Any advice/tips on how to find a good yield IP in BNE?

[Gatoblanco]

I am looking for an IP in Brisbane. I am researching so that I can get one with a very good yield.
Yield is very important to me so that I start earning income (i.e. becomes pos. geared) quicker
Any advice/tips on how to find a good yield IP?

Thanks
Jesse

 

[Indifference]

I guess it depends on what one terms 'good yield' as this can vary significantly from person to person. Let's assume >6.5% is a 'good yield'. So how do we find this...... & find it in Brisbane???

Well, I believe one of the answers lies in looking for a property that has multiple revenue streams, like a house with a flat for example. Do they exist in the Brisbane area??? You bet! This is a very timely topic as I am in Brisbane right now looking at opportunities which fit this very bill.... and yes I have found them. I think I have given away my 'golden nugget' a couple of sentences back. Well, it is 'golden' for me as 6.75% gross yield meets my requirements.

Cheers

 

[sue78]

buy a 2br townhouse near transport, uni and furnish it. There's a massive demand for furnish properties.

My friend pays $450p/w for a 2br furnished t/h in Runcorn. It's very scarce. In complexes of over 50 units, there might be only a couple of furnished places.

3br unfurnished is about $350 and a up to $100k more expensive

 

[Gatoblanco]

Well, I believe one of the answers lies in looking for a property that has multiple revenue streams, like a house with a flat for example. Do they exist in the Brisbane area??? You bet! This is a very timely topic as I am in Brisbane right now looking at opportunities which fit this very bill.... and yes I have found them. I think I have given away my 'golden nugget' a couple of sentences back.
Cheers

Perhaps once you have purchased you could tell me how to find houses with flats on RE.com.au

 

[Propertunity]

Perhaps once you have purchased you could tell me how to find houses with flats on RE.com.au

You cannot. You may find them on domain.com.au as it allows for a keyword search and re.com does not. But you'll need to do better than "flat" as you'll get houses with 'flat' land for example.

 

[Indifference]

Perhaps once you have purchased you could tell me how to find houses with flats on RE.com.au

Well, as Propertunity has said, doing so on RE.com is not really viable. I think that this is where a network of REAs in your predetermined areas of interest become invaluable.

Drive, walk, talk..... not everything can be found in 1's and 0's.......

 

[Rixter]

Any advice/tips on how to find a good yield IP?

Bulk email/fax RE Agents with your property requirements and contact details.

Get the agents presenting them to you. Then you just have to sort the chaff from the hay.

It's a win/win because its less work for the REA's as it eliminates them having to advertise new listings coming onto their files BUT more importantly for you, you get access to properties before they're officially marketed to the masses.

Its a good tool for finding what ever ones purchasing criteria may be.

Hope this helps.

 

[Propertunity]

Yep, Rixter & Indifference are right. If I look back over the houses with flats that we have purchased for clients (and ourselves for that matter), the vast majority never hit re.com or domain.

We have been doing it for so many years now that we frequently get calls from selling agents before they get marketed. We also get the first call if a sale on one of these falls over for some reason. We promise them a 4 hour response time to inspect the property and an answer Yes or No either 'on the spot' or first thing next morning after an overnight discussion.

It works for us (and the agent too).................and we are not afriad to say No either. We probably say No, 2 times out of 3 for one reason or another. After a while the agents get a feel for what you do and don't want and then don't call you with unsuitable properties. It can take a bit of training until you get them just right.

So, you've been given good advice - it is all about building the relationships with the people that are invited to list properties every day - the selling agents.

 

[Gatoblanco]

Sounds like a good strategy letting the agents know what I am looking for. Looks to me like the best yields I can find in my preliminary searching are Woodridge/Logan.
I saw some 3 bed townhouses quite close to being positively geared.
Yes I know that is a high crime area and I will need to buy a car and have a look around (first move - get wheels).
Any other suggested suburbs for good yields?

