Where to buy for next IP? Local or Interstate?

[luckything]

Hello,

I recently found this forum and think that this is a very informative forum.
Thanks for all the contributors.

At the moment, I've a dilemma about where to buy next.
Currently, I have 4 properties (1 ppor + 3 ip). All in VIC.
I am thinking to buy 1 more, but still undecided whether to buy in VIC or other state.

The reason for me to buy in VIC, so I can check and control it (although my IP are managed by PM). 2 of my current IP is located within 10km from my PPOR (outer east/outer south-east melb.)

But I do remember a philosophy, "don't put all your eggs in the same basket".
I myself want to buy close to my PPOR again (in VIC). Not sure that this is a good idea. The land tax is going to cost more now, as well.

If I bought an IP interstate, I'm not quite convinced that who's going to look after the property. I cannot depend on PM interstate. At the end of the day, I cannot trust 100% the PM.

So, now I'm in a bit dilemma to choose between VIC or interstate.
Any suggestions?

 

[DaveM]

Hows your land tax looking?

 

[rabidz]

Welcome luckything.

Congrats on your achievement!

If I bought an IP interstate, I'm not quite convinced that who's going to look after the property. I cannot depend on PM interstate. At the end of the day, I cannot trust 100% the PM.

I second this.
Even, sometimes I checked my IP myself, because at the end of the day it's you who responsible for everything as landlord.


In regards to your question, if I were you I will still buy IP in VIC Metro.
Maybe spread a little bit in North or West (since you already have in South-East).
Just my 2 cents.

 

[norwoodman]

Is being able to go and physically see your properties really a sound way of making investment decisions? By Victoria, do you really mean Victoria or just metropolitan Melbourne?