Forum Replies Created
Ed since the talk about u around is very convincing, i rang up your branch in melbourne and asked for a quote to do my coming end of yr tax return on my rental properties… the answer was $660… i think it is a bit too high compare to the market dont u think? my cousin's accountant expertised in rental properties and charges only $300 for individuals and $400 for companies.
You can't send the copy of the report as it is authorised viewing only (need purchase code).
However, there is one way to do it and it is by asking a kind fellow to type the contents out using Microsoft Words and send it to the rest. It can be done, great thought!
Let me suggests you some suburbs inner Melbourne that are good for investments…
Melbourne City
South Yarra
Southbank (1km around St Kilda Rd)
Docklands (wait for another 1 or 2 years)Units in these areas has potential to grow at 5%+/annum
Hi Milly,
I totally agree with you. Still, the safest bet is to stick with the old 10-15 kms from the CBD if you can afford the high negative gearing. Was proven to work and always will…
Hey Bardon, is that Residex report from March 2007 or September 2007?
Hi Tmillery, if the price of the new apartment exceeds 500 000 for a two-bedroom, I dont think it is a good buy at all. I live in an apartment just 100 metres from the corner of City rd and Clarendon st. The apartments in the area is way overpriced. There are a couple of brothels down the road which makes the street appeal undesirable.
What is all this bullshit about near the water stuff… I could not believe so many people are following that stereotype… Unless your house is near to a beautiful beach like gold coast or sunshine coast, your house is not much of value…
However, I would agree if you guys are talking about Strathpine area with suburbs such as Lawnton, Murrumba Downs or Griffin. With good proximity from the city, they are really a good bargain right now. Also, have a look at suburbs nearer to the CBD like Zillmere, Geebung, Aspley, Chermside, Chermside West and Stafford Heights. They have lots of room for growth as I noticed their neighbouring suburbs such as Kedron, Wavell Heights, Virginia, Northgate and Nundah had gone up the roof!
Cheers
Stafford Heights, Chermside West, Chermside & Aspley. If you can afford the high negative gearing.
Go for growth!
Kodage wrote:Hi Bardon /allI read your list with Interest a few weeks ago, and didnt do anything with it until I saw it again tonight. By total coincidence I have just signed a contract for a Brand new property in Sandstone Point! First House IP – I am hoping for the Capital Growth . I paid slightly more than a property in Bellmere ( Caboolture ) for similar rent, but it is still majorly negativley geared! ………………………….
If anyone has any tips on my next purchase on how to source new positive cash flow that would be great. It has not gone unconditional yet so please let me know your thoughts.
Does anybody have the calculator that all the Property Investing companies use ( allowing for depreciation, tax etc ) telling you what you out of pocket per week will be ?
With Many Thanks
Dear Katrina,
Although Residex report is popular among investors, I do not think they are as good as I was told. Residex reports from 2005 onwards, have not been any good at all. In early 2005 to mid 2006, they have been predicting excellent growth in Sydney, which of course did not happen. Worse still, they were predicting Brisbane house growth to be at around 5% per annum for 2005 to 2010, which in fact was totally wrong as Brisbane hit around 17% this year.
I must admit I am a total nerd in researching for suburbs with excellent growth around Australia. There is no doubt I would agree South East Queensland would the place to invest.
From the list provided by Brandon above, there are only a couple of them which I am truly believe will provide good growth. And, sorry to say Sandstone is not one of them.
I do agree that Brisbane outer North suburbs would provide excellent growth for the next 5 to 7 years. However, for the past 2 years, population growth in the Caboolture has slowed down. From recent reports from the ABS, I noticed the trend now is moving nearer to the CBD. You might want to have a look at Strathpine area which is also at outer North of Brisbane but within 18 to 25 kilometers from the CBD. Let us compare…
I believe for an average new 4 bedrooms, 2 bathrooms house built in Sandstone will cost around 370 000 – 500 000 depending on age, size of land and quality of the house. The rent would roughly be around 330 to 400 per week.
Compare it with Murrumba Downs (23,24 kms) and Griffin (22 kms). Both suburbs are side by side and has almost the same median prices and rent yields. The houses in the area are roughly 2-8 years old. Median price for 4 bedrooms, 2 bathrooms houses in the area is 370 000. The rent yields are outstanding, between 340 and 420 per week. Due to great influx of demand in the area, the rent is set to rise significantly in near future.
If you love to buy off the plan to save stamp duty and/or have your own design for the house, you might want to have a look at suburbs like Warner and North Lakes. Recently, I received brochures of new land being released in those suburbs. You can have a look at http://www.realestate.com.au under New Land Estates section and search for those suburbs. They are in Strathpine area as well.
My 5 best recommendations for growth in South East Queensland:
Chermside West
Herston
Murrumba Downs/Griffin
Inala
Coomera/Upper Coomera/OxenfordGo for growth as it is the best way to get leverage for your next property quicker!!!
All the best for your investment.
Regards,
Guan
