Hi all,
My partner and I are now in a position to buy our 2nd investment property are are looking for opinions on area's in Brisbane.
First, a little about our situation. We are currently 29/31 year old DINK's on reasonable salaries - there is a chance in the next year or two we will be down to one income though. We have a 200k mortgage on out OOP in Tasmania and have used to equity in that to purchase a duplex in Dakabin, QLD. This is positive cash flow.
Our strategy is to Buy and Hold and hopefully set ourselves up for retirement on 80-100k income.
Our serviceability is great ATM and have a ~75k cash deposit so are looking for a purchase price under 500k and need CG to assist in future purchases when we may have a lowered income.
So, we are looking at areas on Brisbane and are thinking along these lines:
Inner ring suburbs ? Near finished OTP in an area that hasn't got a huge amount of stock coming onto the market if possible. We understand our buying power is limited so will most likely only be able to afford 1 bedders and it would be too big a risk to take on a long OTP in case we are on one income.
Middle ring suburbs - House and lands, townhouses, 2-3 bed boutique apartments in small complexes. Obviously aiming to get as close to the CBD as possible within our budget.
We are not experts on the Brisbane market so are interested if anyone has any suggestions, or, initial opinions on the following properties (without me providing a huge amount of info). I have my own opinions but wondering whether anyone thought these were good purchases for CG.
- Lutwyche - new boutique apartments, 489k, 7km from CBD.
- Thornlands - new Townhouse, 391k.
- Fitzgibbon Chase, 3 bed house, 390k, 115sqm
- Victoria point - new 4 bed H and L, 550k, 100m from water
Thanks in advance.
My partner and I are now in a position to buy our 2nd investment property are are looking for opinions on area's in Brisbane.
First, a little about our situation. We are currently 29/31 year old DINK's on reasonable salaries - there is a chance in the next year or two we will be down to one income though. We have a 200k mortgage on out OOP in Tasmania and have used to equity in that to purchase a duplex in Dakabin, QLD. This is positive cash flow.
Our strategy is to Buy and Hold and hopefully set ourselves up for retirement on 80-100k income.
Our serviceability is great ATM and have a ~75k cash deposit so are looking for a purchase price under 500k and need CG to assist in future purchases when we may have a lowered income.
So, we are looking at areas on Brisbane and are thinking along these lines:
Inner ring suburbs ? Near finished OTP in an area that hasn't got a huge amount of stock coming onto the market if possible. We understand our buying power is limited so will most likely only be able to afford 1 bedders and it would be too big a risk to take on a long OTP in case we are on one income.
Middle ring suburbs - House and lands, townhouses, 2-3 bed boutique apartments in small complexes. Obviously aiming to get as close to the CBD as possible within our budget.
We are not experts on the Brisbane market so are interested if anyone has any suggestions, or, initial opinions on the following properties (without me providing a huge amount of info). I have my own opinions but wondering whether anyone thought these were good purchases for CG.
- Lutwyche - new boutique apartments, 489k, 7km from CBD.
- Thornlands - new Townhouse, 391k.
- Fitzgibbon Chase, 3 bed house, 390k, 115sqm
- Victoria point - new 4 bed H and L, 550k, 100m from water
Thanks in advance.