Inala Investment Property purchased for a client who was seeking a property with high capital growth potential. With similar homes in the neighbouring suburb of Doolandella reaching prices well over $700,000 and up to the $800,000 range, it was time to look further away from my traditional target area and look for the next hotspot.
Brisbanes Next Hot Spot
The formula I follow is very simple, if a suburb is reaching the top of the property price cycle, there is little point in investing there. You end up paying far too much for a property and you have to wait a long time to realise any capital growth. Inala is less than 1 kilometre away and the properties are still relatively well priced.
It makes logical sense that if a suburb has reached the top of the property price cycle, the next suburb to start to expereince pressure from buyers who have not been able to secure a property in the desired suburb will start to look at the next closet suburb and in this case, that’s Inala.
Inala
Inala is not everyones cup of tea, mine either, in fact the is the first property I have purchased in the suburb becuase the majority of the properties are old weather board homes that require a lot of maintenance and the local demographics are not the best either. In saying that, this property we purchased was the best in the area. 12 years old, brick and tile, 4 bedrooms 2 bathrooms double lock up garage on 652 m2 of land.
Off Market
The property was sent to me by the local Ray White principle who said it was well worth inspecting and I am glad I did. We ended up purchasing the property for $610,000. The existing tenant takes great care of the property and pays $490 per week rent which gives us a return of 4.1% and the property is cash flow positive.
