Logan Central, QLD??
- Thread starter Milanista
- Start date
Ive noticed that alot of the properties that are going up for auction, are properties that have been owned for 5-10+ years. Think its a case of the owners having NFI what its worth and agent pushing for auction
That is surprising as auctions aren't really a favoured style of selling in Qld.
Maybe interstate owners?
Marg
We bought in Logan Central earlier this year, paid $231 k and get $345 per week in rent. In the process of settling on our third in the area ...this time in Marsden. Pleased with the returns for sure, the last two were purchased at auction.
I own 2 IPs at Woodridge, bought free standing 3br houses for $99K back in 2004, now worth around $290-310K, renting for just under $300/week. Had good tenants the whole time, no problems at all.
Hrmm... found some, not many at high $100,000s but mid? just the one at mid $159k
They are out there and with the impressive yields.
If it fits with your strategy and your eyes are open about the area, then great. I was just talking with a person involved with the purchase of many properties in this area done by a Sydney based agency. This person mentioned how he received the question 'So what is the area like?' by one of the buyers as they didn't know anything about the suburb.
If you want a good grip on what it's like to live in Woodridge/Kingston/Logan central then a fast way is just to spend 30 mins having a coffee in Logan central shopping centre and having a chat with the shop owners.
Is it comparable to say the Mt Druitt or Campbelltown suburbs in Syd, for those who've experienced both? Depends on where in Mt Druitt/Campbelltown as well bc there are better parts, like all areas.
Hi Highly Geared
I spent a day driving around in the Logan area and my first impression was the area looked better than Mount Druitt. Visited about 6 homes in the Woodridge area which I'm told is the worst of the lot and found nothing feral.
Mind you, there's Hebersham in Mount Druitt and there's Tregear and Willmot and these are chalk and cheese and I consider some parts of the latter quite feral (bottles strewn on the road, kids running around with cigarettes in their mouths, tenants hurling abuse etc). We then stopped for coffee at Maccas, possibly in Logan Central and it was okay.
Our IP in Woodridge could have been tidier but the tenant was quite pleasant. When we visited our IP in Logan Central, I couldn't believe how immaculately the tenants had kept the place. They had a few kids but the kitchen and bathroom was spotless.
When I was told that Marsden (where our third IP is) is more sought after than Logan Central and Woodridge, I can see nothing wrong with the Logan area.
Maybe, I'm just made of sterner stuff - we have properties in Elizabeth (which I thought was scary) and Raby (Campbelltown area) which I think is pretty nice.
Agree with Andrew, maybe a day trip to Logan and its surrounds will provide a clearer vision.
Good luck !
I spent a day driving around in the Logan area and my first impression was the area looked better than Mount Druitt. Visited about 6 homes in the Woodridge area which I'm told is the worst of the lot and found nothing feral.
Mind you, there's Hebersham in Mount Druitt and there's Tregear and Willmot and these are chalk and cheese and I consider some parts of the latter quite feral (bottles strewn on the road, kids running around with cigarettes in their mouths, tenants hurling abuse etc). We then stopped for coffee at Maccas, possibly in Logan Central and it was okay.
Our IP in Woodridge could have been tidier but the tenant was quite pleasant. When we visited our IP in Logan Central, I couldn't believe how immaculately the tenants had kept the place. They had a few kids but the kitchen and bathroom was spotless.
When I was told that Marsden (where our third IP is) is more sought after than Logan Central and Woodridge, I can see nothing wrong with the Logan area.
Maybe, I'm just made of sterner stuff - we have properties in Elizabeth (which I thought was scary) and Raby (Campbelltown area) which I think is pretty nice.
Agree with Andrew, maybe a day trip to Logan and its surrounds will provide a clearer vision.
Good luck !
which particular suburb or area>??, obviously it cant be logan central, not much under $220k
edit: if you had to choose the same property in logan central vs kingston vs Loganlea,
which one would people prefer? I sense that Loganlea might develop into its own prestigious area but wanted other opinions as well, appreciated!
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Can't beat - mixing with the locals for research, and everything is relative, I moved from Townsville to Greenbank, Brisbane 18 months ago.
Greenbank is 10 k's west of Browns plains (ordinary) which is 5 k's west of Beenleigh, Woodgridge, Logan Central etc.(more ordinary).......but numbers don't lie, high yields should lead to future growth (and less fiscal pain in the short term) & certain streets in an area can be different to others, buy the worst house in the best street at a discount, give it a small amount of love and hey presto.
There are deals around, I have been called in the last couple of months for properties in the high 100s (180 - 190). Its a pity I was not able to move on either at the time as they both suited what I was after. Hopefully I now more organised and ready when a deal pops up and not caught short.
Anyway I have now elected to wait as I'm transfering to Roma Qld for the next 7+ months so will look out that way and see whats crops up.
I do agree there are areas I would want to visit prior to buying and this should be part of your DD anyway.
My current IP I'm happy with and my 1st tenants have moved on and left the place spotless. I had to drop the rent a bit to get the 2nd tenant however this will increase in 6mth. I would rather drop the rent a bit and get tenants than leave vacant which only cost $$$ and effects your bottom line.
Brian
Anyway I have now elected to wait as I'm transfering to Roma Qld for the next 7+ months so will look out that way and see whats crops up.
I do agree there are areas I would want to visit prior to buying and this should be part of your DD anyway.
My current IP I'm happy with and my 1st tenants have moved on and left the place spotless. I had to drop the rent a bit to get the 2nd tenant however this will increase in 6mth. I would rather drop the rent a bit and get tenants than leave vacant which only cost $$$ and effects your bottom line.
Brian
hey mate,
was wondering if you could clarify my research so far, ive been getting the feeling that Loganlea is more desirbable then logan central due to it being near the hospital, train station ,and the developments encouraged/proposed by the council,
Woodridge and Kingston are similar, the rougher areas but are both getting cleaned up,
ive found a few properties at about the $200k mark, but both need complete renos, ie wall to wall,
a few past sales in the past 6 months in 170-180k, but mostly in the $210-$230k range,
im looking for something that has great yield, if it needs work then thats fine, I am happy to do a paint, clean, tidy up etc. new kitchen if needed (but prefer not to).
just trying to get my head around whether I keep on sniffing around at central or waiting in loganlea for a simialr priced one which might mean I wait longer, or whether to consider woodridge/kingston as similar to central.
apprecaite it