Picks For Positively Geared Property

J

james_w

I am currently researching for positively geared property in queensland

so far I have these suburbs under my radar:

rockhampton
aldershot
torbanlea
howard
blackwater
emerald
dysart
middlemount
stanwell
hervey bay
mount morgan
dalby
dirrinbandi
capella
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My 2 favorite are Aldershot and Stanwell,
becuase both sit about 5mins from large regional city's
(rockhampton/maryborough)
Both also have potentiol for more employment with mining projects.
Houses under 200k aldershot does not have a lot of land atm
Both areas you can buy blocks around $50,000.
Both are a short drive to the coast stanwell 45mins to Yeppoon
and Aldershot 20mins from Toogoom.

If you have more areas in qld or another state please ad them would also be good to hear your favorite areas and why
 
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Feel free to argue if my thinking is wrong but

if you can buy land for $50K and to buy a house is $200K that doesn't sound like much of a bargain.

In some towns that I've looked at (not in Qld admittedly) to buy a house (with land of course) is a lot less than $100K more. That's a bargain as you couldn't build the house for that.

That's what I'd be looking at. eg if a block of land is $100K I'd be wanting to purchase under $200K
 
travelbug said:
Feel free to argue if my thinking is wrong but

if you can buy land for $50K and to buy a house is $200K that doesn't sound like much of a bargain.

In some towns that I've looked at (not in Qld admittedly) to buy a house (with land of course) is a lot less than $100K more. That's a bargain as you couldn't build the house for that.

That's what I'd be looking at. eg if a block of land is $100K I'd be wanting to purchase under $200K
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both areas in my favorite picks have houses under 139000 with a reno in stanwell @ $95000 I agree with the argument if you can buy the house cheaper then you can build it for then that's a bargain and theres plenty in Toogoom, aldershot is a tightly held area and both have plenty of tenants from outlying areas such as rockhampton-dysart for stanwell

maryborough-hervey bay for aldershot

admittley aldershot you can buy a house cheaper then you could build and most are lowset brick with that said the $50,000 example there is 3 blocks that have asking of $55000-$59000 across both towns generally blocks in aldershot are $70,000 1/4 acre these are bargain blocks

you should take building costs into the equation as you can build alot cheaper in aldershot then stanwell and would be hard pressed building for under 200k total cost in stanwell both areas need septic and tanks etc.

Mind giving up the names of the places your talking about how close to regional city hubs and mining projects aswell as the coast?
 
Mackay
Toowoomba
Longreach
Barcaldine (closer to new Alpha mine than Emerald, QANTAS flies into town)
Chinchilla
Miles
Roma
 
Haven't looked into either of those places, don't fit into my criteria.

Jericho is closer to the mine, but I'm not sure the train even stops there anymore. If there was going to be a FIFO situation for the Galilee mine, you'd imagine flights would either come into Barcy, Longreach or Emerald.
 
Icarus said:
Haven't looked into either of those places, don't fit into my criteria.

Jericho is closer to the mine, but I'm not sure the train even stops there anymore. If there was going to be a FIFO situation for the Galilee mine, you'd imagine flights would either come into Barcy, Longreach or Emerald.
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yep good point just thought some workers may elect in living around them areas with properties being alot cheaper in the area rattler used to stop in jericho to go to blackall not sure if it's the case anymore either
 
Fair enough, if you end looking into those two towns (there were some privately listed houses for sale last time I drove through Jericho), have a look into Willows as well. At least there is a shop/caravan park there and some really nice houses hidden around in amongst the township. I think that there are a couple for sale there at the moment as well?

I'm surprised you didn't mention Clermont in your list above. It seems you listed every other CQ mining town except there (Springsure and Glendon). Some very good properties in C'mont available and BAC have just put the applications out for 500 new employees. I'm sure not all will live in single accom. (Hence my listing for Mackay above).

I was really tempted to buy there (in C'mont) a few years back, but didn't fit into my criteria. Revised my criteria since then, but still kicking myself!
 
Icarus said:
Fair enough, if you end looking into those two towns (there were some privately listed houses for sale last time I drove through Jericho), have a look into Willows as well. At least there is a shop/caravan park there and some really nice houses hidden around in amongst the township. I think that there are a couple for sale there at the moment as well?

I'm surprised you didn't mention Clermont in your list above. It seems you listed every other CQ mining town except there (Springsure and Glendon). Some very good properties in C'mont available and BAC have just put the applications out for 500 new employees. I'm sure not all will live in single accom. (Hence my listing for Mackay above).

