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Hey thanks for your input, yeah well the whole place isn't a disaster zone I will just need to make sure I've done plenty of flood research before ever committing to a buy, Chapel Hill is west Brisbane isnt it? that isnt for from Toowong I believe? Which is somewhere I was looking at that seems to have a good supply of tenants bringing in great rental returns on apartments there, anyway looks like I'd best steer clear from the Gold Coast , I'm currently focusing on suburbs as close to Brisbane city as possible, just trying to decide on the best setup for my first investment, I'm really after something that is positively geared, I dont have the cash flow for a negatively geared house that cant pay for itself, any thoughts on townhouses around Brisbane? The prices are very enticing and some of these are filled with multiple tenants fetching over $450 p.w in rental income with low B/C costs. Anyone have experience with suburbs like Mt.Gravatt or Coopers Plains or anywhere South of Brisbane?
Mind you i believe some areas here are probably flood affected, where if any suburbs in Brisbane are there 'safe' areas?
It has really taken a hit the last few years that's for sure, for a first time investor like myself with limited experience the ability to buy cheap property that's positively geared is enticing on a low income, but nonetheless not overly useful if theres no CG or prices become even more deflated…
Does anyone ahve any thoughts on apartments in Brisbane?
Jason957 wrote:Hello,Firstly – I am not a investor yet but just something that came to mind, maybe with the Australian dolloar lower is there a chance it could boost tourism in the Gold Coast influencing capital growth. ?
Jason
That's a good point, however not sure of the impacts of long term capital growth, its possible it may increase demand for apartments.
Qlds007 wrote:Hi TannerFirstly welcome to the forum and i hope you enjoy your time with us.
Spent last week finishing of the exams for my full Real Estate License which will help with our new Buyers Agency arm.
Funnily enough i sat next to a guy who worked the Surfers Paradise area and he spent most of the telling me about the area.
Further falling values, diminishing rents and vacancies everywhere was his take on the area and he had worked the area the good and the bad times.
Anyone who invests in the GC is catching a falling knife and certainly would never put one of my clients into the area especially if they wanted to build their portfolio.
Just because the prices are cheap doesn't mean they are going to increase in value.
There are plenty of areas where we put our clients into with cheap prices which have the drivers to encourage capital growth over time and in the meantime enjoy good cash flow meaning the investor can buy again and increase his portfolio.
My opinion steer well clear.
Cheers
Yours in Finance
Appreciate your input pretty much the answer I was expecting, from what I've seen it seems like sellers are just desperate to get out, I would be interested in possibly pursuing Brisbane, but the flood disasters they've had there the last few years scare me.
The insane oversupply of apartments available in the Gold Coast really is a concern.
