IP, Redbank Plains QLD or Smithfield SA

I work out around ipswich, redbank at times.. Did my research late last year and thought that kingston provided the best value for money.. 280k you can buy a property 25k from the city and rent it out for 300 plus..

I bought a 3 bedder, 272k average condition, rent it out for 295 but that is probably too cheap, will be increasing in 6 months.. its not unheard of for people to rent them out for 320 + with some renos to the garage.

No new infrastructure going into the area that I am aware of and borders woodridge (prob the lowest socio economic area in logan city) but to me still pretty cheap and is still affordable whilst most of brisbane isnt.
 
guys,

I just have another question. In relation to CG I'm guessing that would come down to the suburb/area? Not so much the land size or offerings of the actual property?

For E.g

Property A is 3/2/2 on a 370sqm land but price is around $280k mark

Property B is 3/1/1 on a 305 sqm block of land and price is around $255k mark

Both roughly will pull in similar amount of rental return. So for an IP which would be better? Both are in the same estate, about a street or two away from each other. Would I be better off buying the cheaper one??

thanks again!
 
JTBT said:
Thanks for the info so far guys. Was wondering if anyone can give me abit of insight on Smithfield as an area? Is it a bad area? known for crime? what is usually the first thing people think of when you say 'I reside in Smithfield'
Click to expand...

I have an IP in Smithfield Plains and know the area very, very well. The first thing people used to think when you said you lived there would have been "This guy must be on the dole!" :p

The general area has many pockets of housing trust semi-detached homes. Hence the clientele is not always the best.

However things have begun changing a bit in recent years. The area is seeing a lot of new homes being built there, including major land developments next door to the suburb at Munno Para West and Blakes Crossing. The Playford council has major 10-15 year plans to tidy up (ie demolish) trust homes in the area, which are detailed at the Playford Alive website.

The Northern Expressway project has also just been completed which provides another transport option to the city/coast. The Army are shipping in truckloads of people into the nearby Edinburgh RAAF base, and surrounding the base major industrial estates are growing meaning a lot of steady industry in the area.

I have 2 IP's in the general area and have been impressed with their growth over the past 3 years - not to mention the rental income growth. But having said that I bought older stand alone houses on big blocks of land, and have had to deal with a couple of tenant issues. But nothing the local PM's aren't used to.

Send me a PM if you want any more info on the area, or indeed a particular property, more than happy to help.

Cheers
Steb
 
steveadl said:
You can also pay substantially less just around the corner in a smaller development. Such as these two:

http://www.realestate.com.au/property-house-sa-smithfield+plains-106882163

http://www.realestate.com.au/property-house-sa-smithfield+plains-106771397

http://www.realestate.com.au/property-house-sa-smithfield+plains-106558744

(I think No.41 is asking a bit much, though I hope he gets it!)

Varies for each house, but estate is about 5yo so most houses about 4yo or less. Still good depreciation and a lower entry price into an already established property that rents out immediately. You'll pay a higher premium for PW because it's a bigger estate. Having said that, the estate above will also become bigger in the coming years once Smithfield Highschool next door is closed down.

PS Factor into your thinking, in the new estates in the northern suburbs, properties with double garage/carports are much more sought after than single car properties. I personally wouldn't buy a single.
Click to expand...

Steve!
Isn't that your IP (No 41.) ??!!

I haven't been on SS for ages but I recognise it from when you were helping me with ideas in early 2008; nearly bought one next door I think (eventually I bought in Parafield Gardens). Too funny!
FF
 
Futurefund said:
Steve!
Isn't that your IP (No 41.) ??!!

I haven't been on SS for ages but I recognise it from when you were helping me with ideas in early 2008; nearly bought one next door I think (eventually I bought in Parafield Gardens). Too funny!
FF
Click to expand...

Nah, not mine but it is the same street. Haven't seen mine for over a year, but I doubt it looks as nice out front as that one. ;)
 
Delilah said:
I cant believe rates for Ipswich are that high, I am truly :eek:
Click to expand...

Delilah,
I couldn't believe it either, which is why I happened to find this thread.

