From: Apprentice Millionaire
I haven't yet settled on my first IP (settling mid May), but I know I must keep my momentum up, and look for the next.
My first IP is in Melbourne, and I am wondering whether I should continue researching Melbourne, or whether I should start looking elsewhere?
I was told to diversify. If my first IP is west of Melbourne, and I look east, am I diversifying? Or should I diversify further afield? Brisbane was mentioned to me because of where it is in the cycle. What about Canberra, Perth, Darwin, Adelaide? Robert's last post on the Sydney rental market might be a signal to look there too?
Personally, I feel quite happy researching my area (Eastern Suburbs) where I can find heaps of info easily. But should I wait till the Melbourne market slumps a little? Or is it again just a question of being in the market and buying well?
Thanks for any advice, information, recommendation, suggestion, hint, anything, really!
Cheers
Apprentice Millionaire
(aka Jacques in the old forum)
I haven't yet settled on my first IP (settling mid May), but I know I must keep my momentum up, and look for the next.
My first IP is in Melbourne, and I am wondering whether I should continue researching Melbourne, or whether I should start looking elsewhere?
I was told to diversify. If my first IP is west of Melbourne, and I look east, am I diversifying? Or should I diversify further afield? Brisbane was mentioned to me because of where it is in the cycle. What about Canberra, Perth, Darwin, Adelaide? Robert's last post on the Sydney rental market might be a signal to look there too?
Personally, I feel quite happy researching my area (Eastern Suburbs) where I can find heaps of info easily. But should I wait till the Melbourne market slumps a little? Or is it again just a question of being in the market and buying well?
Thanks for any advice, information, recommendation, suggestion, hint, anything, really!
Cheers
Apprentice Millionaire
(aka Jacques in the old forum)
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