i know exactly what you mean thought i found a great one in kingston wasn't until i got in the backyard that i noticed 8 x 40m high pine tree just on my side of the boundry! defiantly not a headache i want
Logan Central
- Thread starter miscg
- Start date
i know exactly what you mean thought i found a great one in kingston wasn't until i got in the backyard that i noticed 8 x 40m high pine tree just on my side of the boundry! defiantly not a headache i want
I agree. Still a lot of room to move on top of the Sydney boom. normally id suggest its too late but I'd be happy butting there for myself and for others
Just finding that great deal is all that bit more harder now
yep plenty more trips to qld sounds like it would of been easy picking 12 months ago!
10 hours in Logan
Hi Guys I spent the day in Logan Saturday, before I provide my take on it, I wanted to thank Beanie Girl for her outstanding posts, Beanie's posts are like a firehose of helpful information so thank you so much Beanie.
Objective:
Went to Logan to find dual living houses and to see what opportunities were available to develop.
Here's what i saw and heard.
Locals describing market:
Market is hot according to locals and agents, its a sellers market. Rise of 10% for houses in the past 8 weeks according to one agent. Impossible I know but what I really found and please correct me if I am wrong - I found that for sale starting prices are being set higher however after negotiation the price comes back to acceptable levels, so in my view although prices have increased over the past 6 months, discounting has increased also, to what extent well I dont know more than what I experienced. Would be great to hear anyones thoughts on discounting in Logan.
How many were at inspections:
Varied. There were 6-10 people at 3 houses and 2-3 people at 3 houses. Noone was talking to eachother, I am a pretty relaxed guy but even after saying hello to other people there at inspections, I had no response (not locals). I got along really well with the locals and found out many things about the areas and specific characteristics renters are looking for. If you have the time engage a local they have a wealth of knowledge and really keen to help you. I made many friends that day.
Number of dual living adverts:
3
How many legal dual living opportunities did I see:
None. Unfortunately. I took my tape measure and identified all highset lower levels as below legal height. I think I got too hung up on this and thinking about it, its not that bad.
Public Transport?
Crestmead, Marsden, Boronia Heights are nicer areas but I cant stop thinking about how important trains are for cg, and this really should be front and centre for an investment right? But not in Logan, I found agents recommendations on various properties split between train stations and super bus stations (tbc 2026?). Its a question on the back of my mind and it will be on yours no doubt if you decide to invest in Logan, and that decision is largely - what side of the M1 will have the best chance for cg? I apologise if I sound like a simpleton, truth is, I am, I just started learning about this area a few weeks ago. Also if you have found a place check google maps route duration to brisbane using a bus, many are over 1 hour and only 22-25mins in car, that's due to a poor bus schedule - I imagine, looking deeper and found it to be random, true in some cases and some bus stops are not in google (being there I saw a bus stop immediately outside a place but in google nowhere to be seen).
Agents and Locals:
Every person I met there including Agents are great people, friendly and willing to help you.
Risks:
Over capitalisation. The only issue I could see are pretty clear ceilings of rents per suburb, so when investing ensure to buy a place that's functional and not to over capitalise on a reno.
Interesting find:
In my experience the town centre normally attracts the most rent, in Logan its called Logan Central, however rents are not high due to the "reputation" of the area but I was informed many times its picking up. But still the rents from what I saw thru dd are yet to reflect this, but still I remain open to anyones thoughts on this.
Disclaimer:
All comments above should not be taken as advice, it is my takeaways from 1 day out at Logan only. Happy hunting all.
Hi Guys I spent the day in Logan Saturday, before I provide my take on it, I wanted to thank Beanie Girl for her outstanding posts, Beanie's posts are like a firehose of helpful information so thank you so much Beanie.
Objective:
Went to Logan to find dual living houses and to see what opportunities were available to develop.
Here's what i saw and heard.
Locals describing market:
Market is hot according to locals and agents, its a sellers market. Rise of 10% for houses in the past 8 weeks according to one agent. Impossible I know but what I really found and please correct me if I am wrong - I found that for sale starting prices are being set higher however after negotiation the price comes back to acceptable levels, so in my view although prices have increased over the past 6 months, discounting has increased also, to what extent well I dont know more than what I experienced. Would be great to hear anyones thoughts on discounting in Logan.
How many were at inspections:
Varied. There were 6-10 people at 3 houses and 2-3 people at 3 houses. Noone was talking to eachother, I am a pretty relaxed guy but even after saying hello to other people there at inspections, I had no response (not locals). I got along really well with the locals and found out many things about the areas and specific characteristics renters are looking for. If you have the time engage a local they have a wealth of knowledge and really keen to help you. I made many friends that day.
Number of dual living adverts:
3
How many legal dual living opportunities did I see:
None. Unfortunately. I took my tape measure and identified all highset lower levels as below legal height. I think I got too hung up on this and thinking about it, its not that bad.
Public Transport?
Crestmead, Marsden, Boronia Heights are nicer areas but I cant stop thinking about how important trains are for cg, and this really should be front and centre for an investment right? But not in Logan, I found agents recommendations on various properties split between train stations and super bus stations (tbc 2026?). Its a question on the back of my mind and it will be on yours no doubt if you decide to invest in Logan, and that decision is largely - what side of the M1 will have the best chance for cg? I apologise if I sound like a simpleton, truth is, I am, I just started learning about this area a few weeks ago. Also if you have found a place check google maps route duration to brisbane using a bus, many are over 1 hour and only 22-25mins in car, that's due to a poor bus schedule - I imagine, looking deeper and found it to be random, true in some cases and some bus stops are not in google (being there I saw a bus stop immediately outside a place but in google nowhere to be seen).
