Has anyone invested in Goodna Qld ?
- Thread starter Tex
- Start date
Hi
Just joined the forum and wondering if anyone has invested in Goodna Qld ? Any opinions / experiences would be appreciated.
Thanks
Hi Tex,
Welcome to SS, and I am sure you will find lots of information that will help you in quest for information on investment properties.
Let us know in detail as to what aspects of information you are after in relation to investment properties in Goodna.
I will start the ball rolling. I have a residential investment property in Goodna, which is about 350m to Goodna CBD.
I purchased the property about 4 years ago (4 bed x 1 bath x 2 car garage / shed) , with land of 809 sqm, and the house of about 40 - 50 years old, but a solid brick house. Walking distance to the Goodna train station (approximately 1.1 km to train).
I was initially concerned with the area and the tenants, but since I have purchased the property, I have had the same tenants for the last 4 years. They have been excellent tenants and I had no issues with them.
Apart from the usual issues like broken window pane due to hail, electric stove dying on the tenants, I have so far no issues with this particular investment property (touch wood).
There is also a steady increase of rent over the last 4 years, initially at $190/wk till the current $280/wk.
Hope that gives you some insight on my investment property in Goodna.
Regards,
linglc
Well, initially about 5 years ago, I didn't think much of it. But since then with infrastructure development in the Ipswich area, it appears to be making a change. This is our first IP since we sold our first one back in 2006, so we are looking to get back on the wagon, so this one would be to be a long term keeper which pays for itself after a couple years (rent rises). Sort of a set and forget. Get a solid one to start the portfolio
Thanks for your comments linglc
I guess one of the main concerns is the standard of tenants in the area and the reliability of those tenants to absorb rent increases. Always harder to jump into an area that has had mixed reputations (whether justified or not).
Hi Tex,
My guess is that it boils down to the property manager, and his/her screening process.
My Goodna property was my first ever investment property, and back then I was eager to have a tenant placed in that property from the word go.
However, my property manager advised me to reject 2 tenant applications after 1 week of it being advertised in the rental market, and I was really concerned that the property was vacant.
On the second week, the current tenants applied and my PM was satisfied with the applicants, and since, they have been with me for 4 years and have been keeping the property in good condition and not defaulting with payments.
To cut the long story short, the role a PM plays will be very important, as he/she will have to advise you on the market rate for rentals, when your rental should end (i.e., around Jan / Feb, or June / July, depending on areas, as that is the "high season" for tenants looking for a place), and keep an eye on the payment of rentals, etc.
Cheers,
linglc