Time to shop for IP #5 and 6

Hi guys,



IPs 1-4 have all performed well lately and I'm preparing to reval shortly. My MB suggests I can comfortably purchase 2 x $300k IPs using just equity which I plan to do around May-June. After that I'll take a break for a year or so :)



IPs 1 and 2 are units in Western Sydney, while 3 and 4 are townhouses in Beenleigh and Eagleby.



For 5 and 6 I will be buying in QLD again. My options are:

- Houses in Logan (circa $300k)

- Units/townhouses closer to CBD (circa $300k)

- One of each of the above (circa $300k ea)

- 1 dual income house (circa $350k) + 1 unit/townhouse (circa $200k)



These will be buy & hold, main goal is short and long term CG and I require them to be close to neutrally geared.



I also thought about a duplex but the asking prices of the few I've seen don't make sense. ie: This one in Waterford West

2 x houses on 786sqm yielding $700/week for $630k. Wouldn't I be better off buying 2 separate houses at $280k each with similar rentals, higher land sizes and I'm guessing they would value up better/easier than a duplex. Surely you would need a 20-30% discount on 2 freestanding houses to purchase something like this.



Something like this one in Woodridge is interesting but still 7.1% return. I would think a freestanding house @ 6.7-6.8% would be better for CG and ease of valuation.



The below properties are interesting - I'm guessing if rented separately they would yield something like $520-550/week so could potentially yield around 8% and valuations would still be pretty strong. Are these types of dual income properties legal though?

http://ift.tt/1AFTEEV

http://ift.tt/1AFTEEX

http://ift.tt/1AFTEF1

http://ift.tt/1AFTEVg



Questions:

1. Thoughts on duplex purchases? Am I right in that you would want a 20-30% discount on what you'd pay for 2 freehold houses? How do the valuations generally stack up?


2. Are the above types of dual income properties legal?


3. If a 3bdr house yielding $350/wk is $290k and a dual income 5bdr house yielding $440/wk is $330-350k then that seems like a reasonable difference in capital value, the return will always be much stronger in comparison (which can only help the valuation) and there seems to be a good pool of comparable properties around Logan, so I'm guessing valuations would stack up okay on these types of dual income properties (as opposed to houses + granny flats in Sydney which can be hard to value from what I hear). Correct?


4. Where would you look for a unit/townhouse around $250-300k closer to the Brisbane CBD with a close to neutral return?

As usual, any help would be appreciated!



Cheers!

John

Time to shop for IP #5 and 6