Brisbane Real estate

[Grunt]

Hi All

I am considering getting into the Brisbane real estate market and buying an apartment. I have a friend who is one of those brokers who sells completed units and duplexes around Australia with tenants signed up.

We were emailed one last night in Springwood. What is that area like, I see that is on the other side of the highway from Logan.

It is getting $390/week for a 1 bedroom apartment. Is the market there for these numbers or will it die out and I will be left with something I cant get a tenant into after the 1st lease is up?

Hit me with your opinions.

[Ned]

Calling "The Champ"!

[PeteyD]

Wouldnt buy a 1 bedder myself.

[Lucasto23]

Stay the heck away!!! 1 bed is poo for starters and we are gonna have the biggest glut in cbd inner city apartments mate for the next 18-24 months.

[Lucasto23]

Now can we sell you a unit ;)

[Grunt]

Stay the heck away!!! 1 bed is poo for starters and we are gonna have the biggest glut in cbd inner city apartments mate for the next 18-24 months.

Thanks Mate, I thought as much but was not 100%

[benno_r]

Now can we sell you a unit ;)
Al bought him in the Calcutta... [emoji3]

[Lucasto23]

Thanks Mate, I thought as much but was not 100% The only upside in that setup if there is a heck of a discount off plan and an amazing depreciation schedule for negative gearing but capital growth will be poo. If you pm me details and email can send you generic sales data for the area ;)

[markTHEblake]

I have a friend who is one of those brokers who sells completed units and duplexes around Australia with tenants signed up.
The best advice I can give, is to listen to everything your friend says and do the opposite.

Personally I wouldnt trust anyone who sells investment properties to interstate and overseas punters. In SEQ and particularly gold coast thats one of the biggest rip off schemes anywhere.
If you want to buy an investment property here, come up and have a look around yourself. Plenty on www.realestate.com.au

[goughy]

Look in 'woomba mate! If it's like it was a few years ago the unoccupied rental rate was in the low single percents.

[goughy]

Oh, and all I know about realestate is I live in a house, and a bank owns it!

[PerryGroves]

Grunt, Brisbane is in QLD, out perform in downs, underperform in ups. Buy what you know, LA.

[Grunt]

Grunt, Brisbane is in QLD, out perform in downs, underperform in ups. Buy what you know, LA.

Dont laugh it was considered, just the legals to buy over there cost more than the sales.

[damoocow]

Blakey is right. Also I find it amazing that a 1 bedder in Springwood would get anywhere near 390 - a quick search on Domain or Realestate.com will soon tell you.

[3oneday]

I think you went in the wrong direction, look south.

[Daves]

Blakey is right. Also I find it amazing that a 1 bedder in Springwood would get anywhere near 390 - a quick search on Domain or Realestate.com will soon tell you.

Correct, would need to be at least 2/3 bedder and well located to get that sort of money. Add longer leases, which are typical of 2 Tier market properties and $390 just ain't reality. And 1 bedders are to be totally avoided. You can get away with them in Sydney or NY, not in Brissy. Springwood is a good location these days, but has a history of 2 tier market developments in the past. Rental guarantees are a warning sign for me. Normal developments don't feature them so much. They are how they inflate the asking prices, along with overly expensive furniture packages.

http://www.jenman.com.au/news_article.php?id=42

[damoocow]

Disagree with avoiding 1 bedders. Sometimes it can be the only way to get into the market. Depends on the area they are located in also - in a high rental area with lots of new stock, a cheaper 1 bedder will always be in demand.

[3Puttpete]

390 was the going rate about 12 months ago for a 2 bedroom flat in coorparoo

[markTHEblake]

Grant, what's they purchase price for this $390pw shoebox?

[Grunt]

Grant, what's they purchase price for this $390pw shoebox?

$265,900

[markTHEblake]

If thats the case Buy 10!
Because that's a huge rent yield you won't get anywhere else.

P..s. One of those sentences is sarcasm.

[Moe Norman]

Get a new friend.

Absolute crook