and Manly /Wynnum 
Brisbane - Anectdotal Evidence of Market Changes
- Thread starter RPI
- Start date
This is the strategy I finally have decided on! Ive been thinking units for a few weeks now along with another idea and made up my mind after talking with some BA's. I'm glad I have a focus now.
Im looking for a 2 bed unit 3-5 km from the cbd in the mid to high $300's that I can renovate. Because I won't be organising the reno it will eat into my profits a bit but I don't mind as I should see a bit of equity gain anyhow along with a higher rent. I may buy first then a year later add some value by renovating or renovate straight away.
The other option I'm tossing up is to buy something that is already renovated in the low to mid $400's.
You wouldn't want to leave it too long. I've set myself a deadline to buy something no later than July. I just have this gut feeling now is the time to get in. You want to be there right from the start of the growth! According to some BA's I spoke to 6 months ago is when a lot of buyer activity started happening.
Do you think you could post the links to the properties that you are talking about,if one was to take a drive around those areas there seems to be a bucket load of rentals with for lease signs,some with the signs up over 6 weeks,..imho..
My sister had her 3x1 house At Holland Park West appraised by re agent this week. He appraised at low-mid $500,000 and said it is in high demand, would sell straight away. About 650sqm block, close to land value.
Thanks for the link as I just noticed a sale on one IP in the same street as mine in Carina! I must say it sold for more than I estimated my IP in my portfolio, so perhaps time for a review!
So based on that sale alone I could pull out additional $40K since my refinance to 80% LVR 14 months ago. So the market has moved in some areas and that's a fact (whatever people say) based on my data!
Thanks for this.
I only want properties that are cash flow or neutral from day 1, unless they are development properties.
Sash
You mentioned this area, had a quick look, you either purchased very well or I have the wrong area, in the main 2 bedders are over $300K
I did find one, only cheapie
http://www.realestate.com.au/property-unit-qld-annerley-115865303
I managed to buy 3br house on bracken ridge last year.
300k rent for 360/week.
Just near bald hills station
So far so good from what I can see on domain/realestate.com.au
Great buy!!!....very hard to get in at that price...and near the station even better!
Thoughts on this place?
http://www.realestate.com.au/property-house-qld-bracken+ridge-115504771
Under contract but seemed cheap for a 4 bedder.
Check the flood maps. And it's in the low lying housing commission section.
No flood issue. Thanks for the info regarding the housing commission area though, where are they exactly? I had a quick check on pricefinder and this street seems to be all owner-occupiers.
Have only recently started looking at Bracken Ridge so this is all quite helpful.
I'm happy to be wrong on this, but I always thought the "housing commission" areas where there are streets full of little timber houses that scream "housing commission" have often been bought by the people who were renting them, or been sold. I don't think many of them are owned by the housing commission any more.
You could be right wylie and if that's the case I don't think I would mind too much. Personally, I'm more concerned about HC renters who don't take any pride/responsibility for the properties, less likely to be the case if they actually own the houses.
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