I was really tempted to buy there (in C'mont) a few years back, but didn't fit into my criteria. Revised my criteria since then, but still kicking myself!
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your right I didn't put in clermont being from out that way I guess I still remember c/mont being a nothing area with that said yeah I kick myself to had houses offered for 8k in blackwater town was dying then guess is why I am still weary about the mining hype:eek:
 
Icarus said:
Fair enough, if you end looking into those two towns (there were some privately listed houses for sale last time I drove through Jericho), have a look into Willows as well. At least there is a shop/caravan park there and some really nice houses hidden around in amongst the township. I think that there are a couple for sale there at the moment as well?

I'm surprised you didn't mention Clermont in your list above. It seems you listed every other CQ mining town except there (Springsure and Glendon). Some very good properties in C'mont available and BAC have just put the applications out for 500 new employees. I'm sure not all will live in single accom. (Hence my listing for Mackay above).

I was really tempted to buy there (in C'mont) a few years back, but didn't fit into my criteria. Revised my criteria since then, but still kicking myself!
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I am still quite tempted to buy the house that has 8 studio units in rubyvale little birdy told me theres a camp wanting to be setup around the area
 
There's one in my town just come up as the new cheapest in the town - 4br in good nick for $125k. Considering 3br in average nick have been selling for $190-250k this has got to be a typo, but if the price is genuine this is a massive bargain and would be so positively geared it isn't funny.
 
Yeah I saw that one you listed a couple of months back in Rubyvale. Only camp I know of going in around that are is closer to Alpha, and that's still in the planning phase. Land in and around Rubyvale/Sapphire/Anakie/Willows is still leasehold, I am always weary of not having control of the land you build on/buy. Also lack of water infrastructure in this area will also hinder building anything!

C'mont has always been a stable town, doesn't rely solely on mining - although that has pushed the prices up over the last few years - still a very productive farming/grazing area with rural property prices some of the highest $ per acre in QLD.

I remember when all of the govie houses were transported out of B'water - moved into Rocky or Bilo I think? I also remember when you couldn't give away a house in Dysart/Glendon and Moranbah had a "zoo" in the middle of the town square and that was about all it had to offer, BMA staff were offered a house in Emerald for $7k in 00/01 and the average house price was $60k. I wonder if all of these new estates that are being built in mining towns will end up like Greenvale (north of CT) one day?

I'm only in my early 30's, so these things happened not that long ago! That's why I don't buy properties that solely rely on the mining industry, no matter how good the returns!

Sorry, will get off my high horse now! This thread was supposed to be about positive cash flow property now, not a rubbish history lesson.
 
RumpledElf said:
There's one in my town just come up as the new cheapest in the town - 4br in good nick for $125k. Considering 3br in average nick have been selling for $190-250k this has got to be a typo, but if the price is genuine this is a massive bargain and would be so positively geared it isn't funny.
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what type of rent would this achieve?
quite a few cheap propeties in the area.
 
Icarus said:
Yeah I saw that one you listed a couple of months back in Rubyvale. Only camp I know of going in around that are is closer to Alpha, and that's still in the planning phase. Land in and around Rubyvale/Sapphire/Anakie/Willows is still leasehold, I am always weary of not having control of the land you build on/buy. Also lack of water infrastructure in this area will also hinder building anything!

C'mont has always been a stable town, doesn't rely solely on mining - although that has pushed the prices up over the last few years - still a very productive farming/grazing area with rural property prices some of the highest $ per acre in QLD.

I remember when all of the govie houses were transported out of B'water - moved into Rocky or Bilo I think? I also remember when you couldn't give away a house in Dysart/Glendon and Moranbah had a "zoo" in the middle of the town square and that was about all it had to offer, BMA staff were offered a house in Emerald for $7k in 00/01 and the average house price was $60k. I wonder if all of these new estates that are being built in mining towns will end up like Greenvale (north of CT) one day?

I'm only in my early 30's, so these things happened not that long ago! That's why I don't buy properties that solely rely on the mining industry, no matter how good the returns!

Sorry, will get off my high horse now! This thread was supposed to be about positive cash flow property now, not a rubbish history lesson.
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Greenvale has had huge growth over the last few years only a few years back you could pick up them brick homes for 50k almost fell off my chair when I saw what they were now:eek: should of bought the town lol
some blocks are freehold in rubyvale/sapphire/willows etc not many though.

Theres supposedly alot of exploration on a certain road near the area...

btw I only turned 30 in oct remember the houses being moved etc
 
Speculators or retirees buying in Greenvale? I was up there for work mid-way through last year and saw a couple of the prices people were asking for houses in the area when I filled up at the servo. Tell them they're dreamin! If I hear that the rail line is starting to be re-built then I might be singing another tune.

