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Im looking to buy a IP with in either Redcliffe or Caboolture, with the idea of developing the block or renovating the house, can anyone share some info on the two areas for.. growth,rental,potential.
redcliffe being 20k's from the city and Caboolture being 40k's
I own a property in Margate (next to Redcliffe) and Deception Bay. I get $310pw on my property at Deception Bay whilst I struggle to get 260pw for Margate albeit it has good CG.
of course a savvy investor like you Sash would only make that comparision if their age, size, and bedrooms/baths/car cover are the same.
Im looking to buy a IP with in either Redcliffe or Caboolture, with the idea of developing the block or renovating the house, can anyone share some info on the two areas for.. growth,rental,potential.
redcliffe being 20k's from the city and Caboolture being 40k's
both are good growing areas and not that far from brisbane cbd I have a property in caboolture and get $440 a week
That's not a very good return for a 6 bed house that cost you $800,000!
But it is for a 2 bed unit that cost you $250,000k only last week,
Quoting the gross rent and insinuating that it is a good rent is meaningless without an idea as to the property and what you paid for it.
Winston.....yes the Margate property is a smaller 2 bedder but renovated to a high standard. Also, the one I own is in one of the best streets in the otherside of Oxley Ave.
Frankly have been gobmacked by what rents are possible in DB!
If I was to choose I would Margate....but what would I know....tenants must know something I don't.