Forums / Property Investing / Help Needed! / Brisbane Suburbs to renovate and make a profit???

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  • Profile photo of ShaninaShanina
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    @shanina
    Join Date: 2011
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    My husband and I currently buy properties and renovate them on the gold Coast. We are considering moving to Brisbane and doing the same thing but don’t know which areas to even begin to look at! Can anyone suggest which areas to begin to look at to buy renovate and sell? appreciate any feedback!

    Profile photo of Scott No MatesScott No Mates
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    Join Date: 2005
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    Brisbane is a reasonably diverse place. I could recommend Hawthorne, Paddington or Bullimba but your budget is Inala. A few bones to go on?

    Profile photo of Jamie MooreJamie Moore
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    Shanina wrote:
    My husband and I currently buy properties and renovate them on the gold Coast. We are considering moving to Brisbane and doing the same thing but don't know which areas to even begin to look at! Can anyone suggest which areas to begin to look at to buy renovate and sell? appreciate any feedback!

    Andrew Allen is an excellent BA up there and posts regularly on this forum. He might be have some suggestions.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Andrew_AAndrew_A
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    Jamie M wrote:
    Shanina wrote:
    My husband and I currently buy properties and renovate them on the gold Coast. We are considering moving to Brisbane and doing the same thing but don't know which areas to even begin to look at! Can anyone suggest which areas to begin to look at to buy renovate and sell? appreciate any feedback!

    Andrew Allen is an excellent BA up there and posts regularly on this forum. He might be have some suggestions.

    Cheers

    Jamie

    Thanks Jamie :)

    I suggest networking with groups of investors and renovators to begin with, there are a few groups like this around and it's all a fun, inexpensive and low risk way to pick up ideas about the possibilities in the present market. These groups are mostly about investors helping each other as opposed to someone just trying to sell you something.

    Profile photo of beediebeedie
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    Scott No Mates wrote:
    Brisbane is a reasonably diverse place. I could recommend Hawthorne, Paddington or Bullimba but your budget is Inala. A few bones to go on?

    LOL @ but your budget is Inala… Good advise from Scott… start/ stay inner city

    Profile photo of lifestylezlifestylez
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    @lifestylez
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    If you've got a renovating forumla that works and makes you profit, just try replicating that in Brisbane.  For example, do you renovate apartments for young professionals?  Do you renovate houses for families?  Do you renovate luxury houses for executives? What type of properties are making you the good returns?

    Obviously we are in a down market, and it could be a challenge to not over-capitalise.  I doubt there would be much money in renovating cheaper first home buyers places because these buyers usually have a strict limit on how much they can spend.  On the other hand, upgraders and high income earners are more likely to compete for that well finished property and pay more than is required to get what they are looking for.

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
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    I would echo the fact that Andrew is a local boy and knows his stuff.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
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    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Property TraderProperty Trader
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    Hello Shanina,

    There are a couple meet-up groups related to property that both Paul Derry and Matt Jones run here up in Brisbane and on the Gold Coast. You might wanted to network some of the members online as you can have their profile and see which ones renovating Brisbane.

    Matt Jones …
    http://www.meetup.com/BrisbanePropertyGroup/
    http://www.meetup.com/GoldCoastPropertyGroup/

    Paul Derry …
    http://www.meetup.com/BrisbaneInvestors/

    We renovate properties in the Brisbane region and currently this year we have done a few in Bald Hills, Redbank Plains, Wishart, Inala and Kingston. In another one of our businesses (Great Property Deals) we provided a renovator with a house at Kingston for $165,000, which they are going to renovate it and then rented out for about $310-$320 per week.

    You can also jump on the Cherie Barber website as she now is a forum to see if anybody from Brisbane can answer your questions as well.

    Hope this helps.

    Regards,

    Jason Moore

    Property Trader | Boston West Pty Ltd
    http://bostonwest.com.au
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    Private money lending opportunities available paying upto 12%, secured by bricks and mortar!

    Profile photo of RPIRPI
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    Second that

    Andrew is outstanding

    D

    RPI | Certus Legal Group / PRO Town Planners
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    Profile photo of Ichiban33Ichiban33
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    Hi Guys,

    Does anyone have any experience with 'splitter' blocks in Brissy?

    A mate was harping on about doing one in brissy and making good profit in the subdivision.

    Profile photo of RPIRPI
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    @rpi
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    Hi I

    I have done DA's for 3 this week.

    Another I put in just before Christmas in Holland Park was sold off the plan, 1 lot on the first day, 2nd lot on the 2nd day.  No approval yet and crappy old house still sitting on the block.  $329 a lot taken at listing price, no views, nothing special about the blocks, in a Cav Rd High Catchement which is one of the best public Highschools in Brisbane.

    Some of my clients only split build and sell.  1 who has been doing it the longest does nice houses, costs him 525K a house to build each house, plus the land and splitting costs.  He has managed to get int the 1.1 -1.2 million a house for the last 2 of them, 1 in Greenslopes/ Coorparoo border, one in Camp Hill

    It can be done, definitely.

    regards 

    D

    RPI | Certus Legal Group / PRO Town Planners
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    Property Lawyer & Town Planner

    Profile photo of BuiltByThomasBuiltByThomas
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    Ichiban33 wrote:
    Hi Guys,

    Does anyone have any experience with 'splitter' blocks in Brissy?

    A mate was harping on about doing one in brissy and making good profit in the subdivision.

    Hi Ichiban33,

    When developing splitter blocks in Brisbane there is a lot of things you need to consider.

    Below is the process I go through to determine if the project is viable when slitting a block for Building on splitter blocks in Brisbane development.

    After identifying the block, I check the demolition control Precinct (DCP) if the house is built pre 1946 and if the block is on the flood map or any overland flow issues.

    I then get the dimensions and run the costing of the project.

    The things I look in a splitter block are:

    • Cost of the site
    • Demolition approval
    • Demolition costs
    • Services off (sewer and water)
    • Location of services on the block
    • Any other associated development costs
    • Transfer and Legal costs
    • Subdivision costs – Civil design, Town planning, public notices, council fees and any council contributions.
    • Building construction costs
    • Associated site costs (levelling and retaining)
    • Marketing on the finish product

    If all the figures add up to a profitable project….an educated decision can be made.

    Thanking You


    Built By Thomas

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