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  • Profile photo of brisbanescoutingbrisbanescouting
    Participant
    @brisbanescouting
    Join Date: 2003
    Post Count: 27

    [8D]Hello All!

    I’m hoping that this forum could offer me some information relating to an IP I am looking at in Brisbane. All I want is a Queenslander in need of some work for around 240K – 30 min from Brisbane. Does anyone have any idea’s about potential spots in brisbane to watch??

    Regards,
    Brad

    Profile photo of BettyBlockbusterBettyBlockbuster
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    @bettyblockbuster
    Join Date: 2003
    Post Count: 46

    Brad

    I think the best thing to do is grab a map. Identify the radius area from the CBD that satisfies the 30min travel criteria required and start researching. Look for any major developments ie roads (this will impact on the time it takes to get to the CBD), buildings, sport/entertainment complexes. Also look at transport routes. Check out the median prices in the areas and identify which areas are booming at the moment, boom areas have a flow on effect to surrounding suburbs.

    As steve says, you can find good positive cash flow propeerties just about anywhere. You just have to do some research.

    BB

    Profile photo of hwd007hwd007
    Member
    @hwd007
    Join Date: 2002
    Post Count: 247

    $240K for 30 min drive from CBD, I wouldn’t touch it. but then my criteria may likely differ to yours. so good luck. Also tax wise an old house would concern me at $240K half hour from the city. I expect you going for the land?

    Profile photo of scottscott
    Member
    @scott
    Join Date: 2003
    Post Count: 110

    G’day Brad,
    You’ll have no trouble getting what you want within 15 mins from the CBD.
    hwd007 old queenslanders (or character home as they are affectionately called), are the hot ticket around Brizzy especially to reno and resell, or hang onto and use as an equity base.

    Any area 5 – 10 ks maybe a little further, of the GPO thats going for 240K needing work will see good CGs, but be careful about the usual things, ie not on a busy road, near shops and schools, bigger land is better, views etc, the list could go on for ages.
    Just be sure the house is sound!
    If you really wanted specific areas I could go through some with you, but that would only be my opinion, you’d be better off getting on realestate.com or simmilar and doing a search within your guidelines.

    Cheers
    Scott S

    “Aim for the stars and you’ll shoot the top of the telegraph pole. Aim for the top of the telegraph pole and you’ll shoot yourself in the foot!”
    -anon

    Profile photo of brisbanescoutingbrisbanescouting
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    @brisbanescouting
    Join Date: 2003
    Post Count: 27

    Scott,

    Do you have an email address I could contact you on?

    Regards,
    Brad

    Profile photo of brisbanescoutingbrisbanescouting
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    @brisbanescouting
    Join Date: 2003
    Post Count: 27

    Does anyone know a good team of people in brisbane?

    Profile photo of WeaverWeaver
    Member
    @weaver
    Join Date: 2003
    Post Count: 5

    quote:


    Does anyone know a good team of people in brisbane?



    Hi Brisbane scouting
    I am looking at starting a property tour in brisbane for investors down south who want to come up for the weekend and see first hand what’s hot and what’s not.I’m looking for feedback as i’m unsure if there is a market for such a thing.

    weaver

    Profile photo of tankbusterboytankbusterboy
    Member
    @tankbusterboy
    Join Date: 2003
    Post Count: 17

    I would be very interested!!!!

    [8D]

    Profile photo of mcdeyessmcdeyess
    Member
    @mcdeyess
    Join Date: 2003
    Post Count: 56

    I also have a question about the Brisbane market. I am new to QLD having moved from Canberra so I understand little about the market and am trying to catch up. I read in an early forum topic to stay away from the inner city appartments? Why is this? I understand that there is currently there is an oversupply doesn’t that just mean you can get a good deal on one, rent it out and wait for things to ease off and sell for a nice CG?

