I know there's multiple threads on this but I created this one to answer questions that hopefully have not been asked or answered.
Before I ask just thought i would outline my goals.
After an investment that is cash flow positive (well neutral to minor negative at first is not a big deal).
I do have a development site in Sydney and am looking for another small one in Sydney. I do not see myself buying and holding anything in Sydney at this stage (The areas i can afford do not appeal to me in the current market conditions and the areas in Sydney that do appeal to me to, either i cannot afford or it would have major impacts on my ability to develop blocks in Sydney).
My income is not that high so usually with most development opportunities serviceability is my main issue. So i would like to gain passive income over the future hence cashflow is the main motive with this investment. CG is also a factor but is secondary to cash flow.
Why I am inquiring into Kingston/Logan - seems to have properties that are close to neutral gearing, looks like once the draft plans come into action there will secondary dwellings which will allow decent positive gearing. Seems like a low value investment - so risk and amount of equity (which would be used to service developments) are minimal.
From what i have read these areas are of lower social economics. 2770 equivalence of Sydney. Also bogan community (from Bogan Hunters). When i visited the area a few weeks ago found it to be more of an ethnic community (more of recent migrants). Didn't see to many bogans although i did visit on a Sunday (around Midday and not go inside the pub) so maybe they were all hungover from Saturday night lol.
Question)
Whats the ethnicity diversion like? I seemed to see quiet a few Indian/Bangladesh/Pakistan origin and quiet a few of African origin. Are the numbers from these backgrounds increasing (over the past few years). From the internet reading it gives more of an idea it is a Caucasian area with the next ethnicity being Islanders and Aboriginals.
Question)
Reading one of the treads i seemed to get the idea that dual livings already existed with the downstairs converted to a secondary residence, although as of current laws that these had to leased as one lease. It was usually migrants that were interested as they had larger families or consisted of 2 related families that would lease together. Would anyone have any experience/thoughts/opinion of the paragraph.
Question)
What's the difference of living closer to a railway station or not in terms of demand. How important is Kingston or Logan Central station to residents of the area. Also are the houses closer to station (e.g eastern side of Kingston such as Clair Rd) less disarable than the western side of Kingston? And do the houses that are near the station attract a certain type of people?
Quick Questions) Would anyone be able to quickly share the costs of their outgoings on a rental property in the area? (I know its probably out there on the site already)
Any reply on the questions or thoughts would be appreciated
Thanks
Before I ask just thought i would outline my goals.
After an investment that is cash flow positive (well neutral to minor negative at first is not a big deal).
I do have a development site in Sydney and am looking for another small one in Sydney. I do not see myself buying and holding anything in Sydney at this stage (The areas i can afford do not appeal to me in the current market conditions and the areas in Sydney that do appeal to me to, either i cannot afford or it would have major impacts on my ability to develop blocks in Sydney).
My income is not that high so usually with most development opportunities serviceability is my main issue. So i would like to gain passive income over the future hence cashflow is the main motive with this investment. CG is also a factor but is secondary to cash flow.
Why I am inquiring into Kingston/Logan - seems to have properties that are close to neutral gearing, looks like once the draft plans come into action there will secondary dwellings which will allow decent positive gearing. Seems like a low value investment - so risk and amount of equity (which would be used to service developments) are minimal.
From what i have read these areas are of lower social economics. 2770 equivalence of Sydney. Also bogan community (from Bogan Hunters). When i visited the area a few weeks ago found it to be more of an ethnic community (more of recent migrants). Didn't see to many bogans although i did visit on a Sunday (around Midday and not go inside the pub) so maybe they were all hungover from Saturday night lol.
Question)
Whats the ethnicity diversion like? I seemed to see quiet a few Indian/Bangladesh/Pakistan origin and quiet a few of African origin. Are the numbers from these backgrounds increasing (over the past few years). From the internet reading it gives more of an idea it is a Caucasian area with the next ethnicity being Islanders and Aboriginals.
Question)
Reading one of the treads i seemed to get the idea that dual livings already existed with the downstairs converted to a secondary residence, although as of current laws that these had to leased as one lease. It was usually migrants that were interested as they had larger families or consisted of 2 related families that would lease together. Would anyone have any experience/thoughts/opinion of the paragraph.
Question)
What's the difference of living closer to a railway station or not in terms of demand. How important is Kingston or Logan Central station to residents of the area. Also are the houses closer to station (e.g eastern side of Kingston such as Clair Rd) less disarable than the western side of Kingston? And do the houses that are near the station attract a certain type of people?
Quick Questions) Would anyone be able to quickly share the costs of their outgoings on a rental property in the area? (I know its probably out there on the site already)
Any reply on the questions or thoughts would be appreciated
Thanks