All Topics / Help Needed! / Investment property in Upper Coomera?

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  • Profile photo of SkydancersSkydancers
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    @skydancers
    Join Date: 2011
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    Hi there

    I'm new to this forum and looking for my first investment property. I've heard about the tax benefits of buying a new property but want to stay under $400 000. We've seen one that's 5 – 6 years old, in Upper Coomera in our price range that we think is a great deal. (Radically reduced) Awesome location, bus, park, schools, shops and rental $400 pw.

    Any thoughts? I feel like a novice and would appreciate any advice.

    Thanks so much

    Ps: Is there a way to 'watch' topics and be notified of new posts on previous topics?

    Profile photo of SkydancersSkydancers
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    @skydancers
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    Ps: Also considering North Lakes 4509. Opinions please.
    Ta!

    Profile photo of Andrew_AAndrew_A
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    There's quite a bit of choice under 400k in the Gold Coast – Brisbane corridor, healthy yields as well.

    Profile might be newer 3-4 bedroom brick house on a decent sized block of land, can get plenty brand new for 400k and well under if that's a consideration, all comes back to your criteria and goals.

    Profile photo of SkydancersSkydancers
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    @skydancers
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    Thanks Andrew. Any thoughts on North Lakes?

    Criteria: Under $400 000, good return, newish, great location.
    Goal: Buy investment property.

    Cheers

    Profile photo of Jen1Jen1
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    @jen1
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    My sister lives in Upper Coomera and I have an IP not far away from this, so I know the area quite well. I feel that Upper Coomera will have quite a bit of growth in the long term. It does have pockets that are mainly owner occupied and other areas that are almost exclusively rentals. You will generally do better in terms of growth (and probably rent) chosing in the owner occupied areas. Good luck with your search!

    Profile photo of Josh AthertonJosh Atherton
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    North lakes is possible to creep under the 400k mark with a 4 x 2 x 2 and rent for $400-$420 brand new…giving you less stamp duty, added interest however tax deductible immediately as well as $10,000 grant.

    North lakes will fair quite well is my thought as it is close to the airport which will also come into play over the next few years as we see a phenomenal fly in fly out workforce for regional QLD’s mining boom. as well as lifestyle from the sunshine coast only a stones throw away. North lakes i believe will see good growth over the medium to long term.

    Josh

    Profile photo of Henry AdamsHenry Adams
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    @henry-adams
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    Yes, I also been suggested by JDL strategies to buy in Coomera, QLD, 4209 for a townhouse unit $ 435k 2x2x1 I wonder if this is a good place to buy this year according to this report : http://www.investsmart.com.au/property-research/QLD/4209/Coomera.asp

    Any comments are welcome.

    Profile photo of Andrew_AAndrew_A
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    Skydancers wrote:
    Thanks Andrew. Any thoughts on North Lakes?

    Criteria: Under $400 000, good return, newish, great location.
    Goal: Buy investment property.

    Cheers

    More specifics would be needed. This area is a minefield of marketeering, so need to do your research even more carefully than normal.

    Keep in mind one of the big concessions you accept sometimes with the new builds out here is the small block size, also I don't like developments with narrow streets and rows of houses that all look like each other, though if the numbers look good then it could stack up.

    Profile photo of Henry AdamsHenry Adams
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    Andrew_A wrote:
    This area is a minefield of marketeering, so need to do your research even more carefully than normal.

    Keep in mind one of the big concessions you accept sometimes with the new builds out here is the small block size, also I don't like developments with narrow streets and rows of houses that all look like each other, though if the numbers look good then it could stack up.

    LOL, is it ? I thought that the agent who works for me (JDL Strategies) has carefully select this property for my own condition for the best CG suburbs ? This is also reflected in the newest Smart Property Investor magazine this week.

    Profile photo of Andrew_AAndrew_A
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    Henry Adams wrote:
    Andrew_A wrote:
    This area is a minefield of marketeering, so need to do your research even more carefully than normal.

    Keep in mind one of the big concessions you accept sometimes with the new builds out here is the small block size, also I don't like developments with narrow streets and rows of houses that all look like each other, though if the numbers look good then it could stack up.

    LOL, is it ? I thought that the agent who works for me (JDL Strategies) has carefully select this property for my own condition for the best CG suburbs ? This is also reflected in the newest Smart Property Investor magazine this week.

    Henry I would think you were being sarcastic but the last sentence about SPI magazine has me not sure.

    Profile photo of Henry AdamsHenry Adams
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    @henry-adams
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    Andrew_A wrote:
    Henry Adams wrote:
    Andrew_A wrote:
    This area is a minefield of marketeering, so need to do your research even more carefully than normal.

    Keep in mind one of the big concessions you accept sometimes with the new builds out here is the small block size, also I don't like developments with narrow streets and rows of houses that all look like each other, though if the numbers look good then it could stack up.

