Where to buy investment Brisbane South or logan for $350k or under

[willm]

Willm, Hugh72 is on the mark.

I am asking you where you are wanting to go with your investing. Investing is merely your vehicle to get you to where you are wanting to go.

Where is your destination or in other words why are you investing. What are you ultimately trying to achieve/goal?

Hey Rick,

thanks for helping clear up what was meant.
I do know my strategy , the concern is i'm highly suspicious of most properties and finding it difficult to take the leap on a property even after due diligence that it may not produce results as i wanted. ie. no rent or no capital growth.
This is where i'm needing advice

 

[Harro]

Agree with Rick comments here.

My most commonly asked question is 'Where should I buy?'

I always try to take investors back a few steps. Why are you property investing in the first place? What are you trying to achieve, your end goal and why? Once you have these answers, the where to buy and what to buy will answer itself.

Also form the best team you can. I see investors wanting to enter the market without a good mortgage broker, accountant, solicitor etc. It makes the journey so much harder and if things aren't setup right from the start, it's alot harder to undo them.

Hope this helps,
Michael

Plenty of investors have entered the market without using Brokers and have done quite well. Self education is paramount. No-one will look after your money as well as you will! The less so-called professionals getting into your back pocket the better.

 

[INVSTOR]

Thanks INVSTOR.
thats another option to consider. having been in brisbane 2 years my knowledge of area is still limited as understanding the market historry of each area. Do you know any suburbs around logan still affordable that do not have the rough image and more safe working class vibe suburb?

I don't really follow Bris much but at a quick glance Algester is still at similar prices to when I was looking 4.5 yrs ago. That would suggest to me it's overdue for some growth. I was watching Daisy Hill, Springwood, Rochedale South about 2.5 - 1 yr ago and the prices were starting to move up although not sure where they are now. I have a property in Waterford (Logan), and Parkinson beside Algester which have both had about 10% growth in past year.

 

[Rixter]

My goal is to retire working from job as soon as possible and have more time for other things in life.

Sounds great... so how will know when you can retire and what date have you attached to having more time for your other things in life by?

If you dont know where you are going how will you ever know when you have arrived?

 

[Rixter]

Hey Rick,

thanks for helping clear up what was meant.
I do know my strategy , the concern is i'm highly suspicious of most properties and finding it difficult to take the leap on a property even after due diligence that it may not produce results as i wanted. ie. no rent or no capital growth.
This is where i'm needing advice

Success is 80% 'Correct' Mindset x 20% 'Applied' Strategy.

In other words, how you think is four times more important than how you plan to do it.

This is why, its the starting that stops most people. Not from a financial perspective, rather a psychological one.

Fear is what stops people.

The way to conquer fear is 'Knowledge' - having 'Faith' in what you're learning and then the 'Courage' to step out of your comfort zone to jump in and apply it in real life.

It is simple but not easy. If it was easy everyone would be doing it.

The only way to overcome your fear is to jump in and start swimming.

I hope this provides some food for thought.

 

[INVSTOR]

Thanks INVSTOR.
thats another option to consider. having been in brisbane 2 years my knowledge of area is still limited as understanding the market historry of each area. Do you know any suburbs around logan still affordable that do not have the rough image and more safe working class vibe suburb?

Daisy Hill and surrounds is worth a look.

 

[bob shovel]

Hey Rick,

thanks for helping clear up what was meant.
I do know my strategy , the concern is i'm highly suspicious of most properties and finding it difficult to take the leap on a property even after due diligence that it may not produce results as i wanted. ie. no rent or no capital growth.
This is where i'm needing advice

perhaps you should look into a buyers agent to chase down what your looking for, they can provide a list of properties that fit your requirements... but it does come at a fee. this may be useful to overcome the fear, but not just because you are paying someone! you should still do your own research and just let them narrow down the same areas etc and find a winner that gives you confidence with your decision and not just what they tell you to buy!

 

[GreyGhost]

Found this searching today

Before (Nov 13):
http://www.realestate.com.au/property-house-qld-slacks+creek-114814835

After (Currently for sale):
http://www.realestate.com.au/property-house-qld-slacks+creek-118872111

Nice reno and potentially nice profit, however I wonder what the vendors motives are considering the potential yield is on it even after his reno costs..

 

[jerrybee]

I don't really follow Bris much but at a quick glance Algester is still at similar prices to when I was looking 4.5 yrs ago. That would suggest to me it's overdue for some growth. I was watching Daisy Hill, Springwood, Rochedale South about 2.5 - 1 yr ago and the prices were starting to move up although not sure where they are now. I have a property in Waterford (Logan), and Parkinson beside Algester which have both had about 10% growth in past year.

You must be comparing the OK parts of Algester from 4 years ago with the crap parts of Algester from today, because the whole area has moved at least 80k in that period. You can still buy something decent for around the mid-400's but competition is getting tougher. 4 years ago it would have been mid 300's at most, and you would have had zero competition.

My cousin put in an offer for a small house in Algester, $470k asking, and there were 3 other offers. If you are serious about the area it's time to stop twiddling your thumbs...! (personally I just don't like the area)