with $260k-$300k which area in Brisbane would you recommend?

I would probably look Beenleigh, Eaglby, Slacks Creek, Marsden/ Cresmead

Good area, proven growth, strong rental demand and close to SE Freeway and core South side employment bases.

Good stock goes in less than a day though, so you will need to be totally ready, and put ina strong contract, solid deposit, short finance terms, shorter settlement, as you are competing against many buyers from Sydney, ACT, Melbourne, cash contracts, and self managed super funds buying.

Bye
Kylie

API hot 100
Beenleigh median price Mid 200k
Capella      "         "    "    "          275k
Cleveland  land value              15k to 170k
Coomera                                    277k
Gladstone                           mid 200k
Redbank                                     241k
Toorul                                          265k
South cairns Yarrabah   land  250k

Interesting comment- most of the wealthy accountants, solicitors, and valuers of Brisbane and Gold Coast, plus most agents themselves and very serious investors are holding 30- 40 properties each in these area. Good stock under 300k, sells in less than 1 day.

I have over 30 properties in this area, and have invested heavily here since 1999- with the results, equity, growth, has allowed me to now invest in waterfront property on the Gold Coast, build townhouse developments, buy 3 commercial premises and build, sell 10 house/ land packages in the last 12 months. I have no vested interest to recommend these areas, but if you study the capital growth of these area, rent demand, rent return and projected growth these are the areas that come up winning on all counts for under 300,000. Also you must be up with the councils infrastructure, and beautification programme.

Yes some of these areas were scum a few years ago, but most of this has all changed now.

In any suburbs there are bad streets, there are a few in these areas, but then you keep away from these ones.
I work in these markets daily and here are some of the scenarios that we own and hold, with long term tenants, mainly families long term. My longest tenant has been there 7 years and always a month in advance!!

KINGSTON- Bought 130k in 2006, reno 20k, rent 350 pw, revalue last week at 320k
SLACKS CREEK- Bought 83k in 2004, on 1252m2, reno 25k, rents 330pw, reval last week 340k, and we will build a new spec on the back of the block.
KINGSTON- Bought 2003 for 150k, 1599m2 – just subdivided and registered into 3 blocks and sold each block for 195k
LOGAN CENTRAL- Bought in 2006 for 99k, 4 brm, highset, 850m2, spent 30k in reno, then rented 300 pw, just sold for 335k, settle in 1 week- yahoo!!
BEENLEIGH- Bought $99k, 1100m2, bought 2007 as a mortgagee sale, reno 25k, rented 285k, revalued last week at 320,000, and new tenants in at 335pweek.
EAGLBY- Bought $ 45,000 each unit, bought 7 units in 2003, now worth about 210- 220 each, tenants paying 220 per week each. Block revalued at 1.470 last week by Richard Ellis.

Anyway I think you should not criticise anyone without looking at the facts, evidence, and asking questions.
Im 36 now pretty much retired – dont need to work if I dont wish to through property investing,a nd I got my start and way up to other projects through these areas.

I think it is wrong to advise against anything unless you really know your market, stats, facts, and evidence, rather than  just sitting in some riverfront mansion  speaking against an area or people without facts.

BOOTLACE interesting coments I wonder if you are even from Brisbane?
Mixedup I own properties in Woodridge and Ipswich, and have not had a problem with my tennants in 5 years.

Also capital growth has been quite nice

According to the last API capital growth for last 12 months has been

Darra – 21.7%

Ipswich – 16%

Springfield – 11.3%

I would reconmend any of the areas you suggest,  but with a budget of 300k may restrict you to Ipswich,

Hi Bootlace,
I like kylie went into logan in late 1999 and have bought and sold there as well as doing a few in beenleigh. Like wise we have done some updating on the units and are now getting better rents as a result. Last year we even bought for other people in logan & surrounds and they have done really well. The area has changed dramaticly since we 1st bought there and we are now doing our 2nd 4 unit development in ipswich and it would not have happened without the gains we made in other area's. Sometimes the story is better than the book cover.
Chefman

Yes Edens Landing quite nice, I have bought and sold a few in there and renovated a few also.

I wouldn't think there would be many less than 300k though now. Mainly families, young couples, nice suburb, central to all.

Dont wait much longer though to purchase, I was out and about today and most agents are telling me- no rentals at all, high rental demand, and hardly anything to sell under 300k, demand is pushing up the price again and there is huge demand in the 280- 330 range now from owner occupiers, and investors. Try to get something with a decent land size, as the value and price rise is in the land.

Also Bethania is not too bad,and Mt Warren Park.

Ring all the agents every few days and tell them you are a serious buyer, can make decisions quick, make sure you have your pre approval ready, and a decent deposit. Maybe do pest/ building 4- 5 days, and finance 5 days, and 30 days settlement.

Goodluck- Kylie

Bit of both in this area- look for decent size land though and a good block, pref brick and tile, or full brick- but not too sure what 300k will get though in this area- as I tend to spend about 310- 325k and buy the solid brick homes that may need a freshen up –

Call me tomorrow if you wish after 9am qld time and I can refer you to a few good agents that I buy from regularly

bye