Hi All
thought id finally say hi after having an account for the last few months with little activity
Been looking for a property for over a year now and only seriously since late last year. I'm planning on getting married towards the end of the year so i'm very keen to get a investment property prior or it just won't happen until early next year. I also want to get it out of the way as its one of the things I constantly think about.
I've got in touch with a Broker and come up with a brief strategy. I'm looking at capital growth at present. Personally to me it seems like a better option in the long run though I understand it has its Pitt falls such as higher risk (compared to the high yield strategy). I'm 28, have an income of 98k with enough savings+shares to let the tax man get a good feel once a year
I started out looking at the lower north shore such as hornsby etc and quickly figured out that i'd missed the bubble. Turned my attention to werrington east of penrith to see a lot of places being snapped up on open day and being bid out on several occasions (with cg rates of 18% in 2014 for homes,I can see why now )
I then turned east towards Pendle Hill and Wentworthville, again same thing advertised for 350k sold for 410k advertised for 400k selling for 420k etc etc. Made a few bids but kept being out bid and pulling out too soon, guess its just the mental games i'm not used to.
And after reading 100's of posts on these forums hinting that there area better places to invest in that western Sydney and that you've missed the boat i turned my attention to QLD. Targetting 3 areas specifically, around the CBD, Logan or Ipswich
Logan seems like a good buy, goes against what i have in mind as I've not read too much about a huge cg but I've not read anything against that either. Houses are cheap(ish) and yield is on the higher side (comparatively) and depending on the Street/suburb you buy people are feeling comfortable (I know Michael X is, reading all his posts about the area!)
Next are the suburbs around the CBD (Holland Park, Coorparoo, morningside new farm etc) seems like CG prospects are high, yields are on the lower side and most of the cheapies are gone but some good deals still to be had.
Ipswich, i've not looked yet but my partners boss who's done this a few times said i should turn my attention to Ipswich too as it looks like a good area.
So help me get my head straight. Am I on the right track or have I confused everyone here too?
So, any tips? Motivating words or should i just make a decision in one of the suburbs above and start from there?
EDIT: Also Should I be looking to Melbourne or is it in a similar situation to Sydney?
thought id finally say hi after having an account for the last few months with little activity
Been looking for a property for over a year now and only seriously since late last year. I'm planning on getting married towards the end of the year so i'm very keen to get a investment property prior or it just won't happen until early next year. I also want to get it out of the way as its one of the things I constantly think about.
I've got in touch with a Broker and come up with a brief strategy. I'm looking at capital growth at present. Personally to me it seems like a better option in the long run though I understand it has its Pitt falls such as higher risk (compared to the high yield strategy). I'm 28, have an income of 98k with enough savings+shares to let the tax man get a good feel once a year
I started out looking at the lower north shore such as hornsby etc and quickly figured out that i'd missed the bubble. Turned my attention to werrington east of penrith to see a lot of places being snapped up on open day and being bid out on several occasions (with cg rates of 18% in 2014 for homes,I can see why now )
I then turned east towards Pendle Hill and Wentworthville, again same thing advertised for 350k sold for 410k advertised for 400k selling for 420k etc etc. Made a few bids but kept being out bid and pulling out too soon, guess its just the mental games i'm not used to.
And after reading 100's of posts on these forums hinting that there area better places to invest in that western Sydney and that you've missed the boat i turned my attention to QLD. Targetting 3 areas specifically, around the CBD, Logan or Ipswich
Logan seems like a good buy, goes against what i have in mind as I've not read too much about a huge cg but I've not read anything against that either. Houses are cheap(ish) and yield is on the higher side (comparatively) and depending on the Street/suburb you buy people are feeling comfortable (I know Michael X is, reading all his posts about the area!)
Next are the suburbs around the CBD (Holland Park, Coorparoo, morningside new farm etc) seems like CG prospects are high, yields are on the lower side and most of the cheapies are gone but some good deals still to be had.
Ipswich, i've not looked yet but my partners boss who's done this a few times said i should turn my attention to Ipswich too as it looks like a good area.
So help me get my head straight. Am I on the right track or have I confused everyone here too?
- Looking to purchase a property now and another in a year and one every year for the next 5. I assume the acquisitions will grow exponentially but thinking i'll be a little realistic
- I want to purchase in a CG foretasted area so i can use the equity and some extra capital if needed to finance the next one and the next one
- I want to keep the costs below 450k given the other activities coming up.
So, any tips? Motivating words or should i just make a decision in one of the suburbs above and start from there?
EDIT: Also Should I be looking to Melbourne or is it in a similar situation to Sydney?