QLD Where would you buy in QLD?

Discussion in 'Where to Buy' started by samenglish, 28th Jan, 2019.

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  1. samenglish

    samenglish New Member

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    Hi all,

    I am super excited to become a property investor and looking to get my first place! I would like to get a house and I guess the maximum I would want to spend is $500k, but obviously the cheaper the better!!

    If you were to invest in QLD, where would you be looking at? Any tips would be appreciated!!!

    I am looking forward to being part of the group!

    Sam
     
  2. My House QLD

    My House QLD Well-Known Member Business Member

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    Check out Brisbane some of the most popular area's for investors have been Logan, Ipswich and Moreton Bay. 500k is a healthy budget for Brisbane just depends on your yield requirements. If you are not familiar with Brisbane you might want to consider engaging a Buyers Agent for around 5k+.

    Good luck!
     
  3. Sackie

    Sackie Well-Known Member Premium Member

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    Many ppl bought cheapies in logan et al and prices haven't moved much compared to some other suburbs . Don't always go cheap, especially if you can afford not to.

    And if you're 'super excited' to become an investor, spend some time to learn your craft . Otherwise the odds are greatly stacked against you imo.
     
  4. PMC Property

    PMC Property Sydney, Brisbane, Newcastle, Toowoomba Business Member

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    Be very careful of this mindset. Cheaper is not always better. In fact, price is practically irrelevant when it comes to the performance of the asset. Choose your property using a funnel approach. Start with your goal and work backwards through the factors that will achieve that goal or goals...then narrow down from there (city/region, suburb, dwelling type, street then actual property in that summarized order). The actual property is the last thing you look for in a long line of research prior to even going shopping. If you do that properly, the purchasing is the easy part.
     
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  5. 4theBoys

    4theBoys Member

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    ^^^^^^^^^^

    Very well said.
     
  6. Eric Wu

    Eric Wu Mortgage Broker Business Member

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    welcome to the forum @samenglish .

    $500k is a good budget, ( but won't get you too close to CBD for a house)

    look at areas 10-15 kms out from CBA, look for a house with good land component.

    to the South, Wynnum, Manly, and surroundings are good.

    To the North, Arana Hills, Everton Park...

    again, don't purely target cheap one, look for value
     
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  7. kierank

    kierank Well-Known Member

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    I would suggest you might want to have a look at Toowoomba. Price range $300K to $350K for 4/2/2 house on 600-800sqm, yield 5%+, lots of things happening (new range crossing, Wellcamp airport, USQ, ...), market has been flat since 2012 (will take off once Brisbane is moving), ...

    I bought a 4/1/1 house on 800+sqm about 12 months ago for $324,000, rented it for $320 pa (5.1% yield) to a lovely family (father doing PhD at USQ), over last 45+ years the property has achieved compound growth of 6.8% pa, (even though the last 6 years have been flat).

    We borrowed 80% and, at the moment, it is costing us $30 pw pw to hold. Once we complete our portfolio finance restructuring, it will generate $160 to $170 pw positive cashflow. So, we can hold forever.

    Our plans are to hold it for a while, convert it to a 4/2/2 (for around $20K), do a bit of a reno on it (new paint, new carpet, render outside, ...), wait for the market to move (ideally around 2021/2022) and make $100K to $150K clear :D.

    Not advice. Just wanted to show that I am walking the talk.
     
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  8. Sackie

    Sackie Well-Known Member Premium Member

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    Good to see you're following through with the plan moi set out for you...



    ok ok...cant take any credit :oops::p
     
    Last edited: 29th Jan, 2019
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  9. David Shih

    David Shih Mortgage Broker Business Member

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    Assuming you're looking at maximising the growth potential - I would target at the suburbs around Everton Park. Established suburbs with owner occ appeal, good school, decent transport with ongoing infrastructure improvements and close proximity to CBD. Look for established houses on a decent block of land which you can add value either immediately or later down the track. Then it just comes down to snatching up wherever the first deal pops up.

    Cheers,
    David
     
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  10. John_BridgeToBricks

    John_BridgeToBricks Buyer's Agent Business Member

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    My tip: if you want to invest in QLD, stick to Brisbane metro, and don't chase regional areas. Ask yourself where you would like to own a property in 10 or 20 years from now. If your conclusion means pushing yourself a bit further, then it is worth it.

    Some great tips in the thread above already.
     
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  11. kierank

    kierank Well-Known Member

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    When I first read your post, I was thinking:- I know we have conversed on a number of things but I didn’t think this was one of them ;).

    I was writing out your thank-you cheque, then I noticed the spoiler. Sorry to say, cheque is in a thousand pieces in the WPB :D.

    TBH, being an old B+H investor, implementing a buy/reno/sell strategy is NOT something I would normally contemplate.

    So I do have you and a number of other PC members who have inspired me although none of them would be aware of this.

    And before you ask:- no awareness means no cheque:p!!!
     
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  12. New Town

    New Town Well-Known Member

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    I've recently chased the regionals where you can buy 2 or 3 for your budget; Townsville, Mackay, Bundy and the dreaded Gladstone.

    All seem pretty cheap. The problem at the moment is that rents are low and not increasing.
     
  13. wilso8948

    wilso8948 Well-Known Member

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    Mackay certainly is.
     
  14. New Town

    New Town Well-Known Member

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    Mackay & Townsville would be a little stronger than Bundaberg, Gladstone and probably Rocky and its reflected in purchase prices
     
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  15. kierank

    kierank Well-Known Member

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    I know everyone is different but I wouldn’t buy anything in a town whose economy is dependent solely on mining nor any town north of say Gladstone, due to cyclone risk.

    I realise that this cuts out a fair portion of Qld but it is a big State
     
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  16. Scott No Mates

    Scott No Mates Well-Known Member

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    Based on comments by @willair - above the high water mark may be a good start
     
  17. Noobieboy

    Noobieboy Well-Known Member

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    I would stay away from Logan. Too much investor activity there. Otherwise, whole Brisbane is fine. Flood check is a must. I would stay away from units too.
     
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  18. Jamesaurus

    Jamesaurus Well-Known Member

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    +1 for Arana Hills or Ferny Hills if budget is ~500k
     
  19. TAJ

    TAJ Well-Known Member

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    I have an IP in Wonga Beach FNQ.
    Rent has been stagnant for 3 years now, however I have long term tenants (family of 4) who maintain the property very well and pay rent when due, so quite happy to maintain the status quo.
    I would love for them to be able to buy the property from me at some stage if possible.
    From a purely investment POV I would stick to Brisbane if had to buy now.
     
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  20. hobo

    hobo Well-Known Member

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    I’m interested to know what made you buy in Wonga Beach? Seems like a very specific area to target (under 1000 population, etc etc).
     
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