    Regards,
    Kev

    Profile photo of hwd007hwd007
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    @hwd007
    Join Date: 2002
    Post Count: 247

    just stay away from high rise

    Profile photo of JPJP
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    @jp
    Join Date: 2002
    Post Count: 11

    Kev,

    The important thing to remember about purchasing in Brisbane (or any big city) is the land value. It is the land that appreciates over time, as the house actually depreciates (unless you’ve value added through renovations) so when you’re looking at apartments, you need to consider the land content within the purchase price. As a general rule of thumb, 30% of it should include land value. As you can see, the smaller the block the easier this is to achieve.
    Brisbane has suffered from oversupply, that’s true, particularly in the new unit market, with record numbers of new flash apartments going up. This has led to a ripple effect on the older units, with more rentals available and thus more competition. We all know what that means for our returns!! :(
    As for buying and then waiting for “things to ease off”, this realistically may take some time, and in the meantime you need to be prepared to be out of pocket significantly. If you can afford this and have faith that cg will reward you in 3,4,5,6…(however many yrs your plan is!) yrs time, then go right ahead. Just be sure to set some risk minimisation strategies in place if you’re on a tight budget eg: fix interest rates, take out IO loans etc.
    Not that I have any experience in Brissy units (I have a house up there) but my favourite place is New Farm, right down in the older art deco (smaller blocks) units, walking distance to the ferry terminal and park. It really is lovely down there.
    But, hey, don’t let emotion come into it. Property is there for making a profit!
    Good luck Kev and Brad!

    Jacqueline :)

    Profile photo of scottscott
    Member
    @scott
    Join Date: 2003
    Post Count: 110

    Hi J P and hwd,
    I agree 110% about the high rise thing. But for slightly different reasons!
    While land is not nessesarily an apprecitating asset, when it is in demand (and generally it is) it will appreciate, but if no one wants to live in the area (Boggabilla for example), it will deprecitate. (55% over 5 years infact). Accomodation is also an asset, that when in demand it appreciates, when there is an exess it depreciates.
    So hi-rise units would be a good investment if there was a shortage of them! By their nature there will never be a shortage of them so avoid them like the plauge!
    Sorry to seem argumentative but just trying to make you think. it is not nessesarily the item for sale that apreciates but the demand for it that causes it to appreciate. So poorly sort after land will depreciate and sort after units will appreciate![;)]
    It’s up to you to do the due dilligence to decide which is which![:D]

    Good luck,
    Scott S

    “Aim for the stars and you’ll shoot the top of the telegraph pole. Aim for the top of the telegraph pole and you’ll shoot yourself in the foot!”
    -anon

    Profile photo of scottscott
    Member
    @scott
    Join Date: 2003
    Post Count: 110

    Hi Bris scouting,
    My team starts as far south as Melbourne and goes as far north as Mt Isa, so don’t let proximity limit your choices![;)]
    The net and phone/fax, express post, make it like your next door anyway![8D]

    Cheers,
    Scott S

    “Aim for the stars and you’ll shoot the top of the telegraph pole. Aim for the top of the telegraph pole and you’ll shoot yourself in the foot!”
    -anon

    Profile photo of MarkSprengerMarkSprenger
    Member
    @marksprenger
    Join Date: 2002
    Post Count: 6

    Scott,

    How is Mt. Isa for property – houses and units, returns etc?

    Cheers
    Mark[:)]

    Profile photo of scottscott
    Member
    @scott
    Join Date: 2003
    Post Count: 110

    Hi Mark I haven’t had a chance to thuroughly look into Mt Isa yet (which is silly ’cause my mother comes from there, and I have some good contacts in the place). As you’ve mentioned on another post, the MIM takeover is an issue to be watched. While it has good infrastructure any factors that affect the mines will have an effect on rental demand in the area. I’m currently trying to organise the time to do a bit of a road trip over about 3 weeks up the coast to Proserpine, back down to Rocky and then inland to Isa(groan[xx(]).
    Then flying home[:D]!
    It’s just a matter of fitting it in with work which wont be easy!
    At fisrt glance it looks good though! it’s just a matter of getting in there and having a look.
    My gut feeling is that it is a safe bet, but I’ve been wrong before![:I]

    Cheers
    Scott S

    “Aim for the stars and you’ll shoot the top of the telegraph pole. Aim for the top of the telegraph pole and you’ll shoot yourself in the foot!”
    -anon

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