Hi all,
Before I bombard with questions I just wanted to give a bit of background around my current situation. As my name would suggest I am a first time investor. I am 25 years old living and working in Sydney and I am looking to start investing in property in the very near future with the medium term goal of purchasing a number of investment properties over the next 5-10 years to set me up for retirement.
My investment strategy will be to purchase for CG and hold long term, negatively gearing. Based on my rough calculations I think my initial budget is ~$600k
My reasons for posting are I was hoping to get some advice on (a) where to buy; and (b) recommendations on buyers agents / investor services.
(a) where to buy: Given this will be my first investment property would the forum recommend buying in Sydney so I can manage the process more effectively? I am cautious of buying in Sydney given its strong growth over the past few years I don't want to be buying at the top of the market... From everything I have read it seems that Brisbane is the higher growth city and will likely provide better returns so ideally I would like to buy there... but is it too risky buying interstate for my first investment?
My other issue is that I consistently work 90+ hour weeks being a junior in banking and have very little time to do anything let alone conduct thorough research and DD finding an investment property. This leads me to question (b)
Can the forum recommend any property investment advisors in Sydney or Brisbane, although preferably Brisbane based as that is ideally where I would like to buy, that will effectively hold my hand throughout the entire process (i.e. find me the right property, help arrange financing, negotiate and buy the property, manage the property etc etc) I understand I will have to pay a substantial fee for these services but for me I have no other option if I want to invest in property as I simply do not have the time. Has anyone used advisor services before or heard of any reputable advisors from others?
Sorry for the long winded post I really would appreciate any advice/help anyone can offer.
Thanks in advance!
Before I bombard with questions I just wanted to give a bit of background around my current situation. As my name would suggest I am a first time investor. I am 25 years old living and working in Sydney and I am looking to start investing in property in the very near future with the medium term goal of purchasing a number of investment properties over the next 5-10 years to set me up for retirement.
My investment strategy will be to purchase for CG and hold long term, negatively gearing. Based on my rough calculations I think my initial budget is ~$600k
My reasons for posting are I was hoping to get some advice on (a) where to buy; and (b) recommendations on buyers agents / investor services.
(a) where to buy: Given this will be my first investment property would the forum recommend buying in Sydney so I can manage the process more effectively? I am cautious of buying in Sydney given its strong growth over the past few years I don't want to be buying at the top of the market... From everything I have read it seems that Brisbane is the higher growth city and will likely provide better returns so ideally I would like to buy there... but is it too risky buying interstate for my first investment?
My other issue is that I consistently work 90+ hour weeks being a junior in banking and have very little time to do anything let alone conduct thorough research and DD finding an investment property. This leads me to question (b)
Can the forum recommend any property investment advisors in Sydney or Brisbane, although preferably Brisbane based as that is ideally where I would like to buy, that will effectively hold my hand throughout the entire process (i.e. find me the right property, help arrange financing, negotiate and buy the property, manage the property etc etc) I understand I will have to pay a substantial fee for these services but for me I have no other option if I want to invest in property as I simply do not have the time. Has anyone used advisor services before or heard of any reputable advisors from others?
Sorry for the long winded post I really would appreciate any advice/help anyone can offer.
Thanks in advance!