townhouse in ipswich

I'm a total newbie so I dont know how you guru's feel about lower-socio-economic areas. Shall I inform our friend that Redbank Plains is, how shall I say?, highly undesirable place to live.
 
I'm a total newbie so I dont know how you guru's feel about lower-socio-economic areas. Shall I inform our friend that Redbank Plains is, how shall I say?, highly undesirable place to live.
That's if you don't fall down the mineshaft:D
 
I'm a total newbie so I dont know how you guru's feel about lower-socio-economic areas. Shall I inform our friend that Redbank Plains is, how shall I say?, highly undesirable place to live.

I've got IP's in Redbank Plains and Goodna and about to start a dual occupancy build in RBP ...... never had a problem with tenants and I've always felt safe when visiting the area.

I have made great returns and get a very good rent yield, .... with the added bonus of development opportunities. You don't have to invest in the inner city suburbs to create wealth Angel, .... some of us actually manage to do okay in "highly undersirable" places as well.

Your mind is like a parachute ... if its not open then its no good to you.
 
I'm a total newbie so I dont know how you guru's feel about lower-socio-economic areas. Shall I inform our friend that Redbank Plains is, how shall I say?, highly undesirable place to live.

Typical newbie.

:D

Sorry, but Redbank Plains isn't *that* bad. Sure, there are some undesirable pockets, but some parts are fine.

That's if you don't fall down the mineshaft:D

Isn't that Collingwood Park? :confused:
 

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How are you finding the Goodna market, Mystery? I read somewhere St Ives is being extended and a new road from Goodna to Redbank plains will be built parallel to the highway. Also Aldi will be built. great news..

aegcp, .....

I keep an eye on the council web site for any announcements ... I knew that they had plans to upgrade the shopping centre and train station, but I wasn't aware of the new road or Aldi ... very good news.

Our property is in Cunningham Rise estate which seems to attract premium price and is a desirable location, probably because they are newer low set homes. I believe a second development stage has recently opened up.

I heard the negative hype regarding the area before we bought, but I believe its changing in a positive way. I would have no problems living in the Goodna area, especially now that they are working on the freeways to increase the number of lanes making it easier to get to Brisbane or Ipswich.

From my distant observations the Goodna market seems stronger than the Redbank Plains market at present ..... Goodna prices seem to have recovered from the GFC slow down, whereas Redbank Plains is still sluggish. I believe that this is mainly due to all the new housing developments that are opening up in RBP's..... It's just a case of being patient and holding longer term.

The area still has some good development opportunities available if you look close enough ..... our dual occupancy build will give us a 8.5% gross yield on completion not including building depreciation allowances, so basically it will be positive cash flow from day one.
 
We have looked at Redbank Plains in the past, but found the area to be saturated with townhouses and units. I think Brassall, and around Ipswich CBD you would get better returns. Ipswich CBD is having a revamp with lots of State Govt offices relocating there and I know of one area where a townhouse complex is planned. Looks like a new apartment building going up on East/Wharf St also.
 
Thank you for the comments. I certainly want to know more about these matters. Collingwood park is not scary at all, my concerns come from driving around the general area in the past and noticing some locations were not just on top of mines, but very easily flooded too.

I guess my question is how do you get increasing rents over time, out of a suburb where your tenants could well end up on welfare? You cant charge more than the market can pay, so does this limit your wealth-creation plans significantly?

I am thinking of the very old suburbs that I have driven past for forty years, whereas our colleague may be referring to new developments BEHIND what i understand as Redbank?
 
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