QLD Tips and yield for first time investor in Brisbane.

I'd scrap decep Bay. And look south end of Logan area

 

Those are part of Logan @Brian84

 

3 out of those 4 are in Logan...

You said you don't get a good vibe from Logan so Deception Bay it is?

 

If you want to stay out of Logan for houses then your only other options up to 350k are north.
Strathpine,Lawnton, Dbay, Petrie and Kallangar might be your best options for house and land.
I don't think you would be able to get much in BCC area, maybe Acacia Ridge, Rocklea or Inala.
Rocklea is not for the faint hearted unless you can build your own levee bank.

 

6% on a $350k purchase up north won't be difficult.

6.5% on same down south.

 

I second this.

 

If you are in the apartment market there are better deals out there with older apartments that have more land value eg blocks of four or six, larger and you can purchase renovated apartments in inner North Brisbane in affluent areas such as Clayfield - other areas also include Gordon Park (great value); Wooloowin, Stafford (not on busy Stafford road), Windsor, Wilston etc.

You can pick up houses in the more outer areas at this price range however check out the property yourself to ensure it is not in an "investor ghetto" with lots of poorly kept gardens and run down homes - savvy investors purchase in areas where owner occupiers predominantly live - interestingly, many tenants care for gardens to a higher standard when surrounded by owner occupiers who do gardening...also check out areas such as Bracken Ridge which is not as far out and Fitzgibbon although ensure you go for the older part of that area and avoid the areas with over crowded new housing on tiny 320m2 blocks of land or less!

Some food for thought...you may wish to buy a Terry Ryder report as he does research on various areas although keeping in mind that some areas in the reports are already further along the "property clock" to when the report was written...

Also work backwards - ask yourself this question "What is the tenant market that I want to capture?...then source properties that fit your 'tenant profile'"

 

Hi Brian,

I did research north vs south 2 years ago, end up choose north - buying house in Bracken Ridge. Close to Bald Hills station..

I like the area and close to Chermside and Airport, my tenant is working near that area. Never been vacant since day one..

Capital growth is great since then, when people busy with Syd/Melb, we able to put lowball offer.

But you may need to stretch further in that area

 

I'd say the opposite - no offense Bob. Plenty of infrastructure happening up North.
As stated above, Marsden is really Logan-ey.

 

No worries, I've reported you. Offensive behaviour is not tolerated round here. Your days are numbered
Decep Bay will move but the yields aren't great. 12 months ago they were ok. Slightly south of dB is probably better. It's got the "Mt druitt "tag but not a lot of infrastructure or developing (?? Apart from lakes whatsitcalled)

 

Coorparoo is going through gentrification atm. I personally believe there is definitely some capital growth there. Lot of money getting injected into the suburb.

 

6 or 8 months ago when I was looking at feasibility of developing townhouses in Zillmere I was surprised you could pick up a pretty nice 5 year old 3x2 DLUG Townhouse for $350k. Rent would've been $380 - $400.

Definitely be worth a look to see what's available there atm.

Cheers,
Clint.

 

109/18 Spano Street Zillmere Qld 4034 - Townhouse for Sale #121573282 - realestate.com.au

Anyone that paints there walls baby **** yellow prior to selling must not be very clever. They're also selling with go gecko. I've never dealt with go gecko before but I've always assumed they don't work too hard to get you the best price.

If this is something that might interest you, I would try to find as much evidence as possible to justify an offer as low as possible ($280-$290). Show them all your evidence and explain how your offer is actually very good considering the comparable sales that you've printed out and cross your fingers.

If you picked it up for $300k and rented it for $340/week, I think it'd be a nice little investment.

I'm not too sure though, I've never bought or even ever looked into buying a townhouse or unit before. So prob better people around here to take advice from rather than me.

Cheers,
Clint.

 

Omg. Those wall colours! It just screams, come buy me at a massive discount!
And I gotta say, hearing an agency called "go gecko" my mind immediately thinks "car rental"....

 

I know. What surprised me is that's it's all been freshly painted! Can't be a very smart vendor.

 

Agreed!

Also, Yoronga I looked at last time I was in Brisbane. Nice area, close to CBD, transport, shops, motorway, etc.. ie looks great, including reasonable prices for near new and new townhouses...
And then there's the flooding. It has an extreme impact on the area. The council still haven't rebuilt the ferry terminal from the major flooding a few years back. Developers and home owners are offering very nice renos and builds but can't move them for good dollars. Ask an agent in the area about flooding and they have all the responses prepared, including flood maps and engineering reports. They are used to everyone asking the same questions. Some property's have been built or modified to accomodate/deal with flooding - still a hard sell in my opinion.

 

http://media.renovationsuccess.com.au/20-most-powerful-questions.pdf

I stumbled upon this as I was surfing around on the inter web as well. I think it's been really well put together.

Cheers,
Clinto.

 

Not a fan of Zillmere. Could be better prospecting elsewhere. To carry on about Deception Bay a little more, I'm not personally looking there, but I've heard people talking positively about the area.

 

109/18 Spano Street Zillmere, QLD, 4034

General CMA was $270-313k.

Bought in 2007 for a crazy high price, Wont post it to respect their privacy but safe to say they massively overpaid and it looks like they just want to break even now or scrape a small profit. I sense a blood trail....

 

Unfortunately that yield is probably too low still. Thats just under 6%. That would be cf- IMHO. Plus if there's strata etc you'd want another 1% on top.