Loganlea , QLD
- Thread starter Mr T
- Start date
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.
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?
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.
Thanks very much Andrew A.
agree with AA. And the gated complexes with pools are not positive cashflow on their own, only by a function of cheaper entry price and ok rent. If you can pick carefully and negotiate hard there is no reason you can't come close to +cf in this area with a house on land. I have owned both with no probs but I like the control that comes with free standing homes.
Hello Mr T ..think you are looking at the right area. From my recent attendance at a few seminars, beleive, Brisbane will have an upswing in the next half of 2012.
Have just bought two houses in the Logan city area, with yields over the 7.5%.
Learned the hard way, units with swimming pools, gyms and super high bodycorp fees and are a no-no for me.
Agree with knightm, I like the control with freestanding homes.
Good luck !
Have just bought two houses in the Logan city area, with yields over the 7.5%.
Learned the hard way, units with swimming pools, gyms and super high bodycorp fees and are a no-no for me.
Agree with knightm, I like the control with freestanding homes.
Good luck !
Thanks for the imput.
What about Kingston...3 bedroom bick house...600 sq m2....under 250k....agent claims could rent for $270pw
From what i observe, plenty of house for sale with price neg...is it sign price might frop further?
The vancancy rate is low.
what's ur opionion?
Hi, I can tell you from my own experience, a member of my family bought into a gated community, thinking she was doing the right thing. The strata fees just kept going up and up and they had a contract with a caretaker they couldn't break which meant they were paying his salary and every year there was a large increase to cover it. The gate kept breaking down also. For my own peace of mind I wouldn't buy into a gated community.
By the way, I hope you intend on looking at the Kingston place in person and the street in particular. The logan areas have some nice and not so nice areas so beware of which streets are ok and which are not. There's plenty of information on here for logan, just trawl through it all.
By the way, I hope you intend on looking at the Kingston place in person and the street in particular. The logan areas have some nice and not so nice areas so beware of which streets are ok and which are not. There's plenty of information on here for logan, just trawl through it all.
in the same area and about the same interest rate 
