Is Logan a nice area to invest?
I can’t find much information from
internet.thanks,
If you are a cashed up Sydney investor looking for capital gains. Stay away from logan and the Gold Coast, I think.
Stick to the fundamentals of capital gain, quality property in close proximity (5 ks) to the capital city.
Brisbane has some awesome suberbs with beautiful ‘Queenslander’ houses which may not be positively geared but probably will double in value every 7-10 years, despite what the guru Steve says.
Stick to inner city suberbs close to Brisbane river. Suberbs like Chelmer, Graceville and even Sherwood are real gems, real class. Then there are suberbs close to the University of Queensland like St Lucia, Caseldine. There are more as well.
Sure, this real estate is already rich but its for pretty good reason. If I had a bit more cash, I’d be heading straight to Chelmer, but then again, I’m not a cashed up Sydneysider
Hi.. First time poster.
My husband and I have jsut returned from trip to Brisb and surrounds and have found that even as Sydneysiders (not cashed up) we are priced right out of the 10km radius market.
We looked at Logan City for a negatively geared property (had not read Steve’s book at the time). I think it has potential for positive geared property. Lots of shops, nice streets, schools, etc.
We ended up buying in Thorneside (sth-east of Brisb) as this was a bayside suburb with a train line into town. No positive cashflow at present but anticiapation of capital growth over the long term.
If Brisbane follows Sydney’s lead (and it appears that it is) it is only a matter of time before property prices are unaffordable – even in Logan City.
Remined me of Liverpool (Syd) 10 years ago.Hope this helps
MaryThanks Harold and Mary.
Mary, I found the median price
for Thorneside is not cheap now, more
expensive than Logan.Redlilia,
I went to Logan in March 2003 and June 2003 and bought some their. The price in Logan is going up everyday. Back then I bought +ve gear IPs, but now it is nearly impossible to find +ve IPs in the area.
I am Disagreed with Harold coz I would make money right now if I sale my property that I bought back in March 2003. Therefore, it it plenty of Capital growth their.
Kind regards
Chandara
[Keep going, you’re nearly reach the end of financial freedom]Hi Redlilia
Yeah I know! But we purchased a 3 bedroom townhouse and they are not as expensive as houses.
I don’t think you can apply the 11 second rule in this suburb, but I think there may be a few surrounding suburbs where you might be able to make a positive investment if you are lucky.
I think now, as Brisbane becomes more unaffordable, people are looking to the outter rings of the city for places to live.
From what we could tell, Brisbane and surrounds has a pretty good infrastructure and people don’t mind travelling to work – plus roads are better than here in Sydney (heard that it takes 45 mins from Gold Coast to Brisbane).
Hope this helps.
Talking about the Logan area in Brisbane, I bought my first home there 7 years ago and paid $110,000 had to move for work 4 years later and sold for $98,000. (crestmead was suburb) looking on the internet prices are around $140,000 – $180,000. Just watch the areas though there are a lot of commission area’s there and not far from Woodridge (not a good place when i was there) I now live on the northside at Mango Hill, (between kallangur and redcliffe peninsula) 3 years ago we paid $160,000 for a brand new 25 sq house which we could now sell for $300,000. capital growth seems to be good here, but i do agree that its hard/impossible to find a possitive geared property in any suburbs of any major city.
GOOD LUCK TO EVERYONE, I AM ENJOYING READING THIS FORUM.
LEEANNE MASON
I spent 10yrs of my child/teen life living in Logan. Bought my first house in Hillcrest for $95K new house and land package – it did nothing for 9 years. Last year could have purchased it for 120K – this year selling for the 170K range. You decide … rents back then were 150/wk as against around 180/wk now ….
I now live in Chelmer – also mentioned in this discussion string – paid 175K for a tired old post war chamfer board home on 16perches. 18months later its worth nearly 400K. Depending on what you purchase in Chelmer area, my opinion is that it has had its big boom growth time and that you could do better today in other suburbs.
