WHERE & What would you buy at the moment?

Discussion in 'Where to Buy' started by Skyegirl, 27th Nov, 2018.

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  1. See Change

    See Change Well-Known Member

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    I’d agree with you . IMHO they’d be silly offers .

    Cliff
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    @See Change - I recently heard about some building out west in Olympic Park. Apparently you can snaffle up certain units for a 50%+ discount on the prices they were asking for OTP. :rolleyes:
     
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  3. johnmteliza

    johnmteliza Well-Known Member

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    Here is a recent example of how hot the Mornington Peninsula market is. More the reason to buy in the Merricks/Balnarring beach area.

    $6 million Balnarring beauty is an elegant American farmstead-and-Hamptons-inspired property hidden inland on the Mornington Peninsula. The property is making waves at the top end of the market being the most viewed listing in Australia to end 2018 and kick start the new year on realestate.com.au.
     
  4. johnmteliza

    johnmteliza Well-Known Member

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    Ms McLaughlin said the Somers market had grown strongly in recent times, with plenty of buyers looking to buy holiday and weekend homes. This part of the Mornington Peninsula was growing popular among city buyers and those seeking to invest for future retirement, she said.

    79 Bayview Rd, Merricks Beach was going to sell for $2.275 million and the owners intended on re-investing back into the market by building another new home. This really shows how many people are long term residents who continue to buy back into the market after sale by upsizing or downsizing.

    Another cashed-up Mornington Peninsula buyer bought back into the Balnarring market and edged out an out-of-area bidder to own 257 Myers Rd for $1.91 million.

    Nearby typically affordable Baxter also had its price record smashed in mid 2018 with 231 Baxter-Tooradin Rd selling for between $2.5m - $2.75m. This really shows the diverse range of properties available in the area and different types of buyers in the market.
     
  5. AJ061

    AJ061 Well-Known Member

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    Hi there,

    Which part of Carindale do you recommend?

    do you recommend buying in the are closer to Carina and Belmont as highlighted attached map? My budget is mid to high 600k and hoping to get something with 600sqm.

    Thank you in advance.
     

    Attached Files:

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  6. AJ061

    AJ061 Well-Known Member

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    Hi all,

    Where and what would you buy with 700k as an investment?
    Preference is Brisbane but I am trying to not be biased as I live in Brisbane.
    I have been looking at the followings in Brisbane: Preference is a 600sqm block.
    Kenmore
    Holand Park
    Holand Park West
    Mount Gravatt
    Mount Gravatt East
    Upper Mount Gravatt
    Carindale
    Carina
    Carina Hight

    Dont mind a bit of renovation, as I am planning to live in it for a year, so can do a bit of work while living in it.

    Thanks all
     
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  7. Sackie

    Sackie Well-Known Member

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    If I had 700k to spend in Brisbane I'd be looking to buy as close to the CBD as budget allows, house on at least 600sqm and look for a value gap area with good add value potential. Too many folks think yeild and short term plays which imo isn't the best strategy for Brisbane. Focus on medium to longer term hold periods of a sold asset in good demand and you should do well. Really try to identify value suburbs eg disparity in prices but distance from each other is not great. If you can buy the ugly duckling with good bones and fix up then even better.

    Good luck
     
    Last edited: 21st Jul, 2019
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  8. AJ061

    AJ061 Well-Known Member

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    My challenge is identifying the right suberbs and i tend to jump from one to another.
    What would be the best way to narrow it down and what suberb would you be looking at if you don't mind sharing?
    Cheers
     
  9. Sackie

    Sackie Well-Known Member

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    I haven't done comprehensive DD on this type of search so don't want to post suburbs but I'd start as close to the CBD as budget allows and move outwards till you hit your budget. Then look for value suburbs with add value potential around those areas. That's how I'd go about it but everyone has their own way of doing DD.


    I posted this awhile ago, cut and pasted here. Maybe some of it may help you.
    ______________________________________________________
    Suburb Due Diligence
    1.
    Determine how far I want to draw a radius around my map from the CBD. Is it 5,10,15, 20km etc. Usually what will determine how far I go from the CBD is the particular state i'm looking at, the strategy i'm employing and any specific opportunities in areas that may be worthwhile exploring.

