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Very general reply only and not advice for you as I don't know your situation.Hi,
I have been monitoring the townhouses at waterford Park 116 station road,loganlea.
Four/five years i was offerd the townhouses for 300k+
Today its only going for less than 300k.
Do u think its a good buy or better to buy the older houses there for that price?
As a cashflow investment you are concentrating on the net yields so strata fees are important, furnished can sometimes help with higher rents, if the yields aren't that much more impressive then a house on a block of land is hard to go past.I've been having a look at the Logan area too recently. I'm from Victoria and dont really understand the concept of the "complexes" that seem to be common up there. They seem to have large numbers of townhouses plus a swimming pool, with strata fees running at $2000+ per annum and some advertise themselves as being "gated". Can someone please give me a few words of wisdom about the pros and cons of this type of housing as a cashflow postive/neutral property investment?
I've been having a look at the Logan area too recently. I'm from Victoria and dont really understand the concept of the "complexes" that seem to be common up there. They seem to have large numbers of townhouses plus a swimming pool, with strata fees running at $2000+ per annum and some advertise themselves as being "gated". Can someone please give me a few words of wisdom about the pros and cons of this type of housing as a cashflow postive/neutral property investment?
Very general reply only and not advice for you as I don't know your situation.
I strongly prefer established houses on blocks of land in this postcode and Logan region in general if you aren't getting an outstanding buy price or yield on the strata properties or having to buy them for price range reasons.
Factor in strata costs to get net yields and them compare with houses, also look out for issue with the complex that might show up in a body corporate records search, talking with residents is a help as well for general research.
Looking at 5.5-6% gr yield for good quality brick houses on good blocks of land, <300k has a lot of good choice and <350k budget is getting you 4+2+2 newer brick housing, hard to compete against those for a 300+ townhouse buyer in my opinion.
Have just bought two houses in the Logan city area, with yields over the 7.5%.
!