Thoughts on Brisbane $480k - $500k

Thanks for the advice so far.

The goal of the property is to achieve capital growth to enable me to buy more property in the future and ultimately retire in my 40s if possible. I don't plan on selling anytime soon if all goes well.

I'm actually pre approved for two properties at roughly 500k each. Am thinking one in Brisbane and one in Sydney depending on how things go.

What is Runcorn like as a suburb in terms of demographic, transport, access to the city, schools etc? Is it generally an area that floods? It hasn't been on my radar, but you certainly get a lot of house for your money by the looks of it.
My friends kids go to a public school in Runcorn. They seem like good schools as the Asian influence of studying hard and achieving academically influences all students positively. My kids went to Algester Primary and St Thomas More College for a couple of years which were great.
 
That's great, I will definitely go and have a look around Runcorn then. I'll be in Brisbane scouting around this week. I'm not really expecting to find anything straight away but I guess it could happen.

I may end up flying home and having to buy remotely which will be harder, but sounds like others have done successfully. I'm excited and apprehensive at the same time...
 
Also, how much importance should I place on depreciation?

Most of the houses I am looking at in this price range are established older style houses. Some may have been partially renovated which I'm assuming could be claimed as depreciation.

Alternatively, a far higher proportion of town houses in my price range have newer fixtures and fittings and could be depreciated.

Am I still best to be looking for a free standing house over a townhouse?
 
Living and Investing in Yeronga?

How reliable is buying and investing in Yeronga? how is train/bus frequency going to CBD and surrounding places? I'm planning a trip up to Brissi next week- wud check that out myself as well ;)
Will be great to get your thoughts on this..thanks
 
The rail transport link running through Yeronga is the Beenleigh / Ferny Grove Line.

The longest you will wait for a train at Yernoga station is 15 minutes to get to the CBD on weekdays. The journey itself is 20 minutes to central station.
 
Thanks Dizzy.
How bout commuting by bus... Is that user friendly?
Shopping centres and local grocery shops- are they gud or have to travel far for weekly shopping?
 
I'm not sure on the buses. I pass through Yeronga every day by train so my only knowledge of the place is what I see out the window on the way to work, and some memories of visiting friends there during Uni days.

There are local shops (coles) , schools, and yeronga tafe. Your also not far from a hospital.

Its also bounded by the Brisbane river on one side so there may be potential flooding issues which you can check on the BCC flood map website. I don't recall how bad the 2011 flooding was in Yeronga,
 
Bus and rail they use a card system (Go-card) which you just wave over a card reader when you get on/off the train bus so its pretty easy.

If your going to be looking around the inner parts of Brisbane I think buying a Go-card and using buses and trains would be the way to go.
 
Is the Go card valid for a day's trip or if I need to travel within the South area (hop-on hop-off0 using public transport- what wud be the preferred option?
I want to get a feel of the area using trains/buses and meet up with few real estate agents in the surroundings! That could possibly assist me make a decision :) Thanks
 
Its essentially a cash storage device. You just top it up either by credit card online or at one of the top up machines they have at most of the train stations.

Valid for as long as there is money stored on it.

Once your done using it you get any money left on it and the deposit for the card back.
 
Is the Go card valid for a day's trip or if I need to travel within the South area (hop-on hop-off0 using public transport- what wud be the preferred option?
I want to get a feel of the area using trains/buses and meet up with few real estate agents in the surroundings! That could possibly assist me make a decision :) Thanks

The Go card is great - it gives something like a 30% discount on the fares.

We used the airport train and Go card lot in our recent Brisbane reno.

You have to apply online and then get the card by post - which can take more than a week. I don't think you can just purchase a card at the station.
 
I bought mine at Central Station

I just looked up the go-card retailer it says you can buy one at the Air Train Domestic terminal.

Slow day at work today :)

Hope you enjoy your trip around Brissy
 
Thought about hiring a city cycle to ride around Yeronga? :)
That would be the best way of getting familiar with the suburb.. there's only a few small hills ;)

The real estate agents you'd want to meet would be up at Ipswich Rd in Annerley.
 
I'm not sure on the buses. I pass through Yeronga every day by train so my only knowledge of the place is what I see out the window on the way to work, and some memories of visiting friends there during Uni days.

There are local shops (coles) , schools, and yeronga tafe. Your also not far from a hospital.

Its also bounded by the Brisbane river on one side so there may be potential flooding issues which you can check on the BCC flood map website. I don't recall how bad the 2011 flooding was in Yeronga,

I like Yeronga as well, but yes, would have to be careful around those inner south river suburbs due to flooding. The BCC maps should be able to clarify things.
 
Ho did you go with your hunt phantom_x ? Did you end up buying anywhere yet ?

Hi Frisky, apologies for the late reply, work has been pretty hectic lately.

We ended up buying a new townhouse (just completed) in Upper Mount Gravatt. It's 3 bedrooms, 2.5 bathrooms, ducted air, balcony access from two bedrooms and single garage. It is in a small block of 4 town houses and the strata fees are quite reasonable at about $500 per quarter.

It is in quiet street, very close to Holland Park West and about 9 km from the CBD. For us, being our first investment property and living in Sydney we wanted a fairly low maintenance property and having something new means there will be less headaches maintenance wise for the initial few years and allows us to claim back the depreciation.

It has easy access to the local shopping centres, bus services to the city around the corner, Griffith University etc.

It took a little while to find a tenant, but ended up getting $495 a week. We initially started at $520 which was what it was appraised for rental, but at the time in the middle of the year there wasn't much interest. We'll reassess it after 6 months and look at slowly increasing it.

I have to thank Rixster from the forums on here as he helped out greatly with a lot of advice during the process and RPI for helping out with the legal side of things.

Cross our fingers for some good capital growth in Brisbane over the next few years.

We're now on the look out for our next investment property, and deciding between another in Brisbane or something in Sydney.
 
Advise on property listing for rent- QLD

Hi All,
I am in my unconditional period for property purchase and the settlement is due on 20 October 2014.
The current owner is not allowing access to the property for rental inspections, hence the property manager is not able to advertise the property or show it to potential tenants.
Spoken to the conveyancer and the current got back saying she is not comfortable with inspections. The property remains vacant from 9th October to 20 October (as the tenant vacates on 9 Oct) and can only be available for inspections after the settlement happens on 20th Oct.
Having said that, I will lose rental income until I find a tenant then.
The buyer's agent and property mgr cant help much.
Can you please advise and share your thoughts on this?

Many thanks :)
 
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