logan city - feedback

[Truly Exotic]

$350k in logan will get you a castle!

unless its a 12 bedroom with legal height, or a duplex, thats a very high budget,

you can easily get a tenanted one with no work required for $250kwithout even trying very hard

 

[see_change]

Luv! (I can say that without being disrespectful!)

350k in Logan?

Let me put it into a melbourne perspective

It's like rocking up to dandenong with 500k to burn

Cliff I know you made money on Logan but how can you justify Logan at 350 over Redlands or redcliffe or wynnum west or countless other locations

Luv, you can buy a house in frankston, hoppers crossing, werribee, laverton, St. Albans, sunshine west, lalor? For the same price all with better growth potential

Mid last year we bought in Manly, Wynnum ( *2 ) and Teneriffe. Logan was still dead but you could still get good buys in those places .

Since when did I recommend 350 for a place in Logan ? I haven't made any specific recommendations on particular properties . I rarely do . I wouldn't buy anything in logan for 350 , though . Having paid just over 400 for a very nice Townhouse in Wynnum about 50 mt from the bay , i'd have a real problem with logan for 350 ..... They were mid / low 200's last time I looked so I'm assuming they haven't moved that much in the last 6 months ...

I think most of my comments on this thread are about the capital growth you can make on so called cash flow properties . ( which are rarely cash flow positive )

If I was buying at the moment , I'd look at Logan , Frankston along with adelaide and some other places .... But I'm not buying at the moment so I'm not spending my time looking at those sort of properties .

Only thing I'm watching closely at the moment is comparables for our PPOR so
we have an very informed idea on its valuation when we look at selling in the next year or so . Once we sell , if Frangers still hasn't moved , we might even buy there , or make some really low ball offers on Inner city apartments ....

Might go down to the comedy Festival for a couple of weeks and see what we can find . You want 500 for THAT !!!!!... how about I offer you 250 ....

Cliff

 

[luv]

If you read my post , they did , some tripled .

Cliff

Yes. it has

 

[luv]

Thanks all for your suggestions. I would have liked to see your reasons as well you think the area will do well moving forward.

 

[see_change]

Thanks all for your suggestions. I would have liked to see your reasons as well you think the area will do well moving forward.

History repeats

Sydney leads Brisbane follows . Logan follows the rest of Brisbane .

Sydney's moving , parts of Brisbane as well. IHMO Logan will follow .

I don't watch fundamentals that closely . I learnt that from the share market .

Herd mentality is every thing . This places is at the front of the herd . When enough informed investors here start buying , that's one time to buy .

The other time is when no one is buying .

I do both .

Cliff

 

[devank]

Sydney leads Brisbane follows . Logan follows the rest of Brisbane .

Sydney's moving , parts of Brisbane as well. IHMO Logan will follow .

What moves after Logan?

 

[see_change]

What moves after Logan?

Last time , rocky .

Once Logan has moved , look for places that haven't and then work out if it's somewhere you want to invest in .

Cliff

 

[strongy1986]

Luv was suggesting that he/she were going to buy a house - not a duplex or set of units, in Logan for 350k and I was putting in my two cents that this would possibly be a bad idea seeing you could buy a comparative asset for the same price in better suburbs ( sorry cliff but to me it seemed like you thought it wasn't a bad idea)
For a house in Logan I would spend 200k - probably not possible but considering the prices of the rest of Brisbane and considering that Logan has some of the worst suburbs it seems more than fair to me

Cherry, why are you more confident on Logan than some other cheap places in melbourne? Population has to count for a lot ?

 

[see_change]

Luv was suggesting that he/she were going to buy a house - not a duplex or set of units, in Logan for 350k and I was putting in my two cents that this would possibly be a bad idea seeing you could buy a comparative asset for the same price in better suburbs ( sorry cliff but to me it seemed like you thought it wasn't a bad idea)
than fair to me

?

Strongy , I think I'd lost the connection with the original post . When I looked back to see what I'd said , I didn't go back to the starting post ....

I don't think any regular's here would pay 350 for an IP in logan.

Cliff

 

[devank]

Daisy Hill is in Logan but the median is $380K

 

[norwoodman]

Daisy Hill is in Logan but the median is $380K

That's not really the suburb people think of when they mention Logan (or Rochedale South). It's usually the cheaper areas like Woodridge, Logan Central and Kingston that are thought of.

 

[RetireRich101]

Most people buying in cheaper area of Logan are chasing for CF, so they can buy more properties. There isn't many places in a metro area (excl regional) that has over 6% returns, apart from Logan or Elizabeth Downs. Last time I crunch the numbers for Frankston, it was a bit lower which may not be CF..
Logan is really 20km from Brisbane CBD and 40km to Gold Coast..
I drive pass Sydney 2770 area a bit, but only driven pass once in 4114 (the rougher suburbs), but it's my view that 4114 seem not so 'rough' as 2770.
Last time I crunch the Housing Commission stats, it appears 4114 had a lower number of HC properties compared to 2770.

