No more than 280k and even that's stretching it. What other areas could u go that cheap in around bris ??
If you limit yourself to 280k, you potentially could be missing houses that may cost a little more or even 340k and above that could give you a beautiful house, a fantastic rent return, strong possibility of capital growth, definite opportunity to add value under the Revised Logan Plan (build-in underneath downstairs, turn an existing granny flat to an 'auxiliary unit', build a detached or attached auxiliary unit on the land, subdivide for dual occupancy etc)
Let give you some examples of houses that sold recently:-
12 Kenny Street Woodridge - sold 341k, rent 545 pw, dual living, quality home
http://www.realestate.com.au/property-house-qld-woodridge-117815819
17 Lowanna St Slacks Creek Qld 4127 - sold 375k, original part of Slacks Creek, beautiful house
http://www.realestate.com.au/property-house-qld-slacks+creek-117925155
8 Parkdale Street Woodridge - sold 287,500, beautiful house, can add bathroom/kitchen downstairs, townhouse zoning - development opportunity
http://www.realestate.com.au/property-house-qld-woodridge-116776787
50 Ashvale Street Kingston - sold 320k, massive highset, legal height, rent 430 pw
http://www.realestate.com.au/property-house-qld-kingston-117001063
24 Minoa Street Woodridge - sold 350k, beautiful house, owner-occupier, opportunity to add kitchen/bathroom downstairs
http://www.realestate.com.au/property-house-qld-woodridge-117154959
25 Mayes Avenue Loan Central - sold 380k, beautiful house, owner-occupier, dual living
http://www.realestate.com.au/property-house-qld-logan+central-114793355
Doubtless there were/are opportunities at around the 280k mark.
But I don't necessarily think people who bought at 340k and above are crazy, on the contrary they could have made wise, canny decisions. Owner-occupiers have also bought into the area besides investors.