Les
Reply: 1.1.1.1.1
From: Mike .
Re: Investor Clubs - my 2c worth
From: Les
Date: 10/26/99
Time: 9:14:05 PM
G'day Rodger,
I have been approached by Strategic PI re buying a unit in Carseldine (North side of Brisbane). The only reason I didn't go ahead (approx. 12 months ago) is that I wanted to become more knowledgeable before signing up. I have since decided I don't want units, so am not going with them. I have heard good words, and no bad ones, of them - and the figures looked OK to me.
Re "SE region of Qld" - I really think you will find EVERY stage of the property cycle at one place or another in SE Qld. There seems to be a renewed interest in Brisbane, especially near the CBD as it has not reached "stratospheric heights" in dollar terms compared to Sydney.
Also, I think one of Jan's books showed migration patterns - (memory speaking here ;^) immigrants go to Sydney/Melbourne, while Australians migrate North - and population growth is such that Brisbane will be bigger than Melbourne in the next 2 decades. Also, I heard that Boeing is moving their Head Office (for Australia?) to the south side of Brisbane (actually nearer halfway to Surfers). If this is the start of a trend, I would venture to suggest that Brisbane is "good news" for the next 10/20 years.
Some areas (isn't it so everywhere?) may not do as well as others, but I personally love the Rental returns. It is COMMON to find areas where the vacancy rate is 1% and rental return is 7 - 8% (nice while mortgages are 6.5%).
See my earlier replies to others re "getting a valuation" - JUST IN CASE the property you are looking at is vastly over-priced. Ring 4 - 5 different agents in the area in which you're looking - most will be happy to
1. give you a price range of e.g. 3br brick & tile, ensuite, slu, etc. or
2. send you a glossy brochure of properties for sale (usually covering ALL of Brisbane) so you can start to "get a feel" of asking prices around the place.
Good luck, Les