Newbie looking to build a property portfolio???

[canbguy]

Hi All,

I am wanting to start investing in the property market and ideally would love to buy blocks of 3 to 4 unit developments around the country. I have seen a few that are currently tenanted and have pretty good returns but as I have never thought about investing outside of capital cities this is becoming a very daunting task as I dont want to (a) make a bad choice in location and (b) dont want to have to work forever to recoupe losses from a bad investment decision. I have started researching some areas and have so far culled the list down to the following:

Albury (NSW)
Lavington
Dubbo
Cowra
Parks
Tamworth
Griffith
Traralgon (Vic)
Sale
Mildura
Maryborough (Qld)
Norville
Kingaroy

If you have IP's in any of these area's or live in these areas or are a property manager and want to assist me in the purchase of a property in your area or if you have simply researched the area and have a good understanding of the market either good or bad I would be very grateful for the help/info/advice given.

Ideally id like to make 2 purchases of blocks of 4 units im in no hurry to purchase but I guess being my first property investment purchase im being perhaps overly cautious.

Thank You in advance guys

 

[Property Meister]

do you have the available equity/cash/access to equity?

 

[yorkiefish]

Hi All,

I am wanting to start investing in the property market and ideally would love to buy blocks of 3 to 4 unit developments around the country. I have seen a few that are currently tenanted and have pretty good returns but as I have never thought about investing outside of capital cities this is becoming a very daunting task as I dont want to (a) make a bad choice in location and (b) dont want to have to work forever to recoupe losses from a bad investment decision. I have started researching some areas and have so far culled the list down to the following:

Albury (NSW)
Lavington
Dubbo
Cowra
Parks
Tamworth
Griffith
Traralgon (Vic)
Sale
Mildura
Maryborough (Qld)
Norville
Kingaroy

If you have IP's in any of these area's or live in these areas or are a property manager and want to assist me in the purchase of a property in your area or if you have simply researched the area and have a good understanding of the market either good or bad I would be very grateful for the help/info/advice given.

Ideally id like to make 2 purchases of blocks of 4 units im in no hurry to purchase but I guess being my first property investment purchase im being perhaps overly cautious.

Thank You in advance guys

i'd stick in wagga wagga as well, i have 3 units in south albury which are all tenanted and cash flow +. lavington is a good area to check out as well.

 

[Gools]

I'm struggling to workout why you want to minimize risk but are happy to buy them 3-4 at a time in the one area. If you want to reduce the chance of picking a bad location wouldn't you be better off buying singles units in more locations?

That's what I would be doing if I hadn't worked out a good location (well located, lower prices compared to similar areas etc.)

Gools

 

[Nathan]

All good areas as long as the numbers stack up

 

[james_w]

Not a bad list although I tend to stay away from maryborough have invested 5mins out though in aldershot done quite well there

don't know why have been living around herveybay/maryborough for 10yrs

just never liked the place what's the go with all the post about kingaroy

lately yeah theres a mine there but youd be better throwing your money in emerald/dysart/blackwater and my favorite rockhampton areas

in toogoom someones selling 1 bedder housing with land content for around $235000 brand newies believe the land is around 700sqm+ with enough room to put on a house later on.

still can't understand why toogoom places are still so cheap it's got everything not far away daily transport and beach around the corner...

bloody block on the market for offers over 110 I have stepped on this block it's a stones throw from the beach sewered town water and fenced on two sides and been sitting on the market forever lol no it aint mine in case your wondering...
__________________________________________

this is my opinion of course so take it with a grain of salt

 

[canbguy]

Hi Property Meister,
Yes have access to the necessary funds/equity required.

 

[gg1965]

I've got a couple of houses in some of the towns you mention (the regional NSW towns).

I have no issues at all with them and they are coming along just fine. I am not getting capital gains that one may get in the city, but i am getting positive income from a number of them.

This is for houses though - not apartment/units or blocks of units. I have looked at whole blocks of units in some of these key towns and as soon as i find a complete block that has the right numbers then i will most likely jump on it. I won't buy individual apartments/units though.

To sum up, yes some of the nsw regional towns you mention have been good for me, but only for houses at the moment.


thanks


g

 

[newlywed1311]

Mildura

I live in Mildura. Happy to provide you with information about our city if you have any questions.
Cheers,
Jacinta

 

[amaljaya]

Albury

i'd stick in wagga wagga as well, i have 3 units in south albury which are all tenanted and cash flow +. lavington is a good area to check out as well.

yorkiefish,

I saw your post about the properties you own in Sth Albury and thought of checking the area out. It seems like an interesting area with both high end and low end properties and some of them cash flow positive from the start. However I was taken back when I noticed the number of vacant properties on the market.

What are you thought on the vacancy rate in the area?

Have you ever had your IPs vacant or long period of time?

Are your IPs houses or units?

Would you recomend me buying in the area?

Thank you in advance!

amaljaya