Have I missed the boat?
- Thread starter m.sewell
- Start date
Personally I think toowomba is just getting started and as for Brissie, well there seems to be more starting to happen now in the outer burbs, so now would be a good time to get in. I am also only referring to lower priced properties, I also wouldn't be paying more than 300 for a house ATM in toowomba but that's just my opinion
Reasons for buying??
Im looking at building up my portfolio in the next 5 years. At the moment I have a high income mining job. I want to leave the mines in the next 5-8 years. I have two properties in Rockhampton, one IP and other PPOR and one apartment in Brisbane. Both IPs have good cash flow but not showing much growth. My next couple of purchases I would like a good mixture of capital growth and cash flow. However would prefer more growth as high income can service loan.
Inner Brissie is booming, if you have the cash then just buy next suburb out, it's only a matter of time the cg will come just don't buy a apartment...., less risk and faster growth than Toowoomba
Thanks classclown. What suburbs do you suggest?
What's the income you require to leave the mines in 8 years time and whats your property investment strategy for attaining it?
I'd be looking north before sth IMO But it maybe too hot already and I don't know what your budget is
http://somersoft.com/forums/showthread.php?t=99380
Long term I don't think you gonna go wrong either way the compass points just try to stay in nice and close
Others may disagree but I doubt it....
http://somersoft.com/forums/showthread.php?t=99380
Long term I don't think you gonna go wrong either way the compass points just try to stay in nice and close
Others may disagree but I doubt it....
Ideally one should work out exactly what their income goal is then work backwards to present day with the step by step strategy for attaining it. Each step becomes a sub-goal along the path to the ultimate goal.
Think of it like a ladder and what you are trying to attain is the top rung. You must also attach a time frame to reach the top along with time frames for each step up the ladder along the way.
It is crucial you attached time frames, for without the time frame there will be no call for action by you to attain the goal/s. The sub goals & their time frame act as points for reference to ascertain if you are on track and with the required momentum to attain success.
If your top rung is to attain financial independence, then you need to sit down and quantify in dollar terms what that figure is for you.
Ask people what Financial Independence is most people will struggle to define exactly what it is.... They may come up with a figure from the top of their head but most will have never sat down to work it out.
The best definition of Financial Independence I have found to date is, when your passive annual income figure is equal to or greater than your annual ideal lifestyle expenses.
I hope this helps.
Think of it like a ladder and what you are trying to attain is the top rung. You must also attach a time frame to reach the top along with time frames for each step up the ladder along the way.
It is crucial you attached time frames, for without the time frame there will be no call for action by you to attain the goal/s. The sub goals & their time frame act as points for reference to ascertain if you are on track and with the required momentum to attain success.
If your top rung is to attain financial independence, then you need to sit down and quantify in dollar terms what that figure is for you.
Ask people what Financial Independence is most people will struggle to define exactly what it is.... They may come up with a figure from the top of their head but most will have never sat down to work it out.
The best definition of Financial Independence I have found to date is, when your passive annual income figure is equal to or greater than your annual ideal lifestyle expenses.
I hope this helps.
Hi, sorry to hijack, a question here -"just dont buy a apartment' - is a townhouse with low body corp fees, no pool, no gym, come under this category? Thanks.
I use a software program which calculated mine out to be $100k..
You need to sit down & calculate what yours is, so your conscious mind can start programing your subconscious mind into going out & making it all happen.
Success is 80% mindset x 20% strategy. In other words how you think is 4 times more important than how you plan to do it.
All this may sound like pie in the sky stuff to you at this point in time however this is due to your unconscious incompetence. As time goes by and education/experience level increases you will begin to realise what it's all about. In the mean time you just have to have faith in what others further down the investment track are suggesting you to do.
I hope this helps.
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Sorry I will admit that that was a slightly biased statement
as I would only ever by for land content....Sorry dude I don't know what you should buy
There has been a lot of talk of oversupply of unit dwellings in Brissie forecasted , maybe just investigate further
http://www.propertyobserver.com.au/...erm=0_a523fbfccb-22332a2f24-245478661&start=1
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Wealth Sabotage is the best for helping you with setting financial goals and monitoring your progress..
Wealth Sabotage is a package that Dale co-wrote with his son, James Gatherum-Goss of Melbourne based accounting firm House of Wealth. It is available on CD or as a direct download, and combines a 44 page booklet as a PDF along with a series of very powerful spreadsheet tools enabling you to be your own financial architect/engineer.
Dale is well known for simplifying difficult and complex matters such as tax and trusts; and here he takes the mystery out of financial planning. The Wealth Sabotage package is designed to help you with setting financial goals and monitoring your progress whilst explaining why so many people do not succeed in achieving their financial goals. It is also the first time that Dale fully explains, in writing, the concept of "Investment Schizophrenia" that he has spoken about for so long.
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I don't think you are too late on Toowoomba or Brisbane for that matter.
Toowoomba has posted some gains in the past 12 months but there is plenty of infrastructure coming into the region. Airport, bypass and possible inland rail link will see this region prosper well into the future.
I would avoid inner city Brisbane apartments and toowoomba units in general.
Cheers
Cash Flows
Toowoomba has posted some gains in the past 12 months but there is plenty of infrastructure coming into the region. Airport, bypass and possible inland rail link will see this region prosper well into the future.
I would avoid inner city Brisbane apartments and toowoomba units in general.
Cheers
Cash Flows
Providing all the underlying fundamentals remain the same, how any particular suburb has performed over the past 10-15 years will give you a pretty good indication on its future performance.
Have you checked those, and what have you found?