I was doing paper shuffling tonight and found a Sydney West auction held by R&W in Rooty Hill exactly 1 year ago. For those don't know, R&W were the agents putting HC properties on auction. A lot of properties sold in the area were under $300k, more closer to $250k. There isn't any properties in 2770 that under $300k.

Some, like myself are hoping this growth in low social economic area in 2770 will replicate to 4114.
4114 is really just recovering from 2009 prices, and in my view still have more room to grow if the anticipation that Brisbane is where people should be buying.
The $50/week surplus is not alot, but when it comes to serviceability I know the bank will lend me more money

For me, I cant accurately predict capital growth. I can't see anything beyond 3 years from now. But What I know is Logan prices are 2009 prices, and everyone is talking about it.

 

[FelixL]

Most people buying in cheaper area of Logan are chasing for CF, so they can buy more properties. There isn't many places in a metro area (excl regional) that has over 6% returns, apart from Logan or Elizabeth Downs. Last time I crunch the numbers for Frankston, it was a bit lower which may not be CF..
Logan is really 20km from Brisbane CBD and 40km to Gold Coast..
I drive pass Sydney 2770 area a bit, but only driven pass once in 4114 (the rougher suburbs), but it's my view that 4114 seem not so 'rough' as 2770.
Last time I crunch the Housing Commission stats, it appears 4114 had a lower number of HC properties compared to 2770.

I was doing paper shuffling tonight and found a Sydney West auction held by R&W in Rooty Hill exactly 1 year ago. For those don't know, R&W were the agents putting HC properties on auction. A lot of properties sold in the area were under $300k, more closer to $250k. There isn't any properties in 2770 that under $300k.

Some, like myself are hoping this growth in low social economic area in 2770 will replicate to 4114.
4114 is really just recovering from 2009 prices, and in my view still have more room to grow if the anticipation that Brisbane is where people should be buying.
The $50/week surplus is not alot, but when it comes to serviceability I know the bank will lend me more money

For me, I cant accurately predict capital growth. I can't see anything beyond 3 years from now. But What I know is Logan prices are 2009 prices, and everyone is talking about it.

Totally agree. I am buying in Logan now for reasons you mentioned.

 

[Cherry Pro]

+1 agree with Retire Rich

We've already refinanced the properties we bought in Logan early 2012 and still feel there is room for growth. 4114 not as rough as 2770 for sure, in fact, I was pleasantly surprised on my first trip there.

My son bought 2 x 1 bed units there last year at 126,000 same product selling today at 166,000, they give him $20 per week - what's not to like about Logan

Don't think Luv will spend $350k on a single property.

 

[RPI]

History repeats

Sydney leads Brisbane follows . Logan follows the rest of Brisbane .

Sydney's moving , parts of Brisbane as well. IHMO Logan will follow .

I don't watch fundamentals that closely . I learnt that from the share market .

Herd mentality is every thing . This places is at the front of the herd . When enough informed investors here start buying , that's one time to buy .

The other time is when no one is buying .

I do both .

Cliff

It has been that way the last 2 cycles. More experience investors then me would have seen more cycles then that.

I have meet 3 different developers from Canberra in the last week who have never bought in Brisbane before. All are complaining about how anti-development the ACT gov has become and Sydney is too hot now.

 

[strongy1986]

Logan won't replicate mt druitt

How can it?

You can buy in a good suburb in Brisbane for less than a crap suburb in Sydney.

Two different cities , Brisbane has about a quarter of population of Sydney and plenty of developable land. Sydney is landlocked and has none that is why druitt boomed it was because there are no other options in the city limits. Brisbane like melbourne has heaps of options and will for years to come

The yields are good though

 

[FelixL]

Brsibane is only half the population of sydney not 1/4

Logan is only 20km from CBD while Mt Druitt is 40km

When Sydney becomes unaffordable people will move to brisbane, and when the good suburbs in Brisbane booms, people will move outwards

There is also plenty of land for development in sydney 40km radius outwards.

 

[norwoodman]

Within Logan, most of the land that can be developed is at the southern end around Logan Reserve and Waterford. The northern and central areas stretching from Springwood down to Crestmead are close to fully developed.

 

[Coota9]

Thought still a few area around Marsden/Crestmead still have land available as lots of H&L packages still being advertised..

 

[norwoodman]

Just come back from several opens today around Logan in postcode 4114. Every single one of them already has multiple offers, some sight unseen and many above the asking prices. I think the best buying opportunities in this part of Logan are fast dwindling, there's too much attention now and some crazy selling prices about to be seen.

One of the agents I talked to was rather bewildered as to the concentration of activity in this one part of Logan, yet many other parts of Logan with almost as good rental returns (e.g. Beenleigh) aren't seeing much action.