mick64Participant@mick64Join Date: 2012Post Count: 45
Was hoping for others thoughts on investing in established units in Nundah as part of my SMSF?
Also what are your thoughts on Nundah in general
Thanks MickRichard TaylorParticipant@qlds007Join Date: 2003Post Count: 11,992
Personal opinion is that Nundah is a great suburb and an ideal area to consider a property for a SMSF.
I have done a couple of SMSF deals for forum clients who purchased in Buckland & York Street and the returns are steady and rentals in good demand. Certainly had no issues with the lenders we used on such secutities.
What a lot of investors don't realise is the key principle when you establish your SMSF is as Trustee you are responsible for ensuring that the fund provides retirement benefits to fund members.
I have reviewed many an investors Investment strategy within the Trust Deed and been concerned with some of the investment choices.
A slow steady vanilla investment such as well located residential property ticks all the right boxes.
As long as the SMSF loan is set up correctly i don't think you can go far wrong.
Yours in Financemick64Participant@mick64Join Date: 2012Post Count: 45
It looked to me to tick a lot of boxes but its always good to hear someone elses opinion!
I have sent you a PM regarding my smsf.
MickAndrew_AParticipant@andrew_aJoin Date: 2003Post Count: 392
It's a trendy area these days, I'm always meeting people at Nundah Village as it has a good range of coffee shops and restaurants. I quite like 'C Word' and the Coffee Club there as the owners always looking to talk about property Also if you would like a good laugh have a read of the online reviews for 'Jam cafe'. Impressive how Nundah has transformed over the last 20 years. Also I tend to view Nundah/Northgate as a potential package in that you might consider both.
Excellent improving area with train and will grow as a location strongly, no problem with that, the issue you need to work out is whether the higher density and incoming supply will be of significant impact on your target property. Chermside and other activity hubs have similar issues.
A few quick issues to watch for
> plenty of low lying land, check for flood/overland flow
> some busier roads cutting through the suburb
> high proportion of strata properties than many other suburbs in the 10k radius, 59% of total stock last time I checked, issue of supply again so important to check you are buying your apartment well and the rents/yields are checking out
> Some nice stand alone villa/townhouses come into play depending on your price pointsRPIParticipant@rpiJoin Date: 2012Post Count: 308
The Neighbourhood Plan really ramps up the density in some parts of Nundah. Don't rely on the zoning
Also, check out what is happening soon by looking at the City Plan 2012 maps
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