Jesse

 

[PI141]

http://www.realestate.com.au/cgi-bi...r=&cc=&c=42559245&s=qld&snf=rbs&tm=1262320586
If I had the money right now I would get this one!

 

[willair]

http://www.realestate.com.au/cgi-bi...r=&cc=&c=42559245&s=qld&snf=rbs&tm=1262320586
If I had the money right now I would get this one!

Very small block that one ,not a lot you can do ,can i as why this property stands out to you-or the price and rental income?..willair..

 

[Pa1nter]

http://www.realestate.com.au/cgi-bi...r=&cc=&c=42559245&s=qld&snf=rbs&tm=1262320586
If I had the money right now I would get this one!

Looks good to me
Obviously with a bit of TLC and haggling

 

[PI141]

It looks good to me because its very close to one of the largest hospitals in the southern hemisphere and its got 3 flats that would probably net 600 a wk - possibly a CF+ property - land size is not an issue really if you are renting out 3 flats - less would be better - less to keep up! I would do nothing but rent it out!

 

[Jamie M]

Don't forget to take into account the BC fees with units in Brisbane. I was looking at Logan for a while and it's not uncommon for the BC fees to be around the $2.5k mark p.a. Which is a fair bit when buying a sub $200k unit (which I was looking for). The rates in Logan are high as well - the same 2 bedroom unit would cost about $2k in rates p.a...

Cheers

Jamie

 

[willair]

It looks good to me becaue its very close to one of the largest hospitals in the southern hemisphere and its got 3 flats that would probably net 600 a wk - possibly a CF+ property - land size is not an issue really if you are renting out 3 flats - less would be better - less to keep up! I would do nothing but rent it out!

As long as it is not in the low flood area,and up high somewhere then
depending on the the final price it may well be cf-p,there is a lot like this on the market both north-inner southside in Brisbane, do your homework one by one then some you will find are on the market for 200 k LESS the the buyers paided 2 years ago..willair..http://www.realestate.com.au/cgi-bi...er=&cc=&c=9959479&s=qld&snf=rbs&tm=1262388602

 

[fokas]

http://www.realestate.com.au/cgi-bi...r=&cc=&c=42559245&s=qld&snf=rbs&tm=1262320586
If I had the money right now I would get this one!

As long as it is not in the low flood area,and up high somewhere then
depending on the the final price it may well be cf-p,there is a lot like this on the market both north-inner southside in Brisbane, do your homework one by one then some you will find are on the market for 200 k the the buyers paided 2 years ago..willair..http://www.realestate.com.au/cgi-bi...er=&cc=&c=9959479&s=qld&snf=rbs&tm=1262388602

I'm always curious (read suspicious) as to why agents can't be bothered to post photos of the inside...?

 

[mattyg_10]

I'm always curious (read suspicious) as to why agents can't be bothered to post photos of the inside...?

Not much of a selling point if it looks like the dog house. But I agree, it really annoys me.

 

[Pa1nter]

I'm always curious (read suspicious) as to why agents can't be bothered to post photos of the inside...?

Maybe tenanted?

 

[willair]

I'm always curious (read suspicious) as to why agents can't be bothered to post photos of the inside...?

It may well be under the QLD Tenancy Law Amendments-Landlords or agents must now gain consent to photograph their properties with the tenants belongings,the same as rents can only be increased after six months from the last increase,my guess is most agents don't know Qld tenancy laws, you can't even conduct an onsite auction or open house without the tenants consent,as they say the tenant holds the keys in several ways.
willair..

 

[willair]

Not much of a selling point if it looks like the dog house. But I agree, it really annoys me.

There is only one way to look at properties like that and ask yourself one simple question,if the land is worth "x" now what will it be worth in 5 years time,what sits on the property has very little importance to me as long as you can rent them,and in that area it would never be a problem if you managed them yourself,afterall this will be Brisbanes year down south has had their mini bull runs..willair..