Where do you think Logan is on the property clock?

How useful is a piece of text with no attribution to it's original author?

I'm not implying that you wrote it, but you could have. These threads can be publicly viewed by all and sundry, it's not just about members.

 

Nice. Thanks for sharing @Greyghost

However I agree with @Simon L that it's all highly speculative particularly with info from B.A. Their job is to build rapport and trust with their client base

I don't think "avoid" is the right word, nor is this my impression. More like buy low and flip, particularly as it's a rising market.

 

Hence why I said it's not my view or opinion.
Doesn't matter if Stalin wrote it, always do your own due diligence.
It is simply commentary.

I don't agree with the business ethics of the author. Also I believe a few members here have bought/hold properties from this agent, so I was trying to avoid exactly this.

So take it as you wish.
It is a BA opinion in se qld.

 

If that's how you feel then why post something that uses unsubstantiated, anecdotal evidence to ramp property on a public forum when you don't even agree with the business ethics of the author.

Isn't this exactly the reason why people should know who wrote it? What if someone is planning on using this BA? Aren't communities/networks like PC supposed to help people sort the wheat from the chaff and the BS from solid, substantiated research?

 

The way the author conducts their business has no correlation with the state of the market. I think you are clutching at straws.

The authors comments are reflective of others regarding the state of play on bris. It was a succinct newsletter hence why I posted it.

Either add to the thread or **** off to be honest. What is your point? Pick the guts out of the vulnerable part of everyone's post?

Also, I have not dealt with this BA, I have the opinion of another. So why would I slander the reputation of someone based purely on opinion of one person? I have more integrity than to do that. The BA may be a solid operator.

In all, it was basic commentary regarding Logan. Not a trash thread on various agents in the region.

Either contribute yourself or don't comment at all..

 

The author seems spot on re Ipswich - stock tightening, rents flat

 

I think its a great piece. Logical non biased

However obviousyl you are free to disgaree woth it. I think leaving it anonymous is better. So people can judge based on its content rsther then who wrote it

By the way i disagree with parts of it

 

I think logan is 930 to 11oclock

The big money was made on those that purchased say 2013 or earlier or even 2014
Obviously the herd are now purchasing right now.

I think there is a bit more growth yet but very unlikely of a boom or higher then the growth of previous years.

I think the economy is a bit fragile and not as strong as people make it out to be.

If i were investinf in lcc id be expecting average to slightly above average growth for the next 5 years or so. I think the effects of the positve news of lcc actions have already been reflected on the market

 

I would say around the 10 o'clock mark. Still some growth left but already seen a good run.

Also depends on where in Logan you are talking about, it's a big council so varies between suburb to suburb.

Should really evaluate on a deal by deal basis. There are still decent buys out there but you have to work harder to find them.

Cheers,
Michael

 

Hi Michael
Curious, what growth have you seen in Logan since you have been investing?

MTR

 

I was buying predominately in 2014.

My first purchase, a highset in Slacks Creek for $280,000 renting at $375 per week. 3 bedrooms upstairs, bathroom + one more room downstairs. I would say today that property would sell for around $330,000 to $340,000. So around 10% growth per year.

Some may say $50,000 isn't great for 2 years but I did only put in $45,000 to purchase the property at 88% lend so the growth isn't two shabby and it was positive from day one. It isn't the growth that Sydney experienced in the past few years, but then again Brisbane isn't Sydney

Pretty standard for the stuff I was picking up in 2014.

Cheers,
Michael

 

I purchased a 3bd high set in slacks creek for $252,000 in January 2015. It was converted to a 4bd i spent around 15k during settlement and it was rented from day 1 for 370p/w. The family of 10 that was approved by a p.m on here that I've just managed to get out after they trashed it! All this hype puts a smile on my dial keep on rising Slack creek : )

 

did you not know they had 10 in the family?

 

Nope only found out once the new p.m took over.
Flea's up to the new p.m's knees when she was doing the out going condition report .

 

i have no idea how the markets going to be in 2016 (I'd actually be ok if it just remains as it is)
But i seemed to see an extremely high increase in prices in 2015 in the 4114 suburb.

In March 2015 when i decided to look into the market saw properties between 200k-250k (lower ended needed some work).

By July 250k seemed the starting price unless you looked at suburbs like eagleby and seemed to go up to the 300k

Have had a quick look recently and dont seem to find anything under 300k mark anymore (unless in real bad shape)

so looks like a 20-30% increase over the past 12 months or so

 

Somehow I have reservations buying in highset/dual living properties for this reason:
A normal low set 3 bedder would normally max out 3-4 people per household.
A typical highset/dual living would normally have 5 or more person. This would increase wear and tear, and some highset have 2nd kitchen which increases the chance of a fire....

It's probably just me SANF and rick factor... but I guess the yields makes up for it.

 

I only looked at high sets, i needed a property that i could add value to easily and to be cash-flow positive from day 1 to be able to grow my portfolio. i still think the risk is always going be there in lower socioeconomic towns regardless of the property.
Even with the issues i have had since december looking around at the market the amount of growth i have had more then makes up for it. This purchase was purely to offset the lose from my kippa ring property.

 

Obviously I must have got it wrong and my assumptions that the profits I've made in the last 15 years have been due to my ability to repeatedly buy at the right time of the market , either at the bottom or just as the market is starting to move are wrong ...

Thanks for letting me know .

No one wants to shoe horn every market in to a cycle , but some areas are fairly predictable , and logan is one of those .

BTW , I think Logan is rising , it's just gone through it's previous peak so it has a way to go . People who already have somewhere in logan , they will do well

For those who are looking for some where a bit further behind Logan , somewhere which hasn't reached it's previous peak , but reaches similar levels in the last cycle , Check out Goodna .

Cliff

 

No, I don't take anything away from your achievements, but I would say there is a difference between buying properties that represent good value or at "the bottom of the market" and putting faith in a very linear and supposedly repeatable "property clock".

Sure, we are all looking for properties that represent great value, and I have read your goodna post but one thing I took away from it was that there is actually a heap of fundamental analysis of the area that you have done, you talk about viewing flood maps, overlays, proximity to services, changing demographics, rental yields, developments in the area etc etc to me this is far more important.

Having said that at the end of the day analysing historical price changes is really important too, I think it is just the whole "clock" thing that kind of grates on me. It makes it sound easier than it really is...

 

Sorry to Quote you ...

as you say , Ipswich is a large area . The Main " Ipswich " is around the actual town of Ipswich which is over 30 k from the city . Then there is the strip that extends to places like Bundamba through to Riverview and ends up in Goodna which is also in the Ipswich council area .

My observation is that these are behaving differently at the moment . Ipswich proper is only just starting to wake up . We went to open houses in late last year where we where the only people in attendance and were able to low ball easily .

Goodna / Riverview is around a year ahead . The good stuff is still coming on , but you have to move quickly and pay close to or slightly above market and prices have gone up around 20 K since we started looking in around may last year . Still hasn't reached it's previous peak , unlike logan which has gone above it's previous peak .

Not expecting a 20 percent boom this year , but more steady movement with stock levels coming down , though you never know .

Cliff