Hi, we’ve holding off buying an IP as the Brissie market is too hot. Recently we were advised when investing in property go for one crappy house in a niche suburb (within 5klm of Brisbane CBD) rather than 4 houses in ordinary suburbs. That way it will survive the best & worst times. As our IP loan will be quite large is it worthwhile stretching ourselves and going into this sort of debt? Also does timing really matter? If anyone has any views about the Brisbane market I’d be very interested. In particular the inner city suburbs…[
]Horse for courses….I would prefer 4 houses as opposed to 1…..My investor told me better to buy 4 cheaper houses than 1 expensive one….you can always sell one or two off if in trouble…I really don’t think you can go wrong anywhere you buy…we bought in Redcliffe & Clontarf 12 months ago and have made about $100,000. Had we of bought in Deception Bay at the same time which is a couple of suburbs away, but the Mud Flats put us off, we would have made a lot more… the domino effect is certainly happening up there….CBD is too dear for me…good luck in your endeavours…Merls…
A crappy house can be a noose around the neck in terms of maintenance costs and vacant periods between tenants. Pick a radius from the city (say 10 or 15km) and look for an attractive low maintenance brick house. If it’s less than 20 years old you can also get the tax benefit of special building write-down (2.5% of construction cost is deductible each year for 40 years from the date of construction). The suburbs in Logan Shire near the railway (eg. Woodridge, Kingston, etc) are considered to be undervalued.
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“Don’t be afraid to take a big step if one is indicated.
You can’t cross a chasm in two small jumps”. — David Lloyd George.
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The suburbs in Logan Shire near the railway (eg. Woodridge, Kingston, etc) are considered to be undervalued.Baysider who considers them to be undervalued ?? I would say many people believe them to be getting overvalued. What is your reference ?
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Hello,
My name is Jason. I know an agent who specialises in positive cash flow, but paper loss property (using depreciation etc) in Brisbane/Gold Coast area. I will say that I get a referral fee from her, so I wont be asking for a finders fee. If you would like her to contact you, drop me a line [email protected]. If not, good luck with your investing.
My apologies if this is considered to be “spam”
Jason Vearing
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