Hi all,
Thank you for keeping this forum interesting, I came across this site by accident a couple of days ago, I found all the comments in this forum uplifting and motivating.
I have a dilemma and I would appreciate if anyone could give me some advice or comments.
I am considering to buy IP#2, my affordability is dictated by price and yield, unfortunately they are inversely proportional to each other .
I am looking at Melbourne Eastern suburbs only, inner suburbs have always been considered as good investment for growth while outer suburbs are less favourable.
If I were to buy IP#2 in an inner suburb, I have to let go IP#1 (in middle ring suburb), otherwise if I buy in an outer suburb, I can hold onto IP#1. I found it difficult to trade off between “a good quality IP” with virtually no land content in an inner suburb plus low yield or to buy a “not so quality IP” with large land content plus better yield. My heart tells me to buy IP#2 in an outer suburb to keep on track in accumulating multiple properties for retirement with the potential to subdivide in the future, while my head tells me to buy quality not quantity.
Sorry one more question, how much impact do you think the FHOG has on properties <$600K. If decided to buy in outer suburbs, should I wait until FHOG enthusiasm subsides.
PS. My PPOR is in an inner suburb.
I look forward to your comments. Thanks in advance!
PNSInvestor
Thank you for keeping this forum interesting, I came across this site by accident a couple of days ago, I found all the comments in this forum uplifting and motivating.
I have a dilemma and I would appreciate if anyone could give me some advice or comments.
I am considering to buy IP#2, my affordability is dictated by price and yield, unfortunately they are inversely proportional to each other .
I am looking at Melbourne Eastern suburbs only, inner suburbs have always been considered as good investment for growth while outer suburbs are less favourable.
If I were to buy IP#2 in an inner suburb, I have to let go IP#1 (in middle ring suburb), otherwise if I buy in an outer suburb, I can hold onto IP#1. I found it difficult to trade off between “a good quality IP” with virtually no land content in an inner suburb plus low yield or to buy a “not so quality IP” with large land content plus better yield. My heart tells me to buy IP#2 in an outer suburb to keep on track in accumulating multiple properties for retirement with the potential to subdivide in the future, while my head tells me to buy quality not quantity.
Sorry one more question, how much impact do you think the FHOG has on properties <$600K. If decided to buy in outer suburbs, should I wait until FHOG enthusiasm subsides.
PS. My PPOR is in an inner suburb.
I look forward to your comments. Thanks in advance!
PNSInvestor