I'm about to start

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From: Sue Foster


I have skirted around IP for too long and have decided to take up this new hobby!

I am about to look at property in Townsville and I am very nervous.

Does anyone have advice regarding the area of Townsville and/or, steps for the newbie.

Cheers
Sue
 
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Reply: 1
From: George M


Sue,

i've got to tell you i'm not fond of regional markets.
they generally have transient or one source of employment and this is what sustains growth.
i would be concentrating my efforts around the CBD, it may be a little more to start but
if what you buy doesn't go up you have waisted time and money

good luck

George
 
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Reply: 1.1
From: Trina Blum


Hi,

I too am about to start buying IP's and have narrowed down to which suburb in Perth I am going to buy in and the type of property. What I would like to know is how long should I research the prices before actually getting serious about buying i.e. if I find one I think is right? I don't want to jump in too early and then find I didn't do enough research to make sure I was buying at the right price.

Should I look for 2 or 3 months - is that too short or too long a period? Or perhaps I should look at a certain number of properties? Perhaps some of you experienced investors could point me and other newbies in the right direction with your suggestions or the length of time it has taken you to find your IP's.

My suggestion to other newbies from things I've read is to buy below the median price for whatever area you are looking at.

Regards
Trina
 
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Reply: 1.1.1
From: Ctrader .


Some suggest you look at at least 50, preferably 100 properties before you buy so that you get a feel for your market.
Can you look at property and tell if you are buying value? If not, you may need to spend some more time looking. I don't think setting a time frame is the answer, but getting the skill to see the deal.

Good luck
 
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