Here's why I was looking: I've had an IP in Springfield for just over a year - this is within Ipswich City Council. It's a 3 bed, 1 bath, 1 garage on 300 sqm ie it's small !

And yet the rates are about the same as what I pay for my PPOR which is in Carina (6km south-east of Brisbane CBD) and has a land value almost 3 times as much! I've just been paying the Springfield rates for the past year but I started to wonder if there was some mistake when I received the latest notice and thought about it again...

Anyway, apparently not - Ipswich Council rates are just that - high !!

So this may be of value for the OP's decision about Redbank Plains (QLD) vs Smithfield (SA).

P.S. Hey Steve, I'm thinking now that 41 Grace must have been the one I nearly bought - it looks very familiar!
 
Yeah No 41 was for sale back in 2008 as well Greg - same owners. Asking too much then, and I think still asking a bit much now to be honest.
 
Without looking at it too much ie. photos etc. - that general type of house of 3/1/2 I would say around $260k, bit less bit more. I have mine on my books for $255k currently, but this house looks like it may have a bit more decor etc.
 
Hi John here's some further info that may assist with your decision making process:-

Re: the Ipswich Rail Infrastructure:
http://tmr.qld.gov.au/Projects/Name/S/SEQIP-Rail-Infrastructure.aspx

Re: Ipswich planned Billion dollar make over
http://www.qt.com.au/story/2009/10/22/Billion-dollar-plan-Ipswich-CBD/

Re: Land supply in S/E QLD as economy recovers
http://www.smartcompany.com.au/econ...s-economy-recovers-bis-shrapnel-predicts.html

Ipswich has a long history of mining and still has one open cut mine open to this day.
There are areas that have and will be affected by undermining issues but they really are in only one real specific small spot on a small street to the left between Redbank Plaza and the way to Collingwood Park the best thing for you to do is if your unsure (if buying new land) is to ask for a copy of the estates Geo Tech report; this will give a definitive answer about your specific allotment and the surrounding land.

I'm hoping I've been of assistance,

Kind Regards

Ben.
 
The west moreton valley from Redbank to Gatton is an area that is getting very expensive. I am not even sure what is driving the growth. Perhaps maybe the two lane highway and ease of access into ipswich for work while having a country lifestyle. But new four bed brick homes sell for 270k in Laidley and rent out for $270 upwards. Not sure on tenancy quality.
 
Ben P said:
Hi John here's some further info that may assist with your decision making process:-

Re: the Ipswich Rail Infrastructure:
http://tmr.qld.gov.au/Projects/Name/S/SEQIP-Rail-Infrastructure.aspx

Re: Ipswich planned Billion dollar make over
http://www.qt.com.au/story/2009/10/22/Billion-dollar-plan-Ipswich-CBD/

Re: Land supply in S/E QLD as economy recovers
http://www.smartcompany.com.au/econ...s-economy-recovers-bis-shrapnel-predicts.html

Ipswich has a long history of mining and still has one open cut mine open to this day.
There are areas that have and will be affected by undermining issues but they really are in only one real specific small spot on a small street to the left between Redbank Plaza and the way to Collingwood Park the best thing for you to do is if your unsure (if buying new land) is to ask for a copy of the estates Geo Tech report; this will give a definitive answer about your specific allotment and the surrounding land.

I'm hoping I've been of assistance,

Kind Regards

Ben.
Click to expand...

Thanks so much Ben. Very helpful info.
 
Invest buying new homes if you are relocating to the Smithfield area

Hey..buddy that sounds very good that you want to get into the real estate by investing on it so in my point of view it will be better for you to invest in buying new homes through the reputed builder nearby your area or if you want to relocate Smith field then there is more opotion for your to buy homes through the existing builder that provides new homes smithfield va in an affodable price like cypresscreekhomes..

Thanks,
 
JTBT said:
Thanks so much Ben. Very helpful info.
Click to expand...


HI J.. redbank plain property under NRAS government $100k incentive free .tax ..

If you high tax income over 30% ...that should be a positive cash property good for rental ....

capital growth mind take a time ...
 
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