Logan Central, QLD??

Hi every one,

i recently bought 2, 2 bdr low set units in Logan Centra, North Rd and Ewing road, one is 5 min to station and other is 10 min, both giving arround 7.5% gross yield. Dont think I will loose more than 2K/yr/unit after tax to hold each property. But I think when the market improves I believe these units will go up in value at least by 50K each. But the question is how long it takes to improve the market situation? at the same time rent will go up even if the price doesnot go up. I believe these property in Logan central will not take long to be cashflow positive. What is your opinion investors pls comment. Your ideas and advice is appreciated.
 
One possible way is to call up Youi Insurance and ask them how much to insure the place.

Give them the address and then they go to their own online map which tells them which addresses are remotely in a flood prone area.............then they wont insure you!!!!
 
I bought my first house and first IP in the Logan area and lived there for 4 years - like others have said there are good suburbs and bad suburbs. I personally after living on the wrong side of the M1 in Slacks Creek would stick to the Springwood/Daisy Hill/Rochedale areas for long term investment but you can make quick bucks by buying in the shitty areas just before a boom then offloading before you have tenant issues.

In hindsight I wish I hadn't sold my Logan properties but cest la vie...

Oh, and if you can buy properties with good fences and large backyards as most people down there seem to own rottweilers :rolleyes:
 
biggaz13 said:
I visited that massive shopping centre about a year ago (Hyperdome?) and was pretty impressed by the size and quality of the building and the shops within. Good employment opportunities for potential tenants.
Click to expand...

We visited the centre in November and was shocked at how small it was. Depends what you are comparing it against I guess... I certainly wouldn't describe it as "massive". I was very disappointed and thought it was a waste of time going there - not many shoppers about either.

My husbands family all live around the Logan area - Marsden, Kingston, Boronia Heights -I wouldn't live there, but my inlaws seem to like it.

When we visit is always feels to me that the whole suburb is renting - you dont get that 'house proud' feeling at all.
 
Hi Nemo30

After much research I agree with you.

The numbers can sound nice but I agree with your summation.

If people insist on investing in the area, I would encourage them to follow Natmarie73's advice and spend extra and run with Springwood/Daisy Hill/Rochedale.
I think your house there will appeal to quality tenants.

In the end we went north of Brisbane to Caboolture.
 
NBS said:
Thanks Andrew a lot of reading material. Will have to take my time with that lot. Just a quick glace seems to be a lot of low density places being built.

I just wonder what impact this will have on local rents.

Brian
Click to expand...

This new integrated planning scheme for logan has been in draft formats with public consultation over the last 2 years.

Big plans on the springwood and underwood areas. There is some great plans on council website.

WRT low density housing, the council is wanting to go the other way here, and provide higher density living, while still keeping the rural areas of the shire rural. I am pretty anxious to see the zoning in my area change to a different class, or even higher resi zone.

The MIBA area just off the plan indicated is moving forward again now, as it slowed down due to GFC. Council are actually doing a small resi development just next to it off Bardon Rd.

It will be interesting to see what the verdict will be in late 2012 with the plan going live. I am slowly chopping down my trees and getting ready for the onslaught.

F
 
At this stage my tenants are signing for another 12 mths at $365 per week so I am happy at that. This is great rent for the area apparantly :).

I agree the value of properties has sagged a bit and at the moment is returning $57 per week after costs. Accountant will soon check the figures when I do my tax.

Would I buy in the area again "yes" but will have to be the right place although as said earlier in my post I am also looking at locations for a quicker CG.

The other areas as indicated by others I do feel would achieve CG sooner than Woodridge.

Thanks
Brian
 
NBS said:
At this stage my tenants are signing for another 12 mths at $365 per week so I am happy at that. This is great rent for the area apparantly :).

I agree the value of properties has sagged a bit and at the moment is returning $57 per week after costs. Accountant will soon check the figures when I do my tax.

Would I buy in the area again "yes" but will have to be the right place although as said earlier in my post I am also looking at locations for a quicker CG.

The other areas as indicated by others I do feel would achieve CG sooner than Woodridge.

Thanks
Brian
Click to expand...

You cant be too upset with that return... $57p/w after costs would make me smile :)

do you know anything about Loganlea?
 
You must log in or register to reply here.

Similar threads

M
Logan Central
3 4 5
Replies
83
Views
14K
C-mac
C
D
Cheap buys with good prospects
2
Replies
20
Views
4K
ije
I
E
Which one? Redcliffe, Brighton or Slacks Creek
2
Replies
34
Views
8K
Investor78
I
R
Mount Warren Park - Brisbane South Side
Replies
2
Views
1K
willair
W
A
Is Bendigo past it's prime?
2
Replies
27
Views
5K
AHwee
A
Back
Top