If Greenvale prices are going up, maybe add Charters Towers to your list of possibles? Not sure on the status of the mining there, but when I was looking at returns a couple of years back, they weren't too bad. There is/was a planned waterfront development that was apparently approved for just outside the town.

Tomahawk Rd?

Have you ever looked at Cloncurry, Richmond or Julia Creek for IPs? Went for a drive out to 'The Curry on my way to Normanton/Karumba a couple of years back to look at an IP. Was very CF+ve then but needed a heap of work.
 
Icarus said:
Speculators or retirees buying in Greenvale? I was up there for work mid-way through last year and saw a couple of the prices people were asking for houses in the area when I filled up at the servo. Tell them they're dreamin! If I hear that the rail line is starting to be re-built then I might be singing another tune.

If Greenvale prices are going up, maybe add Charters Towers to your list of possibles? Not sure on the status of the mining there, but when I was looking at returns a couple of years back, they weren't too bad. There is/was a planned waterfront development that was apparently approved for just outside the town.

Tomahawk Rd?

Have you ever looked at Cloncurry, Richmond or Julia Creek for IPs? Went for a drive out to 'The Curry on my way to Normanton/Karumba a couple of years back to look at an IP. Was very CF+ve then but needed a heap of work.
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Not sure how greenvales going now with the new prices with that said they deifnantly made huge cap gains dad told me to buy one or 2 when they were 50k I checked it out seemed like nothing there really would say mostly likely be retiree speculators area chepeast home seems to be 135k that's a $85000 gain from the old price lol unit 75k this was 45k a few months ago and the other asking 105k:eek: and one of the ones for 50 we looked at now has an asking of 295k now that's a tell him his dreaming price:D
 
james_w said:
what type of rent would this achieve?
quite a few cheap propeties in the area.
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I wouldn't say they're cheap, most are well over $200k these days - I think 'cheap' is under $150k these days. Just that one is about $100k below what it 'should' be. The cheapest 4br house that has sold in the last few years was $180k and it had an awful location and was for sale for well over a year because of it. 4br houses are unusual.

A new 4br house gets $280pw rent so this one wouldn't get much less.
 
RumpledElf said:
I wouldn't say they're cheap, most are well over $200k these days - I think 'cheap' is under $150k these days. Just that one is about $100k below what it 'should' be. The cheapest 4br house that has sold in the last few years was $180k and it had an awful location and was for sale for well over a year because of it. 4br houses are unusual.

A new 4br house gets $280pw rent so this one wouldn't get much less.
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guessing around $250 for this one had another look theres 4 properties under 150k in jamestown certainly looks very positively geared and cheapest 4 bedder with quite a bit of equity my concern would be how long it would take to find quality tenants having no on ground knowledge of the area.
 
Personally, I am quite fond of regional Victoria, where there is one third of Vic's population, wherever the deal and good buying might be, (what I rat out), or where I am able to value add...
 
james_w said:
guessing around $250 for this one had another look theres 4 properties under 150k in jamestown certainly looks very positively geared and cheapest 4 bedder with quite a bit of equity my concern would be how long it would take to find quality tenants having no on ground knowledge of the area.
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The 4 under 150 are an uninhabitable church that needs a good $100k spent on it to be liveable, a house nowhere near Jamestown that I can't find on Google at all so it must be seriously rural (this agent is prone to this sort of exaggeration), a really poor condition duplex needing a decent amount of work that would clean up well with a new kitchen etc, and this one which looks perfectly fine as is - which is why I think the price should be $225k not $125k. Over about $170-200k you get to the 3br version of this $125k one. The rare few unrenovated 4br houses round here have all sold for mid-high $200s. All the cheaper houses here sold during the FHOG boost's final week last year :rolleyes:

Rentals here are rare as hen's teeth - 4br ones are even rarer - and get snapped up in microseconds by wind farm workers, they don't usually get advertised online. You get a wind farm worker you have an impeccable quality of tenant - they usually stay at the pub at $100 a day due to lack of accommodation. I had several call about my old house not believing the price I had it for rent for but sadly, too far away for them.

Oh and I just rang the agent. He's an out of town agent and thinks the price is good, despite 4 sales within 100m of this house (including the TWO bedroom one next door to it) in the last year ranging from $50k to $150k higher than this one's listing price. If you're going to buy it, buy it NOW before they change the asking price. You could always resell it in a year and make $100k back on it or a 10% gross yeild is nothing to be sneezed at.
 
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