Brisbane North
- Thread starter zimby
- Start date
Zimby, do you mind sharing the address of the IP in Bracken ridge?True, but I hate paying market Rate for a property.
If there is competition then generally this happens.
Ended up in Bracken Ridge.
Similar property next to one we just bought sold for 35k more, very very similar, we even have more land
All the properties I looked at in Zillmere were on Main roads with tiny land component.
Have had a property in Bracken Ridge since 2004, when buying on top in the market cycle. Had no problems with it or tenants to date, but not much capital growth yet it delivers a good yield.
It doesn't matter whether it is Zillmere, Aspley, Bald Hills, Bracken Ridge, it is wether you can find a property deal below the market value for the suburb that meets your investing strategy criteria, right?
Good luck and search for finding the deals as they come up every week.
It doesn't matter whether it is Zillmere, Aspley, Bald Hills, Bracken Ridge, it is wether you can find a property deal below the market value for the suburb that meets your investing strategy criteria, right?
Good luck and search for finding the deals as they come up every week.
I had a drive around the area, those are located on hills and surrounded by good neighbourhood but definitely not worth paying that much.
I couldn't work out the price difference earlier so posted here to check. Above explains to some extent but not completely.
I'm curious to know what the appeal is with Bracken Ridge? For the same money you can buy in to Keperra/Ferny Grove and be 8kms closer to the CBD, be on the train line, and imo be in a much nicer suburb
I will be driving through those to have a look. Couldn't find many interesting properties in there so far. Search is on. Norther area appear to have more development going on, decent houses, areas south of bracken ridge seems to be doing well so have been looking here and comparing with Aspley, Carseldine etc if it is worth buying something around 550k there or around 400k in bracken ridge.
Looks good but does not have much land component. I am trying to avoid high set, post war type due to maintenance issues ( from my limited knowledge, have heard about lots of issues in those). I am trying to find low set not more than 15-20 yrs old property. I guess inspecting 1-2 may give me better idea compared to internet.
Will post the update how i am progressing. Thanks for your feedback, i appreciate it and it has definitely got me thinking.
Will post the update how i am progressing. Thanks for your feedback, i appreciate it and it has definitely got me thinking.
You can find more listing under $400k in BR, but none in Mitchelton, Keperra, Ferny Grove....
Comparing apples to apples, that property in above listing would be low 300k in BR, so more than 100k the difference for a 10km difference.
It all comes down to people's comfortable entry point.... 20km property radius in Sydney are all over a 1M, but I am not comparing apples here.
Did you look? There are quite a few in Keperra under $400k
yes, it didn't pass the Spencer test for a good compare.
10 results popped up for 400K under + house + keperra.
7 of these are either over 400K or are likely go over 400k
Majority of these have defects, which are either close to main road or train tracks, too slope either up or down.
At 400k, you can easily get a property at BR without any of the defects.
I am really trying to demonstrate a difference of 10km in this situation is a 50-100K difference for a comparable property..
10 results popped up for 400K under + house + keperra.
7 of these are either over 400K or are likely go over 400k
Majority of these have defects, which are either close to main road or train tracks, too slope either up or down.
At 400k, you can easily get a property at BR without any of the defects.
I am really trying to demonstrate a difference of 10km in this situation is a 50-100K difference for a comparable property..
I just secured this in Zillmere this week for 400k.
I wholeheartedly agree that the market has certainly heated up since I started looking a few months back, originally looking around stafford heights but everything half decent was up in the high 4's and now mid 5's, on average 50k since I visited the area 6 months ago.
I'm happy with my little buy, 2 mins from the station and with good proximity to chermside and general amenities. I understand not wanting to buy at market price however I think there is something to be said for just moving, otherwise the market will and you won't be in at all.
http://www.realestate.com.au/property-house-qld-zillmere-117868799
I wholeheartedly agree that the market has certainly heated up since I started looking a few months back, originally looking around stafford heights but everything half decent was up in the high 4's and now mid 5's, on average 50k since I visited the area 6 months ago.
