Looking to invest $250-300k, having trouble with the where part.

I like the idea of Werribee but I'm afraid I already hold one property in Vic that sits at around $320k, and if I invest there again my land tax might get a little high? So I'm looking for potential growth towns to research.
I've been looking at Tassie for a month or so but haven't found anything great yet. Put in a few offers that were rejected.. And was about to sign a contract on a nice near new 3 bedder in Moonah that I was told rents really well by the agent, but other PM's told me otherwise so didn't go ahead with that one.

I also looked at Orange as its a supposive "boom town".
But I soon found that to be quite speculative as the agent called me back within minutes (never a good sign in my experience) and was honest with me saying that there are a lot of sharks out that way and he sees Orange as speculative and has many problems such as water may run out next year, He told me to be very cautious so I was thankful I came across that advice first up.

I'm stumped at where to look next? I'm really searching for a decent rental yield and my main priority lies with capital growth. I'm still searching every day but to no avail as yet. Can anyone possibly offer a suggestion or two? I'm specifically looking for a house, possibly with granny flat or something different, not too keen on more units as STRATA fees really eat cash-flow. But I'm still open to the idea if rents make up for this.
 
I'm in the same boat. It was funny reading your post - it pretty much sums up my train of thought while I search for the next IP.

I started looking in SE QLD, then decided I wanted something CF+ due to the high possibility of moving to a single income when we begin having kids.

I'm now looking at regional NSW - somewhere close(ish) to Canberra where we can drive up and spend a full week carrying out some basic renos.

I've had a quick look at Orange (nothing too in-depth) and still can't put my finger on why this is a so-called "hot-spot". From what I understand, it's a crime ridden two-tier society of poor druggies and rich snobs (apologies to those from Orange - it is a hugely generalised statement). I know there's some mining going on...but is there anything else that backs up these claims?
 
Go North

Why not try the Northern suburbs of Adelaide. With that sort of money you could have a port folio of properties and plenty of tenants wooing for your houses.
 
Why not try the Northern suburbs of Adelaide. With that sort of money you could have a port folio of properties and plenty of tenants wooing for your houses.

I'm listening, where are these northern suburbs you speak of and what are they called? Well, I know where they are but lets just cut to the chase and find out what they're called
 
I know there's some cheapies up in Salisbury and Elizabeth. I mentioned to a mate in Canberra who's originally from Adelaide that I was looking at houses in this area - he just shook his head in disgust :)
 
Salisbury i would buy into over Salisbury, but yeh... plenty out there.

Type in Salisbury into whereis.com.au, and just look at the surrounding suburbs. Can get yourself a unit there for around $150k, with rents between 160-180.
 
north of adelaide is good, also with the northern expressway coming through. elizabeth, salisbury. you also have gawler, evanston with low vacanices also.

you could also try gladstone in qld if you get in quick before prices shoot up again.
 
I just googled a street name in Orange where a house is listed and the word "crime" - it wasn't a pretty search result :(
 
Hey Tess,

I'm keeping my eye on the place. Some of the houses are ridiculously cheap - I'm sure there's a good reason. Might go for a drive up there to check it out.
 
Hey Tess,

I'm keeping my eye on the place. Some of the houses are ridiculously cheap - I'm sure there's a good reason. Might go for a drive up there to check it out.

nothing special rent returns seem pretty normal would rather rockhampton in qld.
I have never set foot in orange.
 
Thanks everyone.

After a very long search, I've purchased a 3 bedroom villa with a yield of 6% in a high capital growth area on the Gold Coast.

I couldn't bear to purchase in a small country town but almost did out of sheer desperation.. I came to my senses eventually though ;)

I've now hit the $2Mil mark! I never even dreamed I'd get this far so soon, it's a great feeling.

Cheers and thanks again :)
 
I'm stumped at where to look next? I'm really searching for a decent rental yield and my main priority lies with capital growth. I
I was looking at Blackwater and Dysart Queensland,
Prices are down at the moment cause of the the mine slowdowns.Very high rentals,and most come with a lease signed already. Dysart rental is normally $1100 week:D for buys around the $300K-350K.If you need more info or a local to call,PM me:p
 
I was looking at Blackwater and Dysart Queensland,
Prices are down at the moment cause of the the mine slowdowns.Very high rentals,and most come with a lease signed already. Dysart rental is normally $1100 week:D for buys around the $300K-350K.If you need more info or a local to call,PM me:p

looked at a duplex pair in middlemount however it was vacant rent was $700 a week each when tennanted just leased back out at $600 for each unit

mine slow down worried me so didnt go ahead as when mines go so does the town being a local sure you would know that.

stilling pondering one in dysart....
 
looked at a duplex pair in middlemount however it was vacant rent was $700 a week each when tennanted just leased back out at $600 for each unit

mine slow down worried me so didnt go ahead as when mines go so does the town being a local sure you would know that.

stilling pondering one in dysart....

Dysart is pretty secure with more growth already underway,Huge rents normally.
Middlemount not so secure,smaller town,:confused:
Blackwater,larger town more secure lower rental return.
Mine slow down I believe is short term,but if you buy with a lease already,whats the risk?
 
Dysart is pretty secure with more growth already underway,Huge rents normally.
Middlemount not so secure,smaller town,:confused:
Blackwater,larger town more secure lower rental return.
Mine slow down I believe is short term,but if you buy with a lease already,whats the risk?

I grew up in blackwater and know what happens when mines go belly up
with that said I was quite suprised it has kept going this long plus mum says it's all gonna go to hell few months back blackwater as always had mini booms and busts this one seems to be the mother off all of them so far still going damn knew I should of bought them houses when was 18 no one wanted:(
 
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