QLD Where to invest 650k in Brisbane

Have you purchased any property through them?

 

Being Andrew's second recommendation here, are you able to provide some feedback about him. Is there anything which sets them apart from other local BAs?

 

Is it realistic to be targeting investment grade properties within 10-15 Kms from the city or would I need to look further out?

 

It's a very popular and in high demand suburb for owner occupiers, not driven by fickle investors so i dont see values plummeting tbh and only rising over time.

Personally I dont believe its the best time to sell simply due to the strong demand and type of demographic buying in there. Do i have a crystal ball though? No. Anything is possible in this game

 

No i haven't but only heard great things about him. As always, do your thorough DD before making any informed decision.

 

Why would I buy a run-down property?!

 

Quote..
We'll be using a BA but just wanted to narrow our criteria/options.

That's why new investors find the whole process intimidating as they run a magnifying glass over future investments -shares -start-ups -property based -does not matter 0.0001% ...

And that is the difference between me and you ,one will look only at the problems they face in a house like the above..That property was sent to me 2 days ago from people that i work with who target those properties which fall under the ucv land value price wise ,and what can be done with 80k to complete ,we are all different..

 

Kurabi,
I would recommend talking to an accountant as to the depreciation benefits of buying new. We also recommend talking to a financial planner to ensure you have the right risk protection. My office is located on the Sunshine Coast if you would like to catch up otherwise Happy to have a chat over the phone if you need any assistance. There are some great opportunities throughout SE Qld just be cautious of areas saturated with investment properties.

 

Just have to ask the question-Why would one be cautious of areas saturated with investment properties?.

 

1. Not pay a premium for it
2. Might be able to add value and increase rental yeild by a simple cosmetic reno.
3. Might be a development site with a rundown house on it waiting demolition.

Personally I never will buy a 'beautiful' property because 9/10 times you'll be overpaying for it, sometimes significantly.

With regards to 'depreciation benefits ' some people naively get carried away with...well nothing wrong with depreciation benefits IF the overall deal makes sense first. No point getting depreciation benefits if your paying a premium of 80k for the property or buying a property in a very low demand/no growth area just to get some depreciation.

 

I think you are being realistic, you will be still somewhat limited but if it is a standard house on a standard block okay obviously depends on location and suburb appeal .

 

I understand your point of view but for our first IP this is probably not an option for us.

 

I guess because your property will be competing for tenants with other investors, more risk?

 

We are not buying new...not in our budget and doesn't meet the requirement of buying 10-15 Kms from the city.

 

Every property we have ever bought bar 1 was a total basket case.
Its a good way to make money but there is also an argument for just buying an already good property in a hot market as you dont waste time
Buying a **** property in a good area works well in a slowish market but if you are accumulating properties and have good servicability and you know how to pick rising markets then rennovating and inproving a property can be a waste of time and resource

Note that there are a lot of 'ifs' in making money out of buying rennovated or new properties. If you cant satisfy all of the ifs above then a good fool proof strategy is buying the run down house and getting the hands dirty
Provided you understand the financial costs of buying a house and rennovation costs vs final values

 

Mansfield, Wishart

 

Looks like the secret is out...

These are the Queensland suburbs where homes sell the fastest

 

Can I get your opinion? I've been looking in Grange, Newmarket, Gordon Park, region for the last three months and in the current market, I don't seem to see any bargains. In fact, I feel like places are over priced instead of seeing deals. What tips do you have for finding deals?

 

I can only use myself as an example...and I never said it's going to be easy when you are looking for something below market or very attractively priced. Plus its not a buyers market atm.

What I do is setup/save a search on realestate.com.au and domain.com.au with ALL the suburbs I want to focus on, put in your criteria (for me, just 'House' will do) and refresh your screen every hour at least.

You'll probably get a property or two being listed each hour and if something piques your interest, make an enquiry and go from there.