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Latest Alerts

Worth a Look

We came across this property a few weeks ago and found it interesting then, but overpriced. It is still overpriced but the agent is working hard on the seller to educate them (we’ve been an instrumental part in this), and we get the impression the price could start to become reasonable. We’re hoping to strike at the right moment. On offer is a 607m2 lot but with an advantageous wider than normal frontage. It has a character home, but subject to advice we’re quietly confident we can gain approval for removal. We believe 3 storeys can be developed over the site, which in turn should allow us to achieve 4 townhouses (further work required). It is also a quiet street with excellent access to lifestyle amenities and only 4km as the crow flies to the heart of the CBD. Our numbers for a 4 townhouse development is sitting at 21.4% equity gain, which is sitting just shy of where we’d like them to be, but the site has other attributes that make it a winner. Buyers up to $1.4m should call Justin on 0410511535.  

First in Best Dressed

This property has just been signed up, but we’ve got first crack before it officially gets marketed and we want to take full advantage of that! On offer is a pre-war home on 607m2 in a highly desirable location, with the suburb now consistently achieving sale prices above $3m for new houses. There is no price but the agent has quoted the ‘auto-val’ of $1.19m provided by RPData to the seller and informed them the house that must be retained decreases the value. Anyone with experience in the industry should know that the auto val is about as useful as the number 9 on a microwave. Sales evidence suggests this should achieve $1.25m on the open market, even with the house retained, except we believe there’s a fairly decent chance at removal of the home (conditional period required to confirm). Even renovated (like new) and extended the property stacks. The plan here is a new home, or to renovate like new and have an end product worth between $3.2m and $3.3m and providing a circa 20% equity gain on a $1.15m purchase.

Short and Sweet

We like easy developments where you can keep the project short and sweet, like this one. On offer is a dated but liveable home resting on 3 lots in a quiet and short cul-de-sac. The advantage of this is in theory, you can either demolish, gain titles and sell without doing much more, or even attempt to sell ‘off the plan’ and if things don’t work out, you still have a rentable house to hold onto. The site does come with some complications, which we believe we’ve taken adequate care of in our numbers, the result being approximately $215k or 17% equity gain from a project that is almost as basic as it gets and can be completed in around 6 months.

Do Less

Isn’t it everyone’s dream to do the bare minimum and still make good money? This property may allow you to do that! On offer is a house, already sitting on 2 lots, if purchased at auction for $1m or less should show an equity gain of nearly 22% simply by demolishing, getting titles, and selling. Buyers around $1m prepared to buy at auction should call Justin on 0410511535.


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