Hi everyone,
I was wondering if anyone has any experience in investing in the Logan area of Brisbane. It is the one area that stands out to me as ideal for +ve cashflow in Brisbane. However, I have read some negative comments on other forums, equating the area to say Mt Druitt in Sydney, hence I wonder at the quality of tenant you would attract. Am I being a big snob?
My sister lived and worked at Shailer Park many years ago, and Loganholme Hyderdrome was closeby. She loved it, and I didn’t get a nasty feel about the area at all. Maybe it has gone downhill since then…
We are planning a trip to the GC in about a month, so I thought this areas could be worth investigating. Any thoughts anyone?
Thanks in advance,
AllyJudge it for yourself, not on what others say. If you get a bad feeling, then rely on that. Otherwise, there is always someone ready to rain on your parade!!!!
]Hi Ally
I did go the Logan area a few month ago.
Actually, Money magazine recommened the Woodridge area a few months ago. Woodridge is only a few Kms from Logan. The magazine said, the prop prices are very low in that area and infrastructure is very good. I was thinkg of buying there. But I did not have time to do the research either.I surfed thru the net and found some props in that area
Price : 115K
Rent : 180$/week
Rates : 1300$ annum
Levy : 2000$ annumNet Yield: 4.5% annum
Net yeild is not very attractive. But it is located in the Capital city.
[
]111111
Hi Allyman…
“Money magazine recommend the Woodridge area a few months ago”
Remember when you see things in the papers and mag’s you can be sure that the boat has left.
We have multiple properties in Logan and as yet “touch wood” have not had any trouble. Our friends have properties in Logan also, between us we would have 35+. They also have not had any major troubles.
With Logan like most places has risen in value. 3 to 4 years ago the real-estate agents couldn’t give property away….the stigma of the area etc.
55k to 65k properties were every, that’s all over, their 100k + now….but of course their are still bargains to be had, but if your not on the ground looking you will never get them as they get snapped up be fore they go to market..
Still at 100k + they still represent good value, because of the infer structure of the area and proximity to the city it self.
On the down side at 100k they general will not be positive.
“Dreams come true, if we have the courage to chase them”
Ross
Would you know the rental vacancy rate in Woodridge/Logan area ?
[
]111111
Thanks guys for your input. I am attracted to Logan because of the infrastructure and the positioning of it, between Brisbane and Gold Coast. Plus it is a capital city. I think I would feel more comfortable investing in a capital city, even if it wasn’t a fantastic yield, because I feel more sure of capital growth. I suppose each to their own, but I just can’t warm to the country towns idea.
I also believe that if you have already read about it, or heard about it you are probably too late. I think I will investigate the area more.
Thanks
AllyHi all. It must be a good area because Steve Mc Knight has some properties there. After reading that he had property there i checked out the prices in the area and it is definetly cheap in comparison to surrounding suburbs. I have been meaning to look up growth rates in the area but haven’t had a chance.
Cheers
111111,
I would like to know the vacancy ate in Logan.[?]
MJKMJK
Sorry about the delay, we were busy yesterday having our second child.
In our experience of Logan we have had close to 0% vacancy rate.
All properties have been purchased with existing tenants bar one, which was rented before we finished renovating it.
I posed this question to our friends, who on the whole have had the same experiences.
If you have the right team you will get good results.
But remember that passed performance doesn’t dictate future performance.
Just ring a few of the estate agents in the area and see what they have to say. Or try any one of the Internet sights that have that info…eg. http://www.homepriceguide.com.au
Oh, we had a healthy bouncing boy…[
]Ross.
Woohoo!! a baby boy, congratulations to you and partner. [:0)]
Keep smiling
FelicityLogan……. Hmmm……Strange name for a suburb!!
There are those that LET it happen, and there are those that MAKE it happen!!
Hi Stretch,
“Low-gain……. Hmmm……Strange name for a suburb!!”I’d prefer to focus on the road in to Logan from the M1…..Paradise Road…..even stranger….
Ross.
“Beaten paths are for beaten Men”
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