Tools for First Time Investor

Hi All,

I am planning to buy my first investment property once I find one, I am planning to buy in Brisbane. Have looked at few suburbs in North (Stafford,Aspley,Zillmere) but struggling to find right property. Not sure which one is the best one for me. Looking for a medium to long term investment for capital growth.

I am thinking about flying to Brisbane in next few weeks to have a look around and also thinking about a buyers agent but sounds very expensive.

Can some one suggest what tools (Price finder, investar etc subscription or any reports) i should get in before I fly to brisbane to be more confident and may be able to find right property and make decision without BA. Thanks.
 
Subscribe to API to get free introductory pricefinder login.

Also call Brisbane property managers and ask their opinion. They may get your business so the smart ones will give you the time to talk about the current demand for the type of houses you're looking at.
 
Several of the brokers on this forum provide Residex CMA reports for free. They contain quite a lot of useful information and can be invaluable to your research. The catch is, you don't have direct access to the reports.
 
Hi All,

I am planning to buy my first investment property once I find one, I am planning to buy in Brisbane. Have looked at few suburbs in North (Stafford,Aspley,Zillmere) but struggling to find right property. Not sure which one is the best one for me. Looking for a medium to long term investment for capital growth.

All these items and others suggest that the 10ish k on a BA may be a good investment.

if you dont have the cash, thats one thing of course

I can understand if its not about the money, it may be about learning to fish - yourself.

if its not about learning to fish, and you have the affordability for a BA fee consider that while you may "save x" what value do you place on YOUR time ?

One of the best "tools" as you describe is often a good BA.

ta
rolf
 
Rolf raises a very good point. I bought in Brisbane last year and used a BA. Compared to what it would cost me to fly to and stay in Brisbane for a few weekends, plus time out of the office and the reality that I'm not as good as negotiation, the BA was a bargain.
 
All,

Thanks for your feedback. Affordability is not a problem. I can afford BA fee, the question I am asking myself is it worth sending 10k ish on BA or spend some on to get good data and make a decision myself.

I have selected some suburbs as I mentioned earlier and in process of researching more, but I guess it is more to verify my assumptions and confirmation that I am on right track as I dont have much experience and will only find out how I did after a while.
 
If it was me and I was a first time investor, I would buy in Adelaide. By all accounts from my reading here on SS - Adelaide should be doing well in the future. You already know what the suburbs are like, no need for flying to and fro etc. Would make things easier. Cheers, nat
 
If it was me and I was a first time investor, I would buy in Adelaide. By all accounts from my reading here on SS - Adelaide should be doing well in the future. You already know what the suburbs are like, no need for flying to and fro etc. Would make things easier. Cheers, nat

+1

I have been buying there too even though it?s far away from me..

Adelaide has it all, 6.5-8% yields, actual LAND with the house, councils that let you sub-divide, and suburbs that are coming out of the bottom of the cycle after 5 years. If you live there, you can go and see them for yourself.

If you don?t want to pay a buyers agent, a property manager should be able to tell you what is a good rental property. My Adelaide PM inspects properties for me and comes to opens with me if I?m there, even helps me negotiate and play the game with the agents. Not the same level of research as a buyers agent, but no cost.. and it?s good to teach yourself how to do it anyway.

Having just gone through the process, PM me if you want some contacts I?ve been very happy with the people I?ve used for PM, building inspection, solicitor, broker. I found most of them via the forum too.

Consider your own backyard first, especially if you want to learn as much as possible and get involved in the process.
 
Thanks for your feedback. Affordability is not a problem. I can afford BA fee, the question I am asking myself is it worth sending 10k ish on BA or spend some on to get good data and make a decision myself.

I have selected some suburbs as I mentioned earlier and in process of researching more, but I guess it is more to verify my assumptions and confirmation that I am on right track as I dont have much experience and will only find out how I did after a while.

It sounds to me that you are interested to learn about property investing. Therefore I wouldn't recommend a buyer agent.

If you want to learn how to fish then spend time doing it yourself. There is no point in paying someone else to catch the fish for you.

Can some one suggest what tools (Price finder, investar etc subscription or any reports) i should get in before I fly to brisbane to be more confident and may be able to find right property and make decision without BA. Thanks.
All of those tools are good but they are quite costly and you need to learn how to use them properly if you want to get the most out of them.

Cheers

Andrew
 
+1

I have been buying there too even though it?s far away from me..

Adelaide has it all, 6.5-8% yields, actual LAND with the house, councils that let you sub-divide, and suburbs that are coming out of the bottom of the cycle after 5 years. If you live there, you can go and see them for yourself.

Thanks for the feedback. I am based in Regional SA so not living in Adl itself and from what I have learnt so far Brisbane is likely to grow first compared to Adl. The plan is to buy in brisbane first and second property in Adl once it starts going up on the property cycle.
 
Thanks for the feedback. I am based in Regional SA so not living in Adl itself and from what I have learnt so far Brisbane is likely to grow first compared to Adl. The plan is to buy in brisbane first and second property in Adl once it starts going up on the property cycle.

Sounds like a good plan.

I'm hoping to buy one in Brisbane too with the girlfriend.

As for other tools, have you used the YIP site for suburb data?
http://www.yourinvestmentpropertymag.com.au/top-suburbs/
 
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