Hi Everyone,
I am fairly new to property investing, I have two units in Perth (last one was purchased in November 06). I would like to diversify and purchase a house and land in Brisbane. I Believe my budget will be around $240k to up to $280k.
I am originally form Perth but am in Brisbane for a few months for work, so thought I would take this opportunity to look around, and hopefully identify a nice capital growth suburb within 7km form the Brisbane CBD.
Am I dreaming given my budget and desired distance from the CBD? I would greatly appreciate if any clued in locals could suggest some suburb names as a starting point for my IP search. Ugly ducklings and "worst house in best street" situations are desirable!
Many thanks in advance.
yes, u r dreaming. if you are looking in this budget, try around the kallangur area in brisbane's north.
hi there
i waas in bris last week and looked north of bris around maloolaba. There are units for uni students in sippy downs for 190k. they are only just positive with 95% occupancy. The uni there is set to double in students in the next 5 yrs so may not be a bad investment., and you can get houses there in the mid 300k.
Cheers
Jane
Hajda, try Morayfield a wee bit further out but a very high growth area according to Residex. You should be be able to get a 3 bedroom, brick and tile carport post 85 good size block within your budget. There are a lot of out of state investors buying there now with multiple offers coming in for these types of properties so you will need to get onside with a couple of agents and be desicive as they are normally dealing with a few investors at a time and will sell to them over the phone shortly after or just before listing.
jane farrell wrote:hi therei waas in bris last week and looked north of bris around maloolaba. There are units for uni students in sippy downs for 190k. they are only just positive with 95% occupancy. The uni there is set to double in students in the next 5 yrs so may not be a bad investment., and you can get houses there in the mid 300k.
Cheers
Jane
Hi Jane,Funny you should suggest student accomodation, that is actually the first path I went down when I arrived at brisbane 2 months ago with an eye to expand my portfolio.
I started out looking to buy a cf+ student accom for about $110k to $130k right next to the CBD (uniview it was called). I had a look at about 10 and thought I may as well go for a slightly more expensive serviced apartment to get (slightly) better capital growth. After spending a week or two researching and looking at a few around the CBD, I got the feeling that they may not be the best investment (just a gut feeling based on general reactions when a managed apartment is mentioned as an investment, and the fact that filling the unit is not under my control etc etc but that is a whole other thread).
This led me to decide to get away from units (my two current properties are units) and go for the old tried and true house and land. I have not had any experience looking for "non-units" outside the immediate CBD, so this is all new to me.
bardon wrote:
Morayfield a wee bit further out but a very high growth area according to Residex. You should be be able to get a 3 bedroom, brick and tile carport post 85 good size block within your budget.Thanks Bardon, I will start looking in Morayfield and surrounding areas.
Keep the suggestions coming people! thanks.
keen as wrote:yes, u r dreaming. if you are looking in this budget, try around the kallangur area in brisbane's north.cheers, I will also take a look at Kallangar
Hi Hajda
I work in the Park Ridge / Boronia Heights area. A bit further than what you would like to invest but still in your price range…
if you would like details on the area or possible investment properties feel free to contact me.
Cheers
Matt
I definatly recomend north brisbane suburbs such as Kallangur, Mango Hill, Petrie and even a bit further up the bruce highway such as caboolture,
I have bought alot of property in these areas, I live and work in sydney now but I actually grew up in Kallangur so I know this area of brisbane well.
Tysonboss1 wrote:I definatly recomend north brisbane suburbs such as Kallangur, Mango Hill, Petrie and even a bit further up the bruce highway such as caboolture,
I have bought alot of property in these areas, I live and work in sydney now but I actually grew up in Kallangur so I know this area of brisbane well.
I have now spent a bit of time looking at Kallangur. Tysonboss1, having grown up there, I would love to hear you describe what you think Kallangur has going for it over the 10 years…
There is definitely a few there in my price range – I will probably organise to view a few later this month when work calms down.
thanks in advance
Hi Hajda
If you are prepared to look further afield I can give you some info on a house and land package in Gatton which is between Ipswich and Toowoomba. It is $304,422 for a 4 bed dble garage etc but is not due for completion for at least 6 months which would give you the opportunity to perhaps increase the budget. Please let me know if you would like more info.
Regards
ozsparkozsparky200319117 wrote:Hi HajdaIf you are prepared to look further afield I can give you some info on a house and land package in Gatton which is between Ipswich and Toowoomba. It is $304,422 for a 4 bed dble garage etc but is not due for completion for at least 6 months which would give you the opportunity to perhaps increase the budget. Please let me know if you would like more info.
Regards
ozsparkHi ozsparky200319117,
I wasnt exactly looking for a "new" house, my goal was to get a "renovators dream" or the worst house in a good street and sit on it for a few years, with a view to do a massive reno or subdivide 5 to 10 years down the track, when the land value has appreciated significantly (something I cannot do with the units in Perth).
Still – I am here to absorb as much information as I can – so send me an email at [email protected] with details of your deal.
Anyone else with anything they would like to contribute to my quest for IP#3 feel free to email me aswell. Warning: if you email me and I give you a stock tip, don't listen to it – my track record on shares is atrocious!
cheers.
anywhere really up to and around caboolture is in developer's crosshairs at the moment
hajda wrote:I have now spent a bit of time looking at Kallangur. Tysonboss1, having grown up there, I would love to hear you describe what you think Kallangur has going for it over the 10 years…There is definitely a few there in my price range – I will probably organise to view a few later this month when work calms down.
thanks in advance
Main factors that I believe Kallangur has going for it are
1. Population growth and employment growth in that region of brisbane will continue,2. Large Comericial strip running the length of anzac ave is improving all the time, combined with the north lakes westfield which is growing so the town has a real modern feel now and everything is on hand.
3. Transport is very good,… Kallangur has a great bus network and petrie train station is very close and with the bruce highway at the eastern side has had upgrade which means you have the city 30mins south and the sunshine coast 30mins north.
4. Kallangur has a very balanced mix of low, medium and High income areas, no matter what sort of investment your looking for I think you will find a good investment there, there is also very strong rental demand especially in the lower to medium income range of properties,
I know a couple of really good investment minded real estate agents send me a private message and I will pass on their contact details on to you. the good properties are not staying on the market very long at the moment so it helps if you have an a good relationship with some switched on RE's
Petrie is a nice quiet pocket to own an IP in. It is close to train station, schools and shopping.
Sailesh C wrote:Petrie is a nice quiet pocket to own an IP in. It is close to train station, schools and shopping.I have a duplex there to,
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