Our investment is in New Farm (not actually inner inner city but close enough). New Farm is across the river from the CBD (West).
It is a 2 bed/2 bath with balcony and underground c/p in a small 3 level security complex (40 units) with a pool in the middle. It is 5 minutes walk to the ferry and the bus stops virtually outside.
It cost us $230,000 in 2001 and we got $250 rent. Because it was new we were able to depreciate everything and so it did not cost us much ($10 a week). We now get $270 a week (cf neutral).
Our previous agent was sending us statements saying she had deposited the rent into our account but for the last three months did not. When we discovered it, it took us some stern letters to her, the threat of legal action, and bringing in the QLD dept of Fair Trading to get our money back.
The new agent who is fantastic is Prime Property.
Barbara Mules is the contact and her numbers are 07 3377 4888 or 0411 966 655. They have done two property inspections in six months without even us asking. They are based in Toowong (just outside the CBD) but will definately do inner city for you.
Good luck with them.
BTW, trusts are good but not if you only have a few IP’s. You have to pay Land Tax from the very first dollar if you have bought through a trust. If you buy as an individual you have a threshold of $275,997 (land value of course)
If you would like the land tax and stamp duty rates for all states I would be happy to email them to you. I have them in a spreadsheet
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