Investment property Brisbane CBD

[crappymate]

Guys ,
I am a new here,I live in sydney and have house i am living in,been looking for IP since 6 months,its overpriced in Sydney and lot of competition among investor to buy here in sydney,so looking in Brisbane CBD area too.
What are your thoughts?2 br apartment in brisbane CBD like this one:
They asking 450K,rent is 550 per week,strata: 1320 per qtr.

http://www.domain.com.au/ore/Public...+Enquiries+Open+(postclick)&prevServer=Emails


There are plenty of apartments in Fortitude Valley too close to CBD,
My budget is upto 500K,mainly looking for capital growth and reduce my taxes.
cheers

 

[wylie]

Guys ,
I am a new here,I live in sydney and have house i am living in,been looking for IP since 6 months,its overpriced in Sydney and lot of competition among investor to buy here in sydney,so looking in Brisbane CBD area too.
What are your thoughts?2 br apartment in brisbane CBD like this one:
They asking 450K,rent is 550 per week,strata: 1320 per qtr.

http://www.domain.com.au/ore/Public...+Enquiries+Open+(postclick)&prevServer=Emails


There are plenty of apartments in Fortitude Valley too close to CBD,
My budget is upto 500K,mainly looking for capital growth and reduce my taxes.
cheers

I don't like paying strata, and at $1,320 per quarter that comes to $5,280 per annum. I'm guessing BCC rates are extra but unsure what they would be.

If you spend $450K further out for a house, you will not get $550 per week rent, but you are paying $100 per week just on strata, so if you get $450 per week rent further out, that is what I would do.

Lifts, pools, spas, saunas = money to strata.

 

[crappymate]

Thanks Wylie for the advice.
Yes I dont like strata either.can you advise me few suburbs close to Brisbane CBD,which i should look into where I can buy house with my budget which has got growth potential in future and low vacancy.
cheers

 

[wylie]

I would start looking at Carina, Mt Gravatt, Hemmant. I'm sure others will jump in with other suggestions. I tend to look local to where I live. I cannot buy anything on land for that money local to me, and I and haven't bought for a while, but I'm keen to get into something and those are the places I will be looking once we have a few things sorted out.

 

[wylie]

Here is one I prepared earlier...

This thread discusses areas in the price bracket you are looking at.

http://somersoft.com/forums/showthread.php?t=93680