Anyone have advice on the best suburbs in and around Brisbane to invest in? I am looking to spend approximately $300k or less on purchase then renovate and either sell immediately or rent for 6 to 12 months then sell. Could anybody please advise me on the best suburbs to do this in?
Thank you.
Hi Matt
Is that for a unit?
RPI | Certus Legal Group / PRO Town Planners
http://www.certuslegal.com.au
Email Me | Phone MeProperty Lawyer & Town Planner
I will consider either a unit or house but preferably a house. Will be looking to buy at the back end of this year if that makes a difference.
Ok. I do not see any houses around Brisbane for $300k. Ipswich or Logan yes there are plenty.
RPI | Certus Legal Group / PRO Town Planners
http://www.certuslegal.com.au
Email Me | Phone MeProperty Lawyer & Town Planner
I am considering Ipswich as i lived there for 6 years. Although there are many "markets within markets" in ipswich, some good and bad areas so I may need to do some research
Hi,
Serviceseeking(dot)com(dot)au presents the Eastern side of Brisbane as offering the highest revenue potential in terms of buying property and then renovating it for investment purposes. It is closely followed by the Southern side. Suburbs located 3 km to 10 km away from Brisbane’s CBD are a smart investment choice, recording increased buyer activity, with property values going up. Before you decide where to make your purchase, research the level of price disparities within a suburb, buyer demand, and the area’s economic drivers.
Cheers,
Emil
Thanks for the advice. I grew up on the east side of brisbane so I may have an advantage in that area. I am exploring a few different options at the moment and your advice is definitely appreciated
Come on, doesnt anyone here have a Crystal Ball?
Matt 300k for these areas I think if you had a partner it would be great and possibly easier to pull off successfully. If its one of your first reno's remember learning through the process can be more important than success it self. Go for it mate.
Adrian Cahill | AdrianCahill.com Personal Development Expert
http://adriancahill.com/from-investor-to-coach/
Email Me | Phone MeHere since 2002, however things have evolved over the years.
adriannqld wrote:Come on, doesnt anyone here have a Crystal Ball?haha would make this property investing thing a little easier eh?
Brisbane looks attractive being the bottom of the market atm. I don't have a partner mate so will get a female friend to pick colours for me maybe . .
Although thinking about Chinchilla/Miles region, lots of work still up that way. Still quite a bit of research to do before I take the plunge . .
Sorry guys i have 1 or 2 properties in the Brisbane area and as Darryl mentioned for 300K you will be lucky to buy a garden shed let alone a decent IP 5-6 km's from the City.
We struggle to source properties in that price range for our clients anywhere with the exception of the South & North of the City.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Chinchilla/Miles are very expensive if you want to buy new but not sure about second hand stuff.
You'd have to go out a fair way from Brisbane CBD (ie more than 15 km) if you to buy a house for $300K. You may be able to get a unit but even then you will struggling unless you go a fair way out.
Thanks for the input guys it has been helpful. While Brisbane is on the rise again I think it's best to wait until I can get in at a higher end of the market. I have also lived in Ipswich for 6 years and some are advising me to look there to get in cheap. I just can't see ipswich being the performer it claims to be. It has some benefits but think my hard earned dollars can be spent elsewhere.
I have received information about turn key house and land packages in Chinchilla area today. They seem attractive for a number of reasons.
For around about $340k (turn key build and land) i can build a new duplex that will rent from 500-650 pw (i am being conservative) being cashflow positive.
As to my understanding I would only have to pay stamp duty on the land (about $2000) whereas stamp duty on a $300k existing home would be around the $8000 mark (already save $6000 up front)
There is talk of the company selling the packages securing our returns at 8% for 2 years on the product we purchase. If this trend continued I have an option of selling after 2 years and repeating.
Basically i would get a brand new dwelling worth $340k to build (may even be worth more after valuation) for a cheaper price than it would to buy an existing house worth $300k, id then have to renovate to get some sort of benefit from it.
I am based in muswellbrook so one trip to the area to look around and sign paperwork is the only trip i have to make, from then its in their capable hands. I had first thought of renovating but the logistics are concerning.
There are a very small amount of houses for rent in chinchilla, and it is still a well established suburb in the surat basin hub.
Work in the area is still increasing due to the pipeline.
It would only take 7 years to pay off with my savings used as an offset.
I believe this ticks all the boxes and is a smarter investment than brisbane which I first thought of, being that its the bottom of the market now.
Im not rushing into this however, i still need to exercise some more dilligence before i commit, the numbers and facets of the deal seem to stack up.
I am open to any thoughts/opinions
You must be logged in to reply to this topic. If you don't have an account, you can register here.