Not that I am complaining about living in one of bris vegas’ top 10 growth suburbs!!!!! (according to one property report)
LRNumber one… I have seen the prices in logan ion 16 months go from one example of a townhouse selling for $25,000.. Yes Hard to believe I know but thats what it was.. I went looking recently for properties around there and I saw that same town house with a new paint job thats all selling for $120,000…
Is that crazy or what???Same as 2 of our places that we bought in beenliegh, one suburb over.. We bought them for 47k and 50k each and those same properties are now worth $100k +.
A friend of ours just sold his 3 months ago that he had, in our same comlex. Identical layout, in a worse position than ours for $98k.
So my conclusion is that in Logan it has gone stupid.. But in Beenliegh your still going to find growth properties..
And BTW. I have also found that the Jenman guys are the worst people to deal with for buyers and I can guarantee that I won’t ever be buying through them.
cheers
Calron the Alcamist
Turning things into gold is fun.
[email protected][
]hi calron
why? re:jenman guys
regards
alfI was driving through Marsden yesterday, looking at some pretty small homes, thinking that these would have to be reasonably affordable, so I dropped into the local RE office to ask about investment properties. He offered me a few for $170,000 @170 pw rent. I said “I was actually after some properties at the bottom end of the spectrum”. His reply: “That IS the bottom end of the spectrum”. “Strewth!” I said to myself and back-pedalled out of there real fast.
I’ve just stared looking at bank shares. They pay about 5% dividend (fully franked, ie 7.14% grossed up) so perhaps that’s where I should be using my IP equity!
JimHe who hesitates is sometimes saved!…Thurber.
hi calronwhy? re:jenman guys
regards
alfHmm ok..This is just my experience from 3 “Jenman” Guy’s..
Number one thier referral to other “REIQ” agents as being sharks and unethical really started to get on my goat when they repeated comments like this every other sentence..
Coming out with the statement “We only work for the Buyers interest” also deadened my desire to deal with these guy’s..
The thing that really got me ryled was the fact that theye told me how the other “RE” agents pull the wool over peoples eyes through their use of Auctions.. They all then, when I had come to a desision to put an offer on the table for a property said, Ok, “we will take your offer and present it along will all the other offers that we get this weekend..”.
WHAT????
That is tantamount to a secret Auction if ever I saw one.. But worse, there is no negotiation allowed.Why is this bad?It is that when I buy a property from an REIQ agent, I get the privelage at least for that agent to fill out a contract which the agent takes to the vendor as soon as possible.
Jenman I find is the pot calling the kettle black. Blatantly unethical for the buyer thats for sure..
Cheers
Calron the Alcamist
Turning things into gold is fun.
[email protected][]re Jenman
About 6 months back I looked into a career in Real Estate. Saw an ad in local paper, a local agent offering positions paying $52k a year. I applied, and was mailed back a Jenman course leaflet. They wanted me to do a 3 month course, after which time I might be offered a position. Whats funny though, is that this same agent has had the same ad running for 6 months now. Which means they never filled a position in their agency, so they were simply marketing this course!
FRIGGIN SCUMBAGS!
Well i agree, i certainly wouldn’t approach the Jenman group to purchase a ppty, although on the other hand i possibly would consider them to use them to sell a property, if i ever do sell….If you’ve read Neil Jenman’s book “Don’t sign anything” it states exactly what philosphy these guys work on and what your the other real estate agencies do. I guess it is important to be aware of the system and use it to your advantage.
Learner
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Hi E-e-ideas,
Where can I find Neil Jenmans book. This sounds like interesting reading. I am an ex RE agent and I really loved working in the industry but found it hard to work ethically with some agents.
Many of the statements made about Jenman agents sound very familiar. Although I must be a bit niave because I had never heard of them before.
Kym[
]Kaydee,
You should be able to find it in your local Dymocks store, i actually seen it on their shelf the other day when i looking for a book on trusts. The book is title “Don’t sign anything” by Neil Jenman, it is certainly a good read and makes the unaware aware and what different tactics are available to real estate agents across the whole board whether related to the Jenman group or not. Enjoy the read
N-e-ideas
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