DK

Investment in Brisbane

Hello Guys

I am based in Sydney and looking for an investment in Brisbane. I am doing my research at the moment and looking for advise. My budget is around 500,000 for house and around 350,000 for 2 bedroom apartment

My criteria is

1. Suburb should have good schools and train station (preferably) otherwise commute should be easy to CBD
2. Should be close to CBD preferably with 10-15 kilometer

Can you please give any kind of advise on the same?

Regards
DK
Question asked via Homely.com.au The opinions expressed here are those of the individual and not those of Ray White.
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Hi DK,

Great question and your budget is excellent,it really giving you an opportunity to get a great quality home. I am a property investor myself and have working with Investors for the last 13 years. Suburbs that I am heavily pushing my clients to at the moment are Salisbury and Moorooka. YES I KNOW MOOROOKA!!! There are some GREAT little spots in Moorooka that adjoin Tarragindi and Salisbury and these are really good buys. Rental wise, Tarragindi and Annerley are starting to get a bit expensive for tenants so the next logical step is move back one suburb.

Salisbury is great, you have a train stations, lots of little cafes starting to pop, local clubs, parks, two schools and an Aldi. Give you an example of price point - this property is currently on the market, its a 3 bed, 1 bath house with a SPA, recently updated and on 607m2 for offers over $450K, that house will rent around $450p/w so its a great little buy - http://www.realestate.com.au/property-house-qld-salisbury-119986137

Another example of Moorooka - we just put under contract a rental property of ours its a 1 year old 2 bed 2bath free standing home (looks like a townhouse but it isn't) http://www.realestate.com.au/property-house-qld-moorooka-119889193. Property hasn't settled so I cant talk sold price but I can let you know before you even count the additional tax benefit of depreciation, this property was close (very close) to a 6% return.

There are good spots, everyone has their own opinion of North side versus South at the end of the day for investment you really need to keep in my condition, the newer it is so that you can get that bit back in depreciation is always going to help! ALWAYS ALWAYS where ever you can offer your properties as Pet Friendly, tenants with pets, stay longer and generally are prepared to spend a little more and CUPBOARDS make sure they have or you get cupboards. there is no problem getting an older home but just make sure you arrange to get some cupboards installed and I dont mean $2000 cupboards, good cupboards off ebay or gumtree are no problems either just make sure you have them.

AND OF COURSE - the most important piece in this entire puzzle is the AGENT!!!!! You don't have to give the business to the agent you buy off. Do the research homely is great at giving you all the local agents, all you have to do is send of 5 or 6 emails and collate that information together with experience, reviews and testimonials and then make a decision.

I will give you a tip EVERYONE gets set on management fee, do less, give me a deal etc etc. The difference on $450p/w between an 8% management fee and 7% management fee is only $4.50 p/w. If your property is vacant for 4 or 5 weeks because your agent cant lease the property, your loss well and truly outweighs the $5 difference per week. Experience, how long they've been doing it, how many properties are managed a) by the office and b) by your property manager, do they have a dedicated leasing department, how many times they show the property a week and how far the are from the property ARE the basis questions you should be asking before you delve further.

Best of luck and please feel free to send ANY properties you are interested through to me janinecolman@eplace.com.au and I'll keep and eye out for anything we get as well.

Cheers
Janine Colman - Place Annerley - Client Manager - 3426 0040 - 0406 789 647 - janinecolman@eplace.com.au
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The opinions expressed here are those of the individual and not those of Ray White.

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