Purchase of a medium spec property with a focus of cash flow and growth to eventually result in replacing income at a rate of 1 property per year. As a high income earning professional, growth is considered especially important for the property being purchased. Ryan’s serviceability would allow him to release equity for subsequent purchases relatively easily. The ideal market would be located within reach or metro areas or major regional cities in Queensland.
It’s with great pleasure to present
Logan is home to more than 327,000 people from more than 217 different cultures.
Logan is home to many Aboriginal and Torres Strait Islander communities. Traditional Custodians represent the original Aboriginal inhabitants of the area. There are also Elders and people who have come to live and work in the City.
New estates flourish as the city grows. Residents enjoy a range of housing options, from leafy suburbs to bushland acreage.
Logan is located between Brisbane, Ipswich and the Gold Coast which allows residents easy access to the national highway and rail networks.
Logan has more than 1,100 environmental and recreational parks. Many of the parks feature dog off-leash areas, exercise facilities, play equipment and skate ramps.
The markets movement over the past year, paired with supportive driving data shows us there is good growth to come.
The fall in days on market (DOM) shows that market conditions are heating up which will result in market growth as demand increases.
As properties begin to grow in value, vendors are realising the interest in the market and discounting less.
As we are looking for a positively geared property, yielding will need to be considered. We can expect this to rise due to the supporting data.
The increase of new listings coming onto onto the market shows that vendors are wanting a piece of the action and are willing to gauge the market.
As vendors begin to realise the markets potential, savvy owners are putting their properties on the market to get in on the action. This is expected to turn in the next 4 to 6 month as values rise.
Asking Price
Market Value
Current Rent
Potential Yield
Offers over $349,000
$350,000
$400 p/w
5.94% Gross
Easements are areas which need to be accessible by council or other similar authority figures. An easement could be related to sewage piping, gas lines or electrical works.
Flood zones are caused by obvious causes. In areas where the terrain is fairly flat and river banks overflow, properties which fall within these catchments warrant higher insurance costs.
Building and council regulation states that the dwelling on top of the land needs to be classified correctly for the type of structure that it is.
A caveat is a ruling or law attached to the property, usually with a contract attached to it. If this is the case, the caveat needs to be understood as to what it is, who it benefits and when or if it expires.
The initial property title search shows a number of legal details, namely the lender, registered owner, administrative advice and more.
Outstanding council costs can come form CDC or DA work that has been put in action on the property. It could also come from maintenance charges and similar services.
In communications with the listing agent, he/she has confirmed the condition of the property is as the listing shows. This will be verified by our team in the steps moving forward.
Council rates are paid by the owners and fund council work and operations. Generally, the smaller the population and larger the council, the higher the fee is.
Landlord insurance is an compulsory free for the possession of a tenanted investment property.
There are 3 types of listing stages:
None of these types of listing types define the quality of the property.
The build year should be considered when purchasing properties of different structure types. The price of the property can be reflective of the build year vs the structure type. Some structure types age better than others. At a certain price point, it is worth remembering that land is the appreciating asset, while the dwelling is the depresiationg asset and can be reflective in the age of the property.
Tenure renewals dates need to be considered in rising markets. If the market is rising, your ability to increase rental rates will on be possible at the time the tenants lease period has come to an end.
Lease renewal rates cannot be changed inside of lease periods, for the benefit of the tenant.