Hi, everybody:
I am looking to buy an established apartment/unit in inner brisbane for investment. Looking for capital gain though I would prefer a little negative geared or neutral geared. One bed apartment more than 65m2 or 2bed apartment more than 80m2. Prefer apartment/unit with room to do cosmetic renovation to increase the equity.
I have been to Annerley/Greenslopes before. Not sure at this moment which other suburb in inner brisbane provide opportunity or potential. I could afford to spend 200k high or early 300K. Really appreciate someone being familiar in inner brisbane could give me some tips.
thanks in advance
For early 300's then I think entry level 2+1(or 2)+1 older units in good blocks and locations in this 5-6k from the CBD range and very run down condition would be good targets. Idea being you cosmetically renovate to add value and yield, perhaps look for a twist such as fully furnished if you need higher rents.
Andrew_A wrote:For early 300's then I think entry level 2+1(or 2)+1 older units in good blocks and locations in this 5-6k from the CBD range and very run down condition would be good targets. Idea being you cosmetically renovate to add value and yield, perhaps look for a twist such as fully furnished if you need higher rents.Andrew:
thanks for your reply. May I know the meaning of 2+1(or 2)+1 ?
I heard old units are normally bigger in size and have low body coorporate fee. By renovation, this could give some equity. Which are prefered ( units or houses ) by owner-occupier or tenants in these suburbs at this moment?
thanks
2 bedroom, 1 bath, 1 garage.
No easy answer to what people prefer, would need to narrow that question down a little. 'Depends' would be a good answer I think. If you are thinking of renovating then it would be a good idea to connect with people who do that, the Brisbane property networking group might be a good place to start.
Andrew_A wrote:locations in this 5-6k from the CBD range and very run down condition would be good targets. Idea being you cosmetically renovate to add value and yield,Have to agree with Andrew. … Sticking in that 5 km radius.
Im doing a development within the Greenslopes – Coorparoo area and nothing wrong with your choice of suburbs especially with the new busway corridor under construction and Stones Corner inevitably getting a well-deserved face lift one would hope rippling from the activity in Woolloongabba which raises the question on how long you propose to hold the property.
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