"bogan" areas??

[Player]

Ditto for me.....spread the land tax love around thereby enhancing one's cashflow.

These days it is not too difficult to become informed about interstate markets with a plethora of resources on the internet, street directories also yield great info from a bird's eye view and with scale, distances are easy to figure out. Panning and measuring tools online offer similar advantages.

Google earth and streetview and all the realestate websites are also great tools. I also use abs.gov.au to gain an idea of the demographic. Some folk buy sight unseen and allow pest/building inspections to inform them further about the purchase. I've never done this, however certainly nothing wrong for those that do....horses for courses. Personally I like to get a feel for the area over a couple of days. Done that with both of mine that are different states.

Certainly much easier today than say 20 (even 10) years ago, when everything was either in the paper or you had to visit rea windows or drive by properties.

 

[Jacque]

For the life of me I can't understand why people look outside their own cities. Wouldn't it be more financially sound to invest in an area you know well where you can mitigate risks instead of looking in a different city. When I see people enquire about these the whole "out of site out of mind" saying pops into mind.

More financially sound? In what way?
Mitigating risk can be done by handing over to a great PM to manage your property or a BA to purchase it in the first place, taking advantage of both their local knowledge and skills.

As far as being out of sight out of mind goes, it doesn't bother me that I've not seen some of my IP's for over 5yrs. I have trust in those managing them that they're doing an effective job and I don't need to physically see the properties periodically to know so.

I only have one IP in the same city and I haven't seen that for over 2yrs. In fact, the most recent inspection was actually two interstate houses (combined it with a holiday).

Land tax is also a real consideration for spreading your risk across more than one state. Them dollars start to add up when your IP's start growing and the thresholds don't!

 

[seanry]

So on that note Jacque,
do u have a BA you'd recommend for brisbane?

 

[Propertunity]

So on that note Jacque,
do u have a BA you'd recommend for brisbane?

Asked and answered here:

http://www.somersoft.com/forums/showthread.php?t=47644&highlight

 

[see_change]

We've bought in Bogan areas and done well with capital gains over shorter periods.

We've been put off areas because of advise from local experts....

We check ourselves now.

part of our ongoing plan is to buy in nice areas for long term holds and then when the market is heating up , buy in bogan areas for shorter capital gains with the aim to pay off on the nicer areas .

Cliff