Hi Ben,

From my experience, the best property deals do not hit the market and are not advertised as these are usually bought through a private sale direct with the vendor via word-of-mouth. If you are going to  buy through a real estate agent, it is a numbers game and you might need to put in a number of offers and be prepared to walk away if they do not
meet your price point. We have been buying properties for 12 years and we have always bought on the proviso that you make money when you buy and that is why we buy extremely well.  http://www.onthehouse.com.au as you mentioned is a great free resource that gives you heaps of information on properties that are currently on the market.

In what geographical area are you considering purchasing your investment property?

All the best in your endeavours to buy a great investment property.

Sherry

Hi Carl,

From my own personal experience, we have submitted offers to buy houses in the same manner as yourself with "XYZ Pty Ltd as trustee". During the conveyancing process in Queensland, the financial institutions have normally asked us initially for a copy of our original trust deed upon which they then issue an instrument number.

Under no special conditions that we place our letters of offer. It usually doesn't faze a real estate agent whether you buy it in your personal name or through a trust.

Sherry

Hi Karen,

I would ask about 3 of the local real estate agents in the area what potential buyers are looking for. Although you are not selling immediately you will need to sell it somewhere down the track. Likewise, you might be quite surprised at the feedback they give you in relation to the bathroom configuration or maybe other ideas with what you can do with the bathroom space.

Sherry Ortiz

Hi ccpat,

We have a number of property related businesses and have been operating for the past 12 years in the Brisbane area. Out of the hundred plus properties that we have acquired, at least 60% of those have been in the Logan area.

1.      You asked the question why is there the perception that most people are fleeing the area and that most the properties are being sold by investors. (a) My personal opinion and what I hear around the traps is that people are selling their investment properties in an effort to reduce their debt exposure. (b) You might find that the majority of investors in Logan area own more than one investment property.  (c)  Also I have experienced where in an attempt to reduce an investors debt load they will put all their properties on the market to sell (up to 4 in sum case) and when they have sold the required number of properties they will then take the remainder of the market. Therefore, in effect over flooding the market with rental properties.  (d) Logan Central is a high rental area, so you also need to take that into consideration as well.

2.      Bluegrass was correct in saying that marketeers sold properties for inflated prices a number of years ago, but I will put that into some context and share with you how that came about as it only happened to a small proportion of properties in those suburbs (new houses) and not to the majority (which consists of existing homes). 

This event was mainly triggered by the New South Wales government back 4 to 6 years ago introducing double stamp duty in New South Wales (you paid stamp duty when you purchased and also paid stamp duty when you sell).  For a period of time this bought Southern investors up to the Logan area in quite large numbers to buy house and land package investments. It was amazing at the time to see suburbs seem to grow in the number of houses by 8% – 10% in a very, very short timeframe. 
 

When we enquired about these new properties, the local tradesmen said they would not be interested in the price or the quality of the product and they definitely not wrong there. The comments were basically "These are priced Southern investors", "what they don't see, they don't know" and "these houses have been slapped up as fast as we can with the bare minimum concrete and timber".  This mini boom on new house and land investment packages first with the New South Wales government pulled the double stamp duty legislation.  The suburbs with is mainly occurred were Crestmead, Marsden, Waterford West, Logan Reserve, Browns Plains and I think Regents Park to a lesser extent.
 

3.       From my experience at the moment and probably what you've seen as well is that it might be a better option to purchase an existing home than build a new one.  
 

In the past I've found from my experience that when the government have boosted the first home owners grant for new homes (it has happened twice) the price of land and the price of building a house have magically gone up and the net effect is that you are paying more for the house with the grant boost than you were previously due to mainly supply and demand.  With existing homes what you see today is what you're buying today and you are getting the houses for a good price compared to what they were selling for two years ago. A Logan example, what you would have paid $290,000 for three years ago you can pick up for $235,000 now with a bit of bargaining involved.
 

4.       As I said earlier we purchase all over Brisbane and for the style of home be in Logan the rent returns are fantastic. When comparing some rental properties our house in Ipswich rents for $275 a week, one in Caboolture rents for $285 a week and a one in Logan rents for $310 a week.
 

5.      In Logan, I always found a good demographic mix of people and not reliant on a couple of industries to survive.  Also the Logan area this entry located not only to Brisbane and the Gold Coast but also to switch as well and it has got good infrastructure on the road systems.
 

I hope this helps, if you any questions feel free to shoot us an e-mail.

Hi there,

I am in the renovation game in Brisbane, Queensland myself with one of my other businesses that i own and do around 8 to 10 a year of average and employ tradesmen to do the work for me … http://www.bostonwest.com.au …. and would be really interested in talking to you further about your idea. shot me an email as well on the email details below.

Ha Mark,

If you're interested in vendor finance or want to get started on vendor finance and talk to a mate of mine Paul Dobson as he is very very knowledgeable on the subject and is just a down to earth nice guy who would be willing to help out or answer any questions you might have.

Jump over to creative Forum on this website and check out the posts that he has done or better still just give them a call. I have given you his contact details below:

Paul Dobson – Vendor Financier – http://www.negative2positive.com.au  |  Ph: 0447 973 235  |  http://www.jvpropertypartners.com.au  |  http://www.vendorfinanceinstitute.com.au

all the best in the property adventures.