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Thinking about buying an IP (house) in Logan Central. Any body else looking here?
Any thoughts or ideas would be appreciated.
Goal is to buy and hold for the long term.
I like the low entry point and yields.
Logan Central is a good start. Have you thought about the suburbs surrounding it like Woodridge, Slacks Creek, Kingston, Crestmead and Marsden? Some people also like Waterford West and Beenleigh.
Are you looking for houses or units?
Also, there are more expensive suburbs in Logan like Rochedale South, Springwood, Shailer Park, Daisy Hill and Cornubia.
What is your rough budget and the yield you are looking for?
Hi Misgc,
As rightly pointed out earlier. This forum has heaps of info on logan.
Just to share personal views. We bought one IP there couple of years back at 170K. The market has moved since then, last month we bought one more in Kingstone @ 245K.
Overall it is still a buyers market your can certainly get decent houses around 275K with rental potential of 300 - 320.
This could be a good buy and hold option. If you have steady work then it is even better as your could get back few bobs from Tax man.
Regards
Sounds good. Thank you. Yes interested in the longterm. Have researched forum but a lot of the info seems a little old.
Sounds good. Thank you. Yes interested in the longterm. Have researched forum but a lot of the info seems a little old.
check council rates when working out all your yearly holding costs a few places i looked at in eagleby were around $3200 a year which turned most of the place into negative ones pretty quickly
some concern re Logan area is that it increasingly becomes a investor -buy-low social economic -rent area, owner-occupy declining (which is main drive of capital growth), bit concerned about it.
The council development plan clearly states it's intention to push land supply to temper prices moving forward also. In saying that it is an area in transition, with large population growth expected.
Sounds good. Thank you. Yes interested in the longterm. Have researched forum but a lot of the info seems a little old.
check council rates when working out all your yearly holding costs a few places i looked at in eagleby were around $3200 a year which turned most of the place into negative ones pretty quickly
it is truly well for council to prepare for large population growth, however, Logan has plenty of land to splash.whilst other bayside suburbs like Manly, Wynnum, land supply is very limited (or close to nil), you could still pick up a 3 bedder house for under $400k, with 5% yield. The Bayside suburbs might be a better choice. just an opinion.
it is truly well for council to prepare for large population growth, however, Logan has plenty of land to splash.whilst other bayside suburbs like Manly, Wynnum, land supply is very limited (or close to nil), you could still pick up a 3 bedder house for under $400k, with 5% yield. The Bayside suburbs might be a better choice. just an opinion.
This could be misleading..
QLD councils mostly bundled there rates notice, garbage collection, state levy, water/sewerage service and water usage in one bill.
$3200/year for the above servicing sound about right. When you break them into individual charges, it is no different to NSW and possibly other States..
on a house @ 225k buy renting for 300p/w which is around a 6.90% yield i worked out it was going cost $20 p/w without factoring in maintenance I'm looking for a good cash-flow place atm do you think you can still find houses around the 7.5% yield in logan
Thinking about buying an IP (house) in Logan Central. Any body else looking here?
Any thoughts or ideas would be appreciated.
Goal is to buy and hold for the long term.
I like the low entry point and yields.