IP advice in Canberra

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From: Anonymous



I am very new to the IP game and am a permanent resident in Canberra.

Can anyone offer me a contact name of a reputable property advisor in the Canberra region? I would just like some independent advice in the area.
 
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Reply: 1
From: Geoff Whitfield


Anonymous,

The people who really know real estate might suggest you invest in Sydney or Melbourne (not Canberra or even Brisbane). Historical capital growth in SYD or MLB has far exceeded CBR or BNE.

Having said that, there are many on the forum who invest there. Look for postings; get on the chat and talk to CBR ppl; look out for Freestyler meetings and Cashflow games.
 
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Reply: 2
From: Will G


Hi Anonymous,

I am an IP Investor in Canberra.

Is there anything I may assist with ?

Cheers,
Will
 
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Reply: 1.1
From: Tony Dixon


Geoff Whitfield wrote:
>The people who really know
>real estate might suggest you
>invest in Sydney or Melbourne
>(not Canberra or even
>Brisbane). Historical capital
>growth in SYD or MLB has far
>exceeded CBR or BNE.

Geoff,
I found this comment a little grating.
I am certainly a relative novice to the PI game but the suggestion that those "who really know RE" would only invest in the major cities seems arrogant to me.

(I realise these comments may or may not be your personal feelings and you seem to be attributing them to other forumites.)

It seems to me that the smaller cities offer an ideal opportunity to learn the PI game.

It's certainly a lot cheaper to get started.
Some people simply can't afford to invest in MEL or SYD! (Yet). I know I can't. But that doesn't mean I can't be a successful investor in a smaller city.

There are also the risks associated with inexperience and financial position. With my current knowledge and current financial position, the thought of buying a $400k+ property scares the crap out of me! And the banks wouldn't touch me yet either.

But I want to get to the point where I *can* go out and buy prime RE with confidence in my knowledge of the market and the enthusiastic backing of my financiers.

To use Cashflow terminology, I want to do a number of small deals before I attempt the big deals.

Just my opinion based on my personal risk and financial profile.

If other forumites can point out the error of my ways then please do!

cheers, Tony
 
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Reply: 1.1.1
From: Geoff Whitfield


Tony,

My apologies if my post grated. It was certainly not my intention- and your points are valid.

My advice to invest in Melbourne or Sydney for better capital growth was from a financial advisor who frequents the forum. It's not advice I had followed in the past- I think my cap growth would have been a lot better there than in Brisbane or Canberra where I have previously invested.

Geoff
 
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Reply: 1.1.1.1
From: Tony Dixon


Hi Geoff,

No need to apologise. I just read that single sentence and got a tad grumpy.

>My advice to invest in
>Melbourne or Sydney for better
>capital growth was from a
>financial advisor who
>frequents the forum. It's not
>advice I had followed in the
>past- I think my cap growth
>would have been a lot better
>there than in Brisbane or
>Canberra where I have
>previously invested.

Hmmm... is this really true? Or a myth?

I mean, apart from the past few years when the MEL and SYD markets have been crazy and my 9mth old son could have picked a winner, is the long-term growth of these cities much greater than ADL, PER, CBR or BNE?

I don't study these markets so I don't know.
There was an API article recently verifying this trend over the past few years (Hobart was negative from memory), but I don't know anything about the long term.

Someone got data to support that?

Probably the long-term city-wide averages are better in SYD & MEL, but what about the prime suburbs in each city?

Looking at the Perth market there are a number of suburbs that have averaged >10% growth over the past 30 years.
See
http://www.reiwa.com.au/content-suburb-30Year-Trends.cfm
for Annual Growth since 1971.

Have individual suburbs in other major cities grown much greater than that over the past 30 years?

cheers, Tony
 
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