Guys,
I am looking at expanding my IP portfolio and my eyes are on the Bri / SE QLD / Gold Coast area.
While I am in NSW I don't really know the suburbs up there so well but read up on Beenleigh, Eagleby, Logan area, Woodridge, Springwood and Underwood.
Typically the area seems to still be reasonably affordable with rents over 5-6% (i.e. rent would pretty much pay the mortgage interest so effectively it would cost me nothing to hold, sit tight waiting for capital gains / appreciation few years down the track).
One of the potential deals I like in Woodridge is going at around 220k with rent ca $240 / wk.
What is general consensus about the market up there? Any locals or anyone with IP up there?
Thanks
I am looking at expanding my IP portfolio and my eyes are on the Bri / SE QLD / Gold Coast area.
While I am in NSW I don't really know the suburbs up there so well but read up on Beenleigh, Eagleby, Logan area, Woodridge, Springwood and Underwood.
Typically the area seems to still be reasonably affordable with rents over 5-6% (i.e. rent would pretty much pay the mortgage interest so effectively it would cost me nothing to hold, sit tight waiting for capital gains / appreciation few years down the track).
One of the potential deals I like in Woodridge is going at around 220k with rent ca $240 / wk.
What is general consensus about the market up there? Any locals or anyone with IP up there?
Thanks