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  • Profile photo of seankseank
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    @seank
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    sorry to say Geoff, but  paying 183k for a 155p/week return in a regional town is very poor,  the potential buying has a negative geared property in a town with little prospect of capital growth , no offence but i'd rather park my money in a ING account.
    what is worse is that the property has been on the market for so long.
     In my street a similar thing happened someone listed a property for a stupid price (about 100k) over market value, when I heard the price I hung up on the real estate agent, no potential buyer will even try and negotitae. What happened if someone offered you 80k?? I think you would be quite offended and close all negotiations??
    Anyway the property is still for sale 1 year later on at a reduced price…guess no-one wants to deal with the seller?

    Profile photo of seankseank
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    hi,

    I'm also thinking seriously about this area – redbank,goodna,redbank plains,collingwood park.

    You can still pick up a decent brick home for under 350k closer to 300k if you are lucky , which is not bad considering they're about 20-25 k's from the cbd.

    Whilst being a local I'm not sure about collingwood park, correct me if i'm wrong but thats where Amzdesigns may be referring to in regards to many new houses forcing prices down,??? there seems to be many advertised in the mid 300 range.

    Also a critical question I ask if anyone can help , which suburbs will benifit from the proposed motorway upgrade/ bypass, and which suburbs may lose value???

    any help appreciated

    Profile photo of seankseank
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    Go Foundation… Well said!!!!!!

    Profile photo of seankseank
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    Hi Foundation,

    I respect your privacy.

    My proposition is that house price movements are driven primarily by debt

    So don't you think there are any other factors which influence prices eg.
    1. supply and demand
    2 .Immigration
    3. Mining towns
    4. Interest rates
     
    ect

    I think you have some really good points and data, and I say this with no dis-respect but you are always negative in regards to most posts.
    Are you saying we shouldn't invest in property?
    For us novice investors could you share some thoughts/views in regards to investing in property?

    sean

    Profile photo of seankseank
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    Hi Foundation,

    You have some good points and data.
    Could I please aks what qualifications you have?

    Profile photo of seankseank
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    Thanks  for the reply V8 ghia

    Hi Terry,
    If this was the case could you provide more details on the load ie – interest rate, re-draw facility ect

    cheers,

    Profile photo of seankseank
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    alot of negative feeling here….
    anyway I think its not all gloom and doom.
    I'm 24 earn a wage of 40k gross per year and own 3 IP in Brisbane – and i think the market rewards people who have a go.
    I've also done this with liitle cash of my own.
    Am I struggling with recent interest rate rises??  YES
    Was i going to sell up and give up?? NO
    What did I do???
    1. I went out and got a 2nd job – 
    2. I got another flatmate to share with me .

    I'm not sure most people would do this , but it was the difference between me sinking or staying afloat and riding the storm out, in fact it helped me to save a deposit for my 4th property.

    cheers seank

    Profile photo of seankseank
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    My point of view as a potential buyer. …
    In this day and age by far the easiest way to compare many properties is by internet.
    When I was looking for my last investment property I scrolled through many, and I can say you did notice the agents who appeared to take more time and effort, if only measured by how many photos they took.  I think it's very important if you can see many photos of-

    -inside/outside
    -features
    – backyard ect

    Not only how many photos, but also they way they're taken lighting ect can help

    from here I could compare many properties without even leaving my house.

    I noticed any property with Jenman only had 1 mealsy photo of the  exterior , hardly doing the property justice. I know anyone working for Jenman would work very hard and sorry if this is an insult, but to me it looks like a lack of effort.

    With properties turning over so quick around my area (greenslopes) I simply "clicked next property" , as I did not have the time to leave my house just to inspect 1 property when I could potentially inspect 100's without hoping off my chair.

    On the flipside you could apply the same if you were selling, and I would not mind paying the extra to have a agent take the extra bit of effort to take lots of good quality photos – as the old saying goes "1st impressions count"

    I know there are many more factors when selling , but this is 1 example of poor marketking, where a potenial buyer was lost just due to the "perception" the agent did not put in the effort.

    Profile photo of seankseank
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    If it stress you that much, don't watch the share prices day to day, buy some good companies put the holding certificate in your bottom draw and forgot about it for 12 months, after all I think you would be having sleepless nights if every day you got quoted how much your property would sell at auction that day to.

    Good comment Tysonboss, too bad its splashed across newspapers and news every night

    I think thats the whole problem.

    I found this intersting link – debate if you will !
    http://www.murraywoodman.com/murraywoodman/property_vs_shares.asp

    Cheers

    Profile photo of seankseank
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    Hi All,

    I own 2 propertys and a small share portfolio.  Over the last few weeks I sold off some of my shares like many others due to confidence – and consequently lost  about 2k. Now I still retain some shares in blue  chip companies mind you, but I sometimes goto sleep at night feeling like I want to puke just thinking what the market might do, and either if the market will bounce  back or I will lose more money on paper.
    On the other hand I can goto sleep at night and not worry about my property. There was 1 time however I was stressing every night, and that was in between tenancies were my property manager did not rent my property out for 2 weeks, I simply listed with another agency, and they got it rented out straight away – I suppose in this way you have more control over the situation.
    Either way both have their pros & cons however me personally I seem to lose less sleep over property
    cheers guys

    Profile photo of seankseank
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    Hi Marc,

    I like the criteria you  outline to purchase a property, well thought out and logical. 

