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QLD Which suburb should I invest $350k?

Discussion in 'Where to Buy' started by sham.v007, 24th Sep, 2016.

  1. sham.v007

    sham.v007 Member

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    Hi Investors, Please let me know your opinion on which suburb is good for buying IP for $350k? It will be my first IP so would like to play safe. My goal is to get rental income where the appreciation prospect is good too. I've heard Logan and Redcliffe are the way to go. But please let me know your suggestions. Thanks everyone.
     
  2. Positive_Rob

    Positive_Rob Member

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    Thought of going outside QLD? Hobart has returned an 9.1% gain in the last year. First time since the gfc. This is likely to trickle to the outskirts where you can buy for as little as $150,000 allows 2 properties and half the risk as a single property being vacant. Again it would be wise to seek professional advise on this.

    Also remember when investing each state requires land tax on IPs so it's wise to purchase in other states.
     
    Last edited: 25th Sep, 2016
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  3. sham.v007

    sham.v007 Member

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    Thanks Rob, appreciate your opinion. I'll surely have a look at Hobart.
    What do you mean by purchasing in other states? Do you mean a diferent state to the one I live in? or other states in general? I'm in NSW.
     
  4. Positive_Rob

    Positive_Rob Member

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    Other states in general, sorry I assumed you were purchasing in your own state.

    My plan is to purchase each property in another state so I'll have investments in mist states. Limiting the land taxs I need to pay for the IP in each state.

    Cheers
     
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  5. sham.v007

    sham.v007 Member

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    Cheers, Thanks Rob. Appreciate it.
     
  6. WendyB

    WendyB New Member

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    Hi Rob
    Could you reiterate a little more or send me a link where I can find out more about this land tax?

    Thanks :)
     
  7. sham.v007

    sham.v007 Member

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    Hi Wendy, I've been googling land tax and found this website for NSW. I'm sure there will be another website if you are in a different state. Hope this helps.

    Land tax | Office of State Revenue
     
  8. Whitecat

    Whitecat Well-Known Member

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    Caboolture/morayfield
     
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  9. Newfast

    Newfast Well-Known Member

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    Good information. Thanks guys.

    I am also looking within that budget.
     
  10. ej89

    ej89 Well-Known Member

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    Why?
     
  11. sham.v007

    sham.v007 Member

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    Caboolture and Morayfield fit well within my price range. Can you please tell why you think they are good rental prospects?
     
  12. RetireRich101

    RetireRich101 Well-Known Member

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    I thought in terms of crime and stigma, Calboolture is up there, no?
     
  13. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Go closer to Brisbane. Generally speaking Morayfield and Caboolture are too far out. Remember location, location, location. There's too much land closer into Brisbane and this factor will kill your CG. You'll have an older house, and there will be other houses closer to Brisbane that are newer and more desirable to tenants.
    As per OP for a 350k budget I think Logan and Redcliffe would be better options for CG, Logan being on the way to Gold Coast, Redcliffe being near the Bay and they both will still give reasonable cashflow. Ps. I might slightly favour Redcliffe over Logan as Redcliffe has the new train line, there's slightly less stigma and it might gentrify a tad quicker with the bay factor.
     
    Last edited: 26th Sep, 2016
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  14. sham.v007

    sham.v007 Member

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    Thanks Gockie. That's great insight. After reading all posts about Logan and Redcliffe I'm more inclined towards them.
     
  15. Whitecat

    Whitecat Well-Known Member

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    Caboolture has train. A hub of services. It's its own town and is in your price range.
    Safer than Logan by a lot.
    Redcliffe is good too but in that range places can be asbestos shacks. If you can find a good house there for 350k snap it up.
    Logan good too but too much of an investors market.
     
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  16. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Please explain?
     
  17. RetireRich101

    RetireRich101 Well-Known Member

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    are we going to have this discussion again?
     
  18. Whitecat

    Whitecat Well-Known Member

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    We can if you like. Someone was concerned about crime in Caboolture. Then looking at Logan. If crime is a concern then i wouldn't recommend Logan over Caboolture
     
  19. sham.v007

    sham.v007 Member

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    Thanks Whitecat. I'm looking to invest - sorry if I wasnt clear.
     
  20. Whitecat

    Whitecat Well-Known Member

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    I think logan doesn't have enough OOs is what I'm saying. More volatile. Better to buy where OOs for cgs. But still some of the best yields in a capital in Logan. There's loads of threads on here and SS on logan strategies.
     
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