    LOL, is it ? I thought that the agent who works for me (JDL Strategies) has carefully select this property for my own condition for the best CG suburbs ? This is also reflected in the newest Smart Property Investor magazine this week.

    Henry I would think you were being sarcastic but the last sentence about SPI magazine has me not sure.

    you’re right Andrew somehow I am now thinking to invest in Lower NSW North Shore area for better future.

    Profile photo of lifestylezlifestylez
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    I would personally steer clear of the Gold Coast for now as it has not done much in the past few years.

    That's not to say coomera will not do well in the next 5 to 10 years, but it's not likely to gain much in value in the short term.

    If you can get a good yield (hopefully positive cash flow) and are happy to sit back and wait for the capital gains, then it might be a good area to invest.

    Some questions I would ask myself:

    – What is the projected population growth of coomera?
    – Since alot of the houses are in new developments, what impact would another land release have on values? (There is plenty of land capable of being developed in this region)
    – Who are my potential tenants?  Would they be working in Brisbane or Gold Coast CBDs?  Coomera is quite far from both these CBDs, although it could be argued that it is convenient to both CBDs :)
    – Are there much job opportunities in the local area?

    Darren

    Profile photo of SHoltzSHoltz
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    @sholtz
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    A close friend of mine bought a property in Upper Coomera in 2007 and has seen very minimal growth over the past 4 years or so.  She purchased it because she was told about all the massive infrastructure that was going to take place in Coomera area (near the train station)  ie Big Westfields etc  however none of this has happened as yet?

    Don't know much about North lakes so couldnt comment on that….

    Profile photo of CatalystCatalyst
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    Upper Coomera has been plugged by many property groups for the last 4 years. That is BECAUSE they build there and push them to clients. I know Positive Real Estate was pushing them (probably still are) a few years back.
    When looking at these places you have to consider that the people selling them have a vested interest in you buying there.

    How much are these places now? that rent for $400p/w?

    Moreover, you should not buy property for tax deductions. Tax deductions are the icing on the cake. They are NOT the cake.

    Profile photo of SiteManagerSiteManager
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    Upper Coomera has been plugged by many property groups for the last 4 years. That is BECAUSE they build there and push them to clients. I know Positive Real Estate was pushing them (probably still are) a few years back. When looking at these places you have to consider that the people selling them have a vested interest in you buying there.
    How much are these places now? that rent for $400p/w?
    Moreover, you should not buy property for tax deductions. Tax deductions are the icing on the cake. They are NOT the cake.

    Now COOMERA started to improve after this new big Westfield Mall development http://www.coronis.com.au/blog/a-decade-of-planning-sees-coomera-flourish

    Surely their research division can’t go wrong in selecting locations :-)

    SiteManager

    Investing for a better future

    Profile photo of SiteManagerSiteManager
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    @sitemanager
    Join Date: 2015
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    Hi there
    I’m new to this forum and looking for my first investment property. I’ve heard about the tax benefits of buying a new property but want to stay under $400 000. We’ve seen one that’s 5 – 6 years old, in Upper Coomera in our price range that we think is a great deal. (Radically reduced) Awesome location, bus, park, schools, shops and rental $400 pw.
    Any thoughts? I feel like a novice and would appreciate any advice.
    Thanks so much
    Ps: Is there a way to ‘watch’ topics and be notified of new posts on previous topics?

    Good news for you mate, Disneyland will be built in COOMERA area: http://www.news.com.au/travel/travel-ideas/family/new-billiondollar-theme-park-to-rival-dreamworld-to-be-built-by-chinese-developers/news-story/ec83e943b9fc3aae9c50d80689cc5850

    Once it is fully built, it will be a great Capital Gain booster to the property price in COOMERA and UPPER COOMERA area.

    SiteManager

    Investing for a better future

    Profile photo of BennyBenny
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    @benny
    Join Date: 2002
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    Hi SM,

    Once it is fully built, it will be a great Capital Gain booster to the property price in COOMERA and UPPER COOMERA area.

    If the new Disneyland employs 1000 people, it certainly wouldn’t hurt the values of properties in the area, and might even lift rents in the area a little too ….. unless China uses FIFO workers to man the attraction, in which case all bets are off !! :p

    Nah, I am kidding – but then, maybe if it were to need 10,000 people, that is exactly how they would play it. No wages for Aussies then, so no rental uplift from Aussies moving to where the new work is.

    I guess there could be a small uplift in sale of goods to the new attraction (especially foodstuffs). And I dont see a mass influx of people who just “want to live near the new Disneyland”.

    So, which way will it all pan out? Let’s wait and see,
    Benny

    Profile photo of SiteManagerSiteManager
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    @sitemanager
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    @benny yeah that’s what I was thinking, because COOMERA has been dormant and so far I heard good plans only this year.

    I must admit that COOMERA has been spruiked since 2011 and hopefully this time it is started to be come profitable.

    SiteManager

    Investing for a better future

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