QLD Why I bought in Goodna - See Change

I've had a client make a lot of money out of Goodna. Look at the geography. Just don't buy in the flood parts.

 

Link

Flood map information - Planning & Development

 

Reality is anyone with a bit of nouce and a bit of research can work out where to invest .

Only bought the one in MV . As I said in the opening post , not intending to buy any more. , unless the banks change their lending policy , or short of our accountant committing fraud for a loc doc loan , we've maxed out ( First time .... )

Cliff

 

I found PD on line a much more user friendly way of checking flood risk

Use the property search facility and it enables you to click through a whole range of overlays , basically everything you need . Main ones are flood and mining .

There is a property for sale at the moment which is impacted by a mining zone , though ( I fairly certain , not the Gailes one I linked to . THe main issue with that is the buss in the back yard of the next door neighbors

Cliff

 

Glad you're finally finished. I've had people asking me where you've been buying for like 6 months!

Very interested to see how these go, and when. Had a chat with a fellow investor today about the area. Logan first, Morteon Bay second, Ipswich third?

 

We purchased two villas in Gailes and they have been a great investment ...a very overlooked suburb including Bellbird Park

 

I quite like Gailes . We also had a look at a couple of PPOR style properties there and if you were buying just one of two they were quite nice properties , but cash flow drops down when you move up market a bit , because the rents don't go up proportionally .

Another thing to watch out for are the overhead power lines , we passed up a couple because of those .

While some good properties would sit on the market for a while when we were starting , recently , the only one's i've seen on the market for a while have been flood , power line affected or unrealistic vendors.

Cliff

 

@See Change What impacts do you think Springfield Lakes will have on Goodna?

 

Haven't really paid much attention to it , but I can't see that it would be negative . Any new development is going to bring infrastructure and employment to the area and existing properties are selling ( I assume ) for less than new developments and are often closer to existing facilities.

Cliff

 

Y

Good points. We purchased on a hill and the land the villas are on is just under 1.5 acres about 500 m from road infrastructure No power lines ...plans for future development ...across the road are nice owner occupier new estate in smaller 405 subdivided blocks of land ...should push value of our investment up

 

DPM

How are you finding the Body Corp rates ? We had a look at a couple of villa's and units and they were enough to impact the return we were looking for , though some of the villa developments have looked quite nice .

Cliff

 

Welcome to the club

 

Great info @See Change thanks for sharing. Their council planning maps seem pretty good too

 

It was annoying , was planning on having another 4-5 to help clear more debt in a few year ....

Cliff

 

Thanks for sharing See Change.

What is your view on Redbank Plains and Collingwood Park?

 

@See Change (or anyone else), do you have a particular PM that you'd recommend in those areas? I'm getting some conflicting views and need to have a chat to take an average

 

We have all of our properties with Sarah at First national Westside . We bought all our goodna area properties through them . Although George is the main listing agent with them , Sarah was the person we first talked to there and we get on well . She is an investor herself which helps . Having several properties with an agency means that they listen to you , but equally , you need to listen to the advise they give you .

We had some work to do with a some of the properties and sarah organised that as efficiently as anyone's organised that in the past . As an owner you always expect that tradies to move in to do work five minutes after you get possession , but the reality is that is never going to happen unless you are on the ground your self and have an established ongoing relationship with them . Good trades are usually busy and everyone wants their work done straight away .

Cliff

 

Wow thanks cliff great info!! Again!

 

George and Sarah Jayne are excellent. I have recommended them before to forum members, especially for the ex HC stuff. Particularly Gailes / Ellen Grove.

Not sure of the property management side of the business as Boettcher Realty are my property managers. They are so exceptional I twisted Darren's arm and they now manage my Brisbane properties too.

 

Have you finished collecting in SA yet @See Change the suspense is killing me!