    2.
    Choose a few suburbs that meet my buying criteria. I look for value suburbs, eg suburbs that are cheaper than their neighbours but share most of the same fundamentals to make them grow which is only a matter of time, the 'ripple effect'. Use websites like REA, Domain and even property magazines might alert you to a suburb in your chosen rough area that you can look at and do further DD comparing prices of dwellings to try and find that 'value surbur' or two. Of course make sure the suburbs have the usual good growth drivers like transport, infrastructure, amenities, cafes, hospitals, trendy hubs etc. Once I've narrowed it down to say 2 suburbs I then look at historical CG, SOM, Discounting Rate, Vacancy Rates, Supply/Demand etc. Property magazines and on line sites have all this. I make sure I use at least 2-3 sources to corroborate the data for further reliability.

    Demographic Due Diligence:

    1
    .Research what the demographic is, and what they want, in your chosen area. Is it detached housing that is most prevalent? Villas? How many bedrooms is most common? Most wanted or common size of dwelling and land (so you don't buy a 400sqm home in an area that really values 500+sqm for example), How close to transport? Families or singles? Students? etc Any specific nationality in the area that may influence your purchase?

    Dwelling Due Diligence
    1.
    When I know exactly what I am looking for after I have my list, I troll all real estate websites and look for stock that fits my description. I also call probably 10 or more REAs in the area to tell them what i'm looking for, i'm preapproved and ready to buy right now and ask that they alert me to anything that they think i might be interested in. Having 15 ppl looking for me is better than just 1 person. I also first make sure any dwelling I look at is not next to any major power poles, cemeteries, very busy main streets, noisy kindergartens, not in flood areas, bush fire areas, high crime rate areas etc.

    2. When I have 'acceptable stock' in my sight, I will then use RP Data to do what I call 'Vendor Due Diligence'. See when it was bought, who bought it, for how much, etc etc. I want to know as much of the story as i can to try and put a picture together very fast to basically try and determine just how motivated the vendor might be. Really this only should take 20 mins. I then call the agent and discuss with him the property I am interested in to try and learn from him as much as I can. (i'll leave it at that for the agent because this is getting too long already).

    . Basically from there its a negotiation process. I try to find many properties that meet my criteria and put offers on all of them trying has hard as possible to buy BMV and create equity on the way in and also try to buy on favourable terms eg delayed settlement, building and pest clause (a negotiation tool in its self), Subject to finance, etc. Having said that it depends on the deal. If its in my interest to go 66w then I will
     
    Last edited: 21st Jul, 2019
  10. AJ061

    AJ061 Well-Known Member

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    Great post! Thank you
     
  11. Skyegirl

    Skyegirl Well-Known Member

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    Well predicted.
     
  12. Skyegirl

    Skyegirl Well-Known Member

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    Hi AJ,
    Sorry I haven't been here for a while. The part of Carindale your mentioned is the more affordable side of it. It has good fundamentals for investors but for O/Os I think it's better to target the southern part to Carindale (South of Old Cleveland Rd).
     
  13. kierank

    kierank Well-Known Member

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    It was great to read this thread.

    So many wrong predictions it made the reading worthwhile :D.
     
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  14. See Change

    See Change Well-Known Member

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    I got Labour wining wrong , but I'm not complaining :cool:

    Cliff
     
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  15. Harris

    Harris Well-Known Member

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    This is @albanga 's post from Nov 18 on this thread... Very impressive!

    It did.. down to the month!


    Correct



    100%


    Exactly


    Exactly - that happened!

    Well done to you & @Redom for reading the tea leaves so well!
     
  16. radioactive

    radioactive Well-Known Member

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    Btw,I just rented an appartment in CBD.
    There is fierce competition.
    The one we rented was inspected had 22 inspections.
    The other one which we really liked was advertised for 400 and rented for 430.

    I was very skeptical about appartments in CBD but it seems they are renting well in this market.The rental market has definately showed good signs of recovery.
    Whether they make good investment case is altogether a different issue.
     
  17. Sackie

    Sackie Well-Known Member

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    Been talking to some friends on the ground and units in botique buildings are making a come back, especially in Inner to middle ring. I personally wouldn't buy a unit as an investment but I'm in the process of looking to buy a block of 6 with a different strategy in mind.