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    Teko, my personal opinion is that you can't compare these places with The Druitt, which is the real deal Bogan city.

    Coomera and Orm....( I can't even pronounce the second one) sound like cheap imitations. I know you're looking at SE QLD but remember there are a lot of BMW drivers who secretly wish they drove a Commodore (I see their expression when I pull up next to them).

    You want to make money Tekoz, OK go to SE QLD. Otherwise splash a little more cash and take a bash for the trash in Sydney's outer west.
     
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  17. Richard Williams

    Richard Williams Buyers Agent - Southeast QLD Business Member

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    Loganholme, Brisbane
    My recent purchase in Logan, 250k 3 bed highset on large corner block now renting for 380/week. Deals are around!
     
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  18. Tekoz

    Tekoz Well-Known Member

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    @rico2011 whereabout in Logan ?
    my $308,500 Park Ridge property will be rented approximately $350 per week as per the estimation when it is build on 2016.
     
  19. Richard Williams

    Richard Williams Buyers Agent - Southeast QLD Business Member

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    Location:
    Loganholme, Brisbane
    Loganlea.
     
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  20. larrylarry

    larrylarry Well-Known Member

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