I'm happy with my little buy, 2 mins from the station and with good proximity to chermside and general amenities. I understand not wanting to buy at market price however I think there is something to be said for just moving, otherwise the market will and you won't be in at all.
http://www.realestate.com.au/property-house-qld-zillmere-117868799
Nice buy. good location and house looks neat.
Thanks RetireRich, just glad to have got in when i did. Ideal time would have been 6 months ago but I am confident there is still a long way to go for Brisbane north, in particular those well located near shopping and direct transport.
Crossing fingers for CG
Thanks Tyla, I kept on getting beaten on several other properties as I am interstate based and they are literally going at first inspection and if not before, luckily my PM got to go through this the day it was listed and I offered over the asking price to secure it - everything else was going for 10/20% over asking so i wanted to get in before the inspection.
Rental appraisal came back at 400-420pw from the RE although at the moment its probably more around 390pw, negatively geared but i was expecting that.
Are you looking around that area? I can recommend a great PM who has happily seen over 20 properties for me up there free of charge.
Rental appraisal came back at 400-420pw from the RE although at the moment its probably more around 390pw, negatively geared but i was expecting that.
Are you looking around that area? I can recommend a great PM who has happily seen over 20 properties for me up there free of charge.
luckily my PM got to go through this the day it was listed and I offered over the asking price to secure it.
Are you looking around that area? I can recommend a great PM who has happily seen over 20 properties for me up there free of charge.
Great buy!!! I just bought in the area and used a buyers agent (I'm based in Sydney).
Are you using a property manager to do the local inspections for you?
I'd be keen to explore ways to minimise the costs associated to going through a buyers agent.
Yeah i looked at a BA but in the end couldn't part with 10k, I did a bit of recon back in December and spent 3 days in brisbane driving around - literally 8 hours in a car getting to know all the areas I had investigated; started with a list of 20 and narrowed down. I think you need to see the areas yourself if you are not going to use a BA it certainly helped me.
Yes I use a PM from Pure Rentals (PM me for his contacts - he is fantastic!). The idea is that he will try and conjunct on the property he inspects for you with the selling agent and thus that pays for his time, we couldn't do that with mine as it had only just gone on, so instead I am just going to give him some cash as a good will gesture.
He inspected 20 odd properties and phoned me whilst onsite, his ethos was always with my best interests in mind, i.e. if it was his money would he buy it. He could have easily sold me a lemon early on and I wouldn't have been any the wiser.
In terms of finding a PM to do this I just gave a few a call explained my situation being interstate, offered some extra cash and to put the property through them once i'd found it if they did some inspections and that was it - saved myself 10k. Then i just kept alerts on RE and the moment something came on sent him the link to go check it out. Worked out pretty well. HTH
Yes I use a PM from Pure Rentals (PM me for his contacts - he is fantastic!). The idea is that he will try and conjunct on the property he inspects for you with the selling agent and thus that pays for his time, we couldn't do that with mine as it had only just gone on, so instead I am just going to give him some cash as a good will gesture.
He inspected 20 odd properties and phoned me whilst onsite, his ethos was always with my best interests in mind, i.e. if it was his money would he buy it. He could have easily sold me a lemon early on and I wouldn't have been any the wiser.
In terms of finding a PM to do this I just gave a few a call explained my situation being interstate, offered some extra cash and to put the property through them once i'd found it if they did some inspections and that was it - saved myself 10k. Then i just kept alerts on RE and the moment something came on sent him the link to go check it out. Worked out pretty well. HTH
I live in Sydney and recently purchased my first interstate IP in Manly West. What I found most helpful was having the (admittedly very willing to help out) real estate agent go to the property with an iPad and Skype so that I was able to have a good look around the place and ask/answer a lot of questions on the property's condition before committing to paying $$ for airfares to fly up to Brisbane to do an inspection in person. Being able to directly ask the agent to show me a close-up of whatever part of the property I wanted to see was fantastic. The property was vacant at the time which no doubt made this easier but I highly recommended trying this out.
I will add that my wife and I did visit the general area a month prior by car to get a feel for the area and identify which areas we wanted to buy in and obviously you can't sus out a whole suburb or region with an iPad but you can certainly see a whole lot more than you can in a few photos on an online advert once you've picked the suburb you want to invest in and it costs you nothing.
Cheers,
Dave