Need to buy another property - where???

T

Tulamalula

All moving along fine with purchase of first IP. As there is a little equity left apparently we can go again, up to $400K

I want IP number 2. No idea where to start looking.

Again, capital gains and as close to neutral gearing, rent and hld for the long term is the strategy.

Can't be in Perth as PPoR and IP1 are both here.

Any ideas anyone?
 
Why cant it be in Perth?

There is a little known area called Logan in QLD which may or may not have potential. Keep it on the LD though
 
You could pick up a 3 bedroom house on a decent size block in the outer burbs of Canberra. Some cosmetic renos should add some value, the yields are decent so holding costs shouldn't be too burdensome.

You can claim stamps in the first year (although we do have land tax).

Rental demand has softened - but I think it applies more to newer stock (like new apartments/townhouses). There's also the fear of APS job cuts which has caused a little uncertainty.

All in all, the market is stagnant at the moment - but I think (and this is only my opinion - lots of others will disagree) it will pick up again in the not too distant future. however, I would still steer clear of new stock - especially off the plan.

Cheers

Jamie
 
Yep. Queensland!

Depends on your strategy though.

SEQ - You would need to move now. Brisbane northern suburbs are pretty hot. You could go for something in Logan, Ipswich, or around Redcliffe.

Regional QLD is probably next, although Cairns is moving a little fast. If you want to get in at the bottom, I would think Townsville. It is further behind the cycle than the rest of QLD.

Or try Adelaide.

Cheers

Jen

(Disclaimer: Content provided here is my opinion only, and not to be taken as financial advice.)
 
Hi tula ,

Pretty sure you must have posted it somewhere the ip you bought.

Just really curious what/where did you buy?
 
Bought a small house on an 850sqm block in Bassendean. Will be negatively geared to start, but can be rented straight away, just a bit of shrub pruning to tidy up the yard. We bought due to the development going on in Town of Bassendean, very impressive, and block size as everything seems to be being chopped up these days. It's not a development block, totally off that idea now.

I was just thinking of mixing up the *portfolio* (of three properties) by not buying again in Perth.

Logan and Ipswich are out for me, just personal, Redcliffe way might be good.
 
Tulamalula said:
All moving along fine with purchase of first IP. As there is a little equity left apparently we can go again, up to $400K

I want IP number 2. No idea where to start looking.

Again, capital gains and as close to neutral gearing, rent and hld for the long term is the strategy.

Can't be in Perth as PPoR and IP1 are both here.

Any ideas anyone?
Click to expand...

North Brissy is starting to move and I think it has plenty of steam in it, early part of the cycle. Don't know about the yields, obviously units will provide higher return

Look at
Zillmere
Chermside
Alderly
Greenslopes
 
Angel said:
She knows what she's doing.
I vote REDLANDS for your specific criteria, or Scarborough Q
Click to expand...

Yeah I like Scarborough, beautiful spot, coastal location with mainly old house's that are screaming for knock downs or extensions to modernise. With no available new land this has already started with old houses taken away and beautiful beach homes built in their place. Low buy in price ATM. Ripple affect from Brisbane. New train line that will be completed in a couple of years, 40 minutes to CBD. I also think it will attact the retiring baby boomers. I found a old fibro 3x1x1 for $320k and rents for $350pw. I was talking Realestate agents when I was looking around and was told that in the last six months two vanact 405m2 blocks where sold one for $340k and the other for $360k these both had houses that where pulled down. I'll hold it for a few years then build a two story house that will have water views. If your looking in the area the hot spots are "East of Oxley". ;)
 
Hi Tula, from your 248 previous threads on where to buy I have circled some locations that will help you narrow down areas based on previous discussions

IhqVBV0.jpg
 
Hi Tula
The only part of Scarborough to stay clear of is the very northern point that is about a metre above sea level. The rest is elevated, some only slightly but most is quite high.

Scarborough is thirty minutes to the airport, a few of my tenants have been FIFO and love the fact they can live here for much less than what it would cost them to live in a similar location in Sydney or Melbourne.
 
Last edited by a moderator:
Tula, for safe, the closer to city the better, the north side of brisbane.

for quick money:
Logan, Gold Coast: Common wealth game and travel industry boosted by low interest rate
Redcliff: new rail line

Don't know why. The grass in other cities looks greener :D
 
Tulamalula said:
All moving along fine with purchase of first IP. As there is a little equity left apparently we can go again, up to $400K

I want IP number 2. No idea where to start looking.

Again, capital gains and as close to neutral gearing, rent and hld for the long term is the strategy.

Can't be in Perth as PPoR and IP1 are both here.

Any ideas anyone?
Click to expand...

MTR said:
North Brissy is starting to move and I think it has plenty of steam in it, early part of the cycle. Don't know about the yields, obviously units will provide higher return

Look at
Zillmere
Chermside
Alderly
Greenslopes
Click to expand...
This was in the same complex as my first property.

http://www.onthehouse.com.au/report...Unit_3,_56_Cedar_Street_GREENSLOPES_QLD_4120/

I bought it in 1994. Great location - close to Greenslopes hospital. Nurses like to live close by. With Coorparoo plans I think it should see some demand and growth.
 
@Dave M - hahahaha, you're a joker.

I like closer to the city, but closer to any city is a unit or townhouse. I tend to like houses, and land, in terms of capital gains how do units closer to a city compare with a house and land past the 15k zone?

Not after quick money, it's a buy, rent hold for this one.
 
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