QLD Which suburb/what do you look for?

Discussion in 'Where to Buy' started by Investearly, 17th Mar, 2019.

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  1. Investearly

    Investearly Active Member

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    Hey everyone!

    Suffering from some paralysis by analysis and digesting a heap of info and would love some clarity.

    I’m looking at an investment property below the 500-600 mark (could always go lower) and not sure what to do. I’ve heard Everton hills and Stafford are all decent but then counter-arguments for the two.

    I’ve also heard the Redcliffe peninsula is a great place to look also due to infrastructure etc.

    I’d love to know what to look for when searching for a property in these areas and everyone’s thoughts.

    It’s at the stage where I think a buyers agent is going to be the best bet but they have all seemed to quote 10k +

    cheers
     
  2. NewGuy88

    NewGuy88 Well-Known Member

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  3. BB5

    BB5 Well-Known Member

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    Well the Harcourts agent obviously doesn't get the train often. When was there last an express running on the ferny Grove line?

    Saying that ferny Grove and ferny hills best for that kind of money. Keperra much lower socioeconomic currently.
     
  4. Sackie

    Sackie Well-Known Member

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    You need to learn how to do DD (something many 'investors' are poor at). Stop relying on what ppl say and what you hear about suburbs to buy and instead do your own research. This is a cut and paste from an older thread (done it a few times now as no point in retyping same thing over and over.). Basically you'll want to look for value suburbs, potential ripple effect suburbs and marginalised suburbs where you can find something to also add value to in the future. Even if its just a simple reno. If you're willing to put the effort in and get out of your comfort zone and back your decison with action after all your DD then you won't need a buyers agent. Half the time ppl engage BAs is because they lack the confidence and courage to back their own decisions.

    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.
     
    Last edited: 18th Mar, 2019
  5. The Y-man

    The Y-man Moderator Staff Member

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    1. Price - can I afford it
    2. Would I want to live there? (not just the suburb but the actual house etc)

    The Y-man
     
  6. kcbworth

    kcbworth Well-Known Member

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  7. BB5

    BB5 Well-Known Member

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    Ha thanks for that. Had a look at 42 Grace St a couple of years back. Was one of the busiest opens I'd seen in mitchelton. Interested to see how much it goes for a few years on
     
  8. MWI

    MWI Well-Known Member

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  9. NewGuy88

    NewGuy88 Well-Known Member

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    Unfortunately only have budget for IP unit in Brisbane, would definitely prefer house for better long term CG & too avoid body corporate fees ... I will do all my research & DD on a unit within 5-8km radius of CBD in a small boutique block with no pool or lift etc ...
     
  10. MWI

    MWI Well-Known Member

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    Still I would stay away from units in QLD, you will lack in CG for long term and tougher to rent out as a lot of competition, instead maybe grow your savings for some land like with very small complex town house. Friend bough Carina town house 2 years ago for $395K, older with reno potential with idea to buy additional two in the complex of 3! Don't rush work on an investment strategy first, sometimes better to wait and buy few good ones rather than many....
     
  11. Sackie

    Sackie Well-Known Member

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    I'd rather buy a house in sleepy Adelaide in a good location than a unit in Brisbane if the same budget is able to get you that in SA.
     
  12. NewGuy88

    NewGuy88 Well-Known Member

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    Thanks for the advice ... I'm still in the early stages of researching for an IP
     
    Last edited: 20th Mar, 2019
  13. Investearly

    Investearly Active Member

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    Thanks for all the tips guys.

    I will continue researching as much as I can. The top suburbs atm are looking like arana hills, Mitchelton, Holland park west, Everton park and Stafford.

    Now it’s a matter of finding the right property on the right street.

    Those houses that were posted in Mitchelton were lovely, the one that hasn’t sold yet is just on a bit too small of a parcel of land (400m2) and I have decided to not look at anything under 600.

    Look forward to hearing some more opinions.

    Cheers!
     
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  14. Sackie

    Sackie Well-Known Member

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    images.jpeg
     
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  15. RaoulDuke66

    RaoulDuke66 Well-Known Member

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    Buying an investment unit or town house in Brisbane because you can afford it and then hoping it goes up during a credit crunch is a good way to get your testicles handed to you.
     
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  16. NewGuy88

    NewGuy88 Well-Known Member

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  17. Angel

    Angel Well-Known Member

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  18. NewGuy88

    NewGuy88 Well-Known Member

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    Time will tell ...
     
  19. Trailblazer

    Trailblazer Well-Known Member

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    Why? I've seen some numbers about brisbane been thrown about such as minimum 402 or 806. What's the rule of thumb for inner-mid Brisbane CG strategy?
     
  20. Investearly

    Investearly Active Member

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    It’s not so much a rule of thumb as to what you’re chasing from what I understand - I would prefer an asset with growth over yield and having a larger block of land seems to do that from what I understand.