Hard work looking for something to buy

Last property was purchased around 6m ago and now back to the drawing board.

I have a passion for property and normally can spend hours, weeks and months searching the right area and house for what i choose to invest in.

Time to start again and im lacking alittle motivation.... dont know where to begin this time.

Cant someone just tell me where to buy and what to buy and make me lots of money.... sigh :)
 
You need to work out if property research is your current hobby or not. If it is, then no worries. You spend what you would have spend hanging out at the pub or shopping for clothes, on scooting about sifting through property. Sounds like presently you aren't overly inspired, so you go to your second wave of decision.

You ask yourself if it is cheaper to outsource the thinking. For instance, if you can earn more just turning up to your normal job that you are good at, and you can pay someone else to research, hunt around, and spend their own money on petrol finding you a property that takes you closer to your financial goals, then that's the more appropriate decision. Naturally you would have the suitable conversations to satisfy yourself that the person you are outsourcing to will take you forwards towards your investing goals, and that you feel comfortable with them.

Either way, tread carefully. When you get yourself all tired and fatigued, it can be all too easy to make rash decisions that turn out to be very expensive in the long term.
 
Thanks jac that is also an option I just normally LovE the search.

Strongy - lucky you. I need to expand where I'm purchasing as I have all in qld one in nth nsw. Where do you look :)
 
Thanks jac that is also an option I just normally LovE the search.

Strongy - lucky you. I need to expand where I'm purchasing as I have all in qld one in nth nsw. Where do you look :)

Just about everywhere

My favourite at the moment would be Brisbane but you seem to have some there
Adelaide isn't too shabby - gets a bad wrap , mostly from people who have never been there. Bit hard to find big blocks though
Dare I say it .... Hobart ( pretty good yields and bargain basement prices). Maybe lifestyle locations in Tas will have better gains but it will be more work to get the required yield
 
I am also in the same boat as you, spent the last 6 months looking, and still looking..

Agree, we ahve been looking for 5 months and it is hard finding a property or a block of land where the numbers work OR that you can do something with.


Sheryn
 
Strongy - when you say brisbane do you suggest Logan area. It has been good due to low prices and yield.

South Australia - that's been in my options down christies beach side of town just not great rent like Brisbane area. I'm originally from there, also prices are about $100k extra. Would love to buy subdividable block but not many good ones out there

Hobart - never thought of tassie so will have a look Into it

Interesting.
 
I suggest working out a system and sticking to it. You need to keep yourself motivated so use methods you enjoy, or get yourself a magazine subscription if you haven't already.

I like to think of it as a process of elimination, and tend to use a combination of top down and bottom up approaches to zoom in on a property.

I have a thing for data, which I use as a 'funnel'. For example, the Market Indicators in the back of the API magazine help to work out where various areas are in terms of the cycle, and also the monthly Herron Todd White reports are good. I also scan lead indicators such as vacancy rates, stock on the market and rental data (e.g. RTA in QLD).

Once you work out a general area, have a look at the State Government and local council plans, zoning and flood maps. These can save you a lot of research.

I also use a realestate.com.au search using key words to help find an area with the kind of thing you are looking for. For example, try doing a search across a whole state, and just putting in the search term 'yield' or 'sub-divide' and then sort by suburb. You can soon get an picture of where the opportunities are that suit your strategy. Use the suburb profiles to jump between suburbs and compare supply and demand data and growth patterns.

I also find that maps are also a great to narrow down an area. If you get your hands on a good flood map, you can eliminate most areas before you've even started. Also check transport corridors etc. I also check the Myschool website for school results and catchments.

A useful website for researching suburbs, schools etc. is http://house.ksou.cn/suburb.php.

Cheers

Jen
 
Strongy - when you say brisbane do you suggest Logan area. It has been good due to low prices and yield.

South Australia - that's been in my options down christies beach side of town just not great rent like Brisbane area. I'm originally from there, also prices are about $100k extra. Would love to buy subdividable block but not many good ones out there

Hobart - never thought of tassie so will have a look Into it

Interesting.

Have u spoken to your Logan agent? I saw both of mine yesterday and both said activity has greatly increase both from Logan over to the Beenleigh area,

Have you looked at Toowoomba? Good yields and also a rising market, dd will confirm this, rentals also very tight, tighter than Logan IMO
 
Strongy - when you say brisbane do you suggest Logan area. It has been good due to low prices and yield.

South Australia - that's been in my options down christies beach side of town just not great rent like Brisbane area. I'm originally from there, also prices are about $100k extra. Would love to buy subdividable block but not many good ones out there

Hobart - never thought of tassie so will have a look Into it

Interesting.

To be honest I would rather spend 350 in a Bay Area than 200 in Logan
It's a long way from the city and will always be one of brisbanes cheapest suburbs
Or maybe 350 around nudgee, Banyo
Carina (had a bit of a jump recently)

The thing about Brisbane is that you can invest in good suburbs for other states outer suburb prices. Also wages there are'nt that bad so has to catch up soon

Also it's easy to say wow you can get 7.5% yield in Logan but the cheaper the property the higher the percentage of expenses
 
Just had a look at those areas I suggested and it seems the ship is sailing
A lot under contract in Banyo

4 months ago when we were looking there was no action in any of these suburbs
 
I would say the ship is well and truly sailing in Toowoomba. Depends what you are looking for, but it is hard to find anything with a decent yield.
 
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