Hi guys,
I'm about to purchase my first IP!
My budget is $400K and I'm looking to buy within the 10km ring of Brisbane. I'm from Sydney so I don't know too much about the area and making my first trip up to Brisbane this Saturday to check out some properties.
The main areas I've been researching are:
- Annerley/Greenslopes/Coorparoo area
- Hawthorne/Morningside area
- Paddington area
One of my concerns was that many of these properties that came within my budget looked quite old - 1970/80's, and was worried with so much development going on in these areas that an old property would be hard to tenant and may lack capital growth in the future.
Also, what are your thoughts on purchasing a newer one bedder in any of these areas? I'm looking to buy and hold for the long term and looking for capital growth that also have a yield of 5% or more.
Basically, with my budget I could purchase an old 2 bedder in these areas or a newer 1 bedder. What do you think would have the better long-term capital growth, demand and yield? Is there much difference or am I just over thinking the issue?
Any advice would be much appreciated!
Many thanks,
Taku
I'm about to purchase my first IP!
My budget is $400K and I'm looking to buy within the 10km ring of Brisbane. I'm from Sydney so I don't know too much about the area and making my first trip up to Brisbane this Saturday to check out some properties.
The main areas I've been researching are:
- Annerley/Greenslopes/Coorparoo area
- Hawthorne/Morningside area
- Paddington area
One of my concerns was that many of these properties that came within my budget looked quite old - 1970/80's, and was worried with so much development going on in these areas that an old property would be hard to tenant and may lack capital growth in the future.
Also, what are your thoughts on purchasing a newer one bedder in any of these areas? I'm looking to buy and hold for the long term and looking for capital growth that also have a yield of 5% or more.
Basically, with my budget I could purchase an old 2 bedder in these areas or a newer 1 bedder. What do you think would have the better long-term capital growth, demand and yield? Is there much difference or am I just over thinking the issue?
Any advice would be much appreciated!
Many thanks,
Taku