Woodridge/Kingston QLD could have set you free !

[TigerBNE]

Good to hear someone investing in Logan. Personally, I though Logan will be a good area, it is in the middle of Brisbane and Gold Coast. It is close to Pacific freeway (not horrible Gympie Road). IP in Logan is higher risk than good suburb, but high return.

Anyway, everyone should physically walk down to Logan and talk to agent about the rental market. I have been told, rental is not good now, high vacancy rate.

 

[Delilah]

Yep, we moved to inner Bris in 02. I remember buying a computer from a guy in Kingston, who was laughing at his 60k home. We wanted a ppor and not into investing at that time. We waited till 03 until we got our deposit together and house prices were rapidly moving and everything selling so fast.

 

[Rixter]

The Reluctant Investors Lament


I hesitate to make a list

Of opportunities I have missed

Investments that were in my grip

I watch them through my finger’s slip

Prime properties I should have bought

Were lost because of over-thought

I thought of this – I thought of that

I could have sworn I smelled a rat

And while I thought things over twice

Another grabbed them at the price

It always seems I hesitate

Then make my mind up much too late

A very cautious person am I

And that is why I never buy

I chose to think and as I thought

They bought the house I should have bought!

The golden chances I had then

Are lost and will never ever come again

Today I cannot be enticed

For everything’s so overpriced

The deals of yesteryear are dead,

The market’s soft – and so’s my head!

At times a teardrop drowns my eye

I had the chance, but did not buy,

And now life’s saddest words I pen –

If only I’d decided then

Author Unknown

 

[Sheryn]

Anyway, everyone should physically walk down to Logan and talk to agent about the rental market. I have been told, rental is not good now, high vacancy rate.

Tiger
I hadn't visited Logan for 15 months and was surprised at the industrial development going on. No I haven't spoken to a REA but I did visit the Logan Plaza and looked at the new bus transit.

Logan has easy access to Logan Motorway so will be good IMHO for industrial and jobs should follow.

Will be interested to see what happens in the next 5, 10, 15 years of course there is plenty of land but we have seen the development and road construction over the last 7 years.

Browns Plains is another area that has good shopping and a lot of the bigger shops are close together.

Just need a cafe culture (tongue in cheek)


Sheryn

 

[arg821]

Back in 03' one could have bought a IP there for $85K and rented for $160 pw. Fast forward 2010 now a house is around $300K and rent for $300 pw. Only if bought 5 of this and gained instant million $$ equity. Even now I walk & drive around the area and still see potentials with good shopping and easy access/transport (some houses are larger & nicer to many in suburbs that closer to the city), it's not that far from Brisbane cbd actually. With more people moving to SE everyday the socio-eco feel of the area may improve.

So true, so true.
I purchased 2 free standing houses in Woodridge in 2003 for $99,000. Today they are worth around $280,000 conservatively, and are both now rented for $290/week. So, based on my real life purchases you're pretty well spot on there.

Interestingly since then, I've been told Woodridge is a pretty ordinary area, however I've not had any tenant issues, and the demand has always been good.

Andrew.

 

[mikezen]

Good to hear someone investing in Logan. Personally, I though Logan will be a good area, it is in the middle of Brisbane and Gold Coast. It is close to Pacific freeway (not horrible Gympie Road). IP in Logan is higher risk than good suburb, but high return.

Anyway, everyone should physically walk down to Logan and talk to agent about the rental market. I have been told, rental is not good now, high vacancy rate.

Not sure what part of Logan u r referring to... but where my Interests lie rentals are as tight as a camels *** in a sand storm

 

[nhg]

Yep! dont want to talk about 4114

If anyone here ever wants to give me excuses on why a house is better then a unit or its too far away from their home or out of their comfort zone, I will share my tales of these deal you are talking of.

I cringe typing this email because in 03, i had a few opinions like this which cost me a couple of $mill in equity. I didnt buy there because was too far away from me (who care), it was a townhouse (whocares), I couldnt do repairs myself (who cares). Sure I have made some good buys in my time, but in the early days I had some reservations and now I always say, "the only deals I regreat are those in which I didnt do".

When I find a good deal, I follow it through as far as I can go. Knowing I at least tried to finance a deal out of my price-range. This way I can get the experience out of it, and move on knowing I at least tried.

 

[TMNT]

this popped up in my alerts box, i must say very interesting

http://www.realestate.com.au/property-house-qld-marsden-114299475

if you google maps it, it seems to be almost on a dirt track in the middle of nowhere of the suburb???

is this one of the properties that has permits that are valid but "pretty useless in teh grand scheme of things" type of sale

council approval is a good sign though, as for value, I have no idea

disclaimer: i dont own or am related to the owners of the property, nor the agent

 

[Cherry Pro]

The Reluctant Investors Lament


I hesitate to make a list

Of opportunities I have missed

Investments that were in my grip

I watch them through my finger’s slip

Prime properties I should have bought

Were lost because of over-thought

I thought of this – I thought of that

I could have sworn I smelled a rat

And while I thought things over twice

Another grabbed them at the price

It always seems I hesitate

Then make my mind up much too late

A very cautious person am I

And that is why I never buy

I chose to think and as I thought

They bought the house I should have bought!

The golden chances I had then

Are lost and will never ever come again

Today I cannot be enticed

For everything’s so overpriced

The deals of yesteryear are dead,

The market’s soft – and so’s my head!

At times a teardrop drowns my eye

I had the chance, but did not buy,

And now life’s saddest words I pen –

If only I’d decided then

Author Unknown

Rixter - this is so true, thanks for sharing.

I think there are many good buys in the Logan area. 2 bedroom units selling at the $150k mark are renting at $270 per week - 9% return and cashflow positive. 3 to 4 bedroom homes at $230k mark are renting at $330 - $340 per week - still a return over 7%.

Me thinks, after 2770, Logan and it's surrounds ...

 

[Rixter]

Rixter - this is so true, thanks for sharing.

Thanks for the kudos Cherry.