    Just a couple of quick questions….

    1.Can you please provide more insight by letting me/us know what areas/suburbs you are are personally looking at (in Aust) which are close to the set out criteria??
    2. Do you always follow these steps  regardless of where the market is, or what you personal finances are like,  for example – if you had a lump sum of cash and the market was in a boom would you

    a) dump the cash onto a high $$ property making it CF+ , which was close to cbd ,had good capital gain prospects ect OR
    b) stick to original criteria and probably buy several which suit?

     In essence to you ever adjust your criteria to suit economic conditions?
    Cheers,

    Profile photo of seankseank
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    Hi,

    I posted on this forum a while back regarding investing in Perth and somebody came back to me with the idea that is may be more sensible to invest in Queensland or SA as Perth has peaked recently and capital growth will more than likely be minimal over the next few years.  As I have  never been to Queensland and this is my preferred place to buy, I am wondering if anybody can give me any information on suburbs around Brisbane that are on the 'otherside' of the growth suburbs or where I can source information for Brisbane that is similar to the REIWA site in Perth.  I am looking to spend around $250K or there abouts.  I will even look further out towards the sunshine coast or south towards the goldcoast or even coastal country areas.  Anybody who is active in the Brisbane/Queensland property market who has any tips or info I would greatly appreciate any information.  This will be our second investment property so I am still relatively new to the property industry but I find myself addicted already!

    Cheers

    NicoleK   

    OK,

    To answer the question without providing any advise or bias.
    250k based on price, closest to brisbane cbd -maybe look at the following areas:

    HOUSES-
    SOUTH – Logan area Woodrigdge, Beenleigh, Kingston, sunnbank hills
    NORTH – Redcliffe, Burpengary, Strathpine
    WEST – Ipswich, Goodna, Camira
    EAST – NOT SURE

    UNITS – 
    SOUTH – Wooloongabba, Greenslopes, Coorparoo
    NORTH – Chermside, Kedron,
    WEST- Toowong, Taringa, Paddington
    EAST – Morningside, Bulimba (maybe), Balmoral

     Houses will be older style maybe needing work
    Units 1 or 2 at best bedrooms older style

    Hopefully I can post this without stepping on anyones toes – I don't have anything to gain from this forum, just a brissy local with some knowledge of the area

    Profile photo of seankseank
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    That's a rash statement.   I have just sold 2 x  two bedroom units in South Brisbane for under $275,000 and two in Toowong for under $262,000.   They are out there, but you do have to be quick.

    Jon

    Agree John,

    Plenty around you just gotta be quick because everyone else is out to buy them!!
    Yes they don't appreciate as well as houses HOWEVER……

    1.Units are a "foot in the door" if your budget is tight
    2. Well located units and a tight rental market assure a unit will never be vacant
    3. Yields are generally better than houses, helping cash flow

    Dont be discouraged, I started with a unit, then sold for a small profit which enabled me to move on to a house.

    Profile photo of seankseank
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    Thanks Xenia and hallg for your responses…
     
    Xenia if you need someone keen and reliable you got the right team  
    Still no-one has answered the question for an outlay of around 20k for aprrox 60k gross is this a good return????
    Could someone be so kind to answer ?

    Profile photo of seankseank
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    cheers for the reply Marc,

    ok  besides the cash in hand issue, have you hand any dealings/experience/insight into cleaning contracts/franchises. Do you think an outlay of 20k  for the return (50-60k gross p/a) is an ok investment?
    Once you sign up you can obtain additional contracts also.
    Any help would be greatly appreciated.

    Profile photo of seankseank
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    Sorry to babble on but I wanted to add, Capital gains would peform better over time say 10 years. It seems everyone on this forum is looking to make a quick buck, but I don’t think it exists. The only way I got property was SAVE for deposits, buy well located property then budget.Sure this wasn’t creative or fancy but over time the yields have caught up and I made some healthy capital gains along the way. Do you think CF+ properties in mining towns will be still here in 10 years??? Sure we could be fancy and sub-divide or renovate but who has that kinda money…. not me, unless your on 100k per annum in which case I dont think you would be on this forum!! Thanks guys

    Profile photo of seankseank
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    I was interested in the property because it has good CF+ and good prospects for capital growth * 10 mins from BRIS CBD * close to all amenities ect. In fact for any local Brisbane people there are alot of these properties advertised around Salisbury, Coopers Plains, Wooloongabba. Prices are initially high around 300k but returns are always above 8% which each room let individually.(usually students or single workers)Does anyone out there have a property like this, if so can they give us the PROS and CONS of owning this type of property???

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