Anyone looking at Springfield QLD?

Hi folks,

This is my first post in this forum. I recently bought an IP in Springfield QLD. I usually hear very little about the area in forums or IP websites.

There are, not just one, but TWO train stations being built in the suburb to be finished later this year. The Centenary motorway duplication is on its way to finish in 2014. Also in 2014 the NBN rollout will happen in the area and today the QLD government just announced tha a new school will be built in the area by 2015 because of its growth. Am I seeing something that nobody else is seeing or am I missing something that everybody else is seeing?
 
I haven't looked there personally, as far as I know, a lot of people are making money there. Technically speaking, springfield is the largest development I believe, Matha Sinnathamby is a very wealthy man from it.
 
Yes, but to my knowledge he is selling the new developments. I'm talking about from a buy and hold perspective. All the numbers add up to a great growth. My property is not positive cashflow but only costs me $18 a week to hold borrowing about 105% for the property + all other costs. On the top of that all the numbers that indicate growth are there.
 
I don't disagree. The man has a vision and it is going to be phenomenal in the future.

Key word being, the future. I have heard of people doing some good deals out there. Not personally, just heard. It isn't my market however and hasn't popped up on my radar as yet.

I'm quietly confident it will in 10-20 years time. In the meantime, I can see other places my money will work harder for me until then.
 
HI
I have been looking long and hard about buying my next IP in Springfield Lakes area. I asked here a few weeks back and was made VERY aware by a few people that it's not going to be a good growth area for some time due to the large amount of land still to be developed. But the area does have so much going for it...
I would not put all my eggs in the one area but am still looking for the desperate seller in the area...
Just my 2 cents worth
 
I forgot to mention the new hospital still to be built and the Orion Shopping Center expansion.

I agree there's lots of available land there, but as the suburb gets more interesting to live the demand is likely to increase and balance will be more in the favor of growth.

I guess I'm subconsciously looking for reassurance that I got myself a good deal :(. Only time will tell...
 
If you have a long term view then you will be fine. If you were confortable with the location and fundamentals when you purchased then dont stress. Only costing you $18 p/w is fine (the cashflow positive investors may disagree though).
 
Yes, but to my knowledge he is selling the new developments. I'm talking about from a buy and hold perspective. All the numbers add up to a great growth. My property is not positive cashflow but only costs me $18 a week to hold borrowing about 105% for the property + all other costs. On the top of that all the numbers that indicate growth are there.

Pre-or-post depreciation, pre-or-post tax deductions. $18/week is pretty good. I would buy 5 if I thought the growth was there in the next 5 years or so. Also rent will go up and cover that quickly enough. May want to lock down the mortgage though.

I personally have allowed up to $5k in losses as holding cost for my properties. Though I am actually very much opposite and earning a positive income which is even better :p
 
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