Hi chris here
The property is located in Darra which is in the outer suburbs of Brisbane (15km from CBD) Darra backs onto the ipwich and centenary highway. The property is a modern brand new lowset unit with 3 bedrooms 2 bathroom and a single lockup garage. A tile, brick construction. asking price 159k. i looked up on The Real Estate Institute of Queensland and the only info they had on there is that the median house price is 115k and the median rent for a house is $175 p/w. New housing developments are in the process of being built, since then the population has started to increase sharply but has also increase the geo boundary. The brisbane city council has recently completed a suburban centre imporvement project in the shopping area on Darra station road.
Darra is right next door to the Centenary suburbs (mount ommaney) (median house price 420k median rent 220 p/w). Noting the shortage of property in brisbane could this suburb be the next boom???? I know it is not a positve cashflow (which is what i ultamitly want) if i were to Wrap it then i could possible achieve that. Or am i better to keep it for about a year or two renting it out and see what prices are like in a year or two and then wrap/sell the property. This would be my first IP. Oh exciting news i am off to a Rick Otton seminar on the 16th. Yeah me.
all these questions not enough time
chris
The property is located in Darra which is in the outer suburbs of Brisbane (15km from CBD) Darra backs onto the ipwich and centenary highway. The property is a modern brand new lowset unit with 3 bedrooms 2 bathroom and a single lockup garage. A tile, brick construction. asking price 159k. i looked up on The Real Estate Institute of Queensland and the only info they had on there is that the median house price is 115k and the median rent for a house is $175 p/w. New housing developments are in the process of being built, since then the population has started to increase sharply but has also increase the geo boundary. The brisbane city council has recently completed a suburban centre imporvement project in the shopping area on Darra station road.
Darra is right next door to the Centenary suburbs (mount ommaney) (median house price 420k median rent 220 p/w). Noting the shortage of property in brisbane could this suburb be the next boom???? I know it is not a positve cashflow (which is what i ultamitly want) if i were to Wrap it then i could possible achieve that. Or am i better to keep it for about a year or two renting it out and see what prices are like in a year or two and then wrap/sell the property. This would be my first IP. Oh exciting news i am off to a Rick Otton seminar on the 16th. Yeah me.
all these questions not enough time
chris