Agents and Locals:
Every person I met there including Agents are great people, friendly and willing to help you.
Risks:
Over capitalisation. The only issue I could see are pretty clear ceilings of rents per suburb, so when investing ensure to buy a place that's functional and not to over capitalise on a reno.
Interesting find:
In my experience the town centre normally attracts the most rent, in Logan its called Logan Central, however rents are not high due to the "reputation" of the area but I was informed many times its picking up. But still the rents from what I saw thru dd are yet to reflect this, but still I remain open to anyones thoughts on this.
Disclaimer:
All comments above should not be taken as advice, it is my takeaways from 1 day out at Logan only. Happy hunting all.
If there isn't a train station nearby I would pick a suburb somewhere somewhat close to the highways, m1, Logan highway etc
I went to see one of my tenants tonight, this one is in loganholme, works in the city, she leaves her car at home and catches the bus. Swears it's quicker, once they get onto the buss lanes they get into the city pretty quick. Apparently this is fairly common
I can't see how Logan is going to have too many properties to dampen demand In the foreseeable future, one of mine we had a open on Xmas eve and had ten groups through
I agree with this Mikezen. Nice one
Quick one - prior to going up I ready Michael X's posts, I also wanted to give a shout out to Michael X for providing so much useful information on Logan, inspiring to read his story, many thanks for sharing Michael!
Having checked Logan City Council last week on the progress of the draft plan I noticed that progress has stalled at state govt approval level due to caretaker government mode.
With the election over does anyone have any thoughts on whether the Labor government will put a curtail on the development aspects of the new plan? I read from one media outlet today that Labor/hung parliament scenario would equal anti-development.
I am specifically interested in the separate leases on GF policy change.
With the election over does anyone have any thoughts on whether the Labor government will put a curtail on the development aspects of the new plan? I read from one media outlet today that Labor/hung parliament scenario would equal anti-development.
I am specifically interested in the separate leases on GF policy change.
Just because there's a bus stop sign there doesn't mean there's going to be any usable service. A lot of bus stop signs around Brisbane are, on closer inspection, for school buses only.
Even if there is a public bus check the timetable. The average suburban bus in Brisbane comes only once an hour and finishes very early at night - again not very useful. There's a few good routes in inner suburbs and feeding busways but they're within walking distance of a minority of homes.
A train station in Brisbane (almost certainly) guarantees something every 30 minutes whereas buses are more hit and miss - from very poor to very good depending on location.
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I wouldn't get too hung up on this, it's really rare to get legal height and if it is, the price will reflect it.
If your highset has potential to get good yield, that's good enough for me. Just have all the tenants on one lease.
Particularly Woodridge Station, don't buy too close to the station there. It's quite rough, especially the area with the townhouses/units.
If you buy close to stations, you generally find you will attract more ethnic/refugee families who may not have cars and need to be close to transport & shops. They aren't necessary bad tenants either, some treat your property really well as if it's their own.
+1 thanks again Michael inspiration to get and their and do it
I think we need to be careful with this, regarding legal height. If the legal height is not met, it cant have habitat rooms, ie bedrooms. It can have utility rooms, lounge, bathrooms etc. Currently legislation in Logan allows 1 lease agreement, and can have dual living as long as they share common laundry.
I am just concerned of the insurance audit/claim if the dwelling was burnt down, and its not legal height for bedroom beneath..
It's just a risk you have to be aware of.
That's a good point, it's something one needs to be aware of going into a non-legal highset home. Whether the risk vs reward is worthwhile going into the purchase.
I would love to hear if anyone has had insurance claims on highsets for damages to non-legal height bedrooms and what the results were.
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thought I would check out what all the fuss is about in Logan;
What is going on with these curtains ? - why do they keep highlighting them ? - it looks like they have been cut up
http://www.domain.com.au/property/for-sale/house/qld/logan-central/?adid=2011223003&sp=13
What is going on with these curtains ? - why do they keep highlighting them ? - it looks like they have been cut up
http://www.domain.com.au/property/for-sale/house/qld/logan-central/?adid=2011223003&sp=13
Yes and also be careful of 'low body corp fees' with what appears to be separate free standing houses !!!!! Those low fees can easily be a thousand dollars a year...
Andrew.
I'm interested in buying in Logan but not sure if I'll have time to fly up there a whole lot to see loads of inspections. Anyone know of any reputable buyers agents that work in the Logan area?
I wonder if buyers agents aren't as interested, as the sales values will be lower and if they charge a % commission...
I wonder if buyers agents aren't as interested, as the sales values will be lower and if they charge a % commission...
Why not go on a virtual walk - maybe starting at https://www.google.com.au/maps/@-27...m4!1e1!3m2!1syOXDcPlYMA7TUN3z0gOY0w!2e0?hl=en
Logan Central In fill subdivision
I'm looking at a small infill subdivision in Logan Central, only 6 lots. The prices aren't that low, but its in a good location. If you want to build new. You can PM me and Ill send some details.
Jerry Parker
I'm looking at a small infill subdivision in Logan Central, only 6 lots. The prices aren't that low, but its in a good location. If you want to build new. You can PM me and Ill send some details.
Jerry Parker
head scratching
i have read all your posts and seem more confused ! i can buy a property upto 300k but this will be my one and only chance to get it right ! who can help me make it happen as i dont know much about due diligence etc
i have read all your posts and seem more confused ! i can buy a property upto 300k but this will be my one and only chance to get it right ! who can help me make it happen as i dont know much about due diligence etc