Yarrabilba

[Fungus]

Hi everyone,

I'm new to the forum, but have been keeping an eye out out on the forum for the last couple of months. I've been wanting to invest in property for a long time, but haven't had the opportunity finance wise until recently. I'm completely new to property so you guys might need to bear with me while I learn!

My ultimate goal is to build up a decent size portfolio over the next 5-6 years - 3-4 properties if that's realistic? I think at this stage the best option is to opt for capital gain so I can use the equity to build up the portfolio. Would still like to return a positive cash flow eventually.

I'm looking at spending up to $500k (preferably more around the $400k mark). Have been looking around Sydney (preference to house) but as everyone knows I'm pretty much priced out of the market.

I have recently been looking at Brisbane (as is most people here it seems), and possibly around Melbourne. One of my colleagues parent is an agent in Qld and has suggested looking at Yarrabilba Estate as an option. It looks like a good option - 4 bedders around $400k, but I'm worried about capital growth and whether I can get enough people interested in renting as it's 40km from Brisbane.

What are people's thoughts on Yarrabilba? I did a search and no one has really mentioned the potential. Am I better off buying closer to Brisbane?

Appreciate any input you may have. Thanks in advance!

 

[NPB]

Hi everyone,

I'm new to the forum, but have been keeping an eye out out on the forum for the last couple of months. I've been wanting to invest in property for a long time, but haven't had the opportunity finance wise until recently. I'm completely new to property so you guys might need to bear with me while I learn!

My ultimate goal is to build up a decent size portfolio over the next 5-6 years - 3-4 properties if that's realistic? I think at this stage the best option is to opt for capital gain so I can use the equity to build up the portfolio. Would still like to return a positive cash flow eventually.

I'm looking at spending up to $500k (preferably more around the $400k mark). Have been looking around Sydney (preference to house) but as everyone knows I'm pretty much priced out of the market.

I have recently been looking at Brisbane (as is most people here it seems), and possibly around Melbourne. One of my colleagues parent is an agent in Qld and has suggested looking at Yarrabilba Estate as an option. It looks like a good option - 4 bedders around $400k, but I'm worried about capital growth and whether I can get enough people interested in renting as it's 40km from Brisbane.

What are people's thoughts on Yarrabilba? I did a search and no one has really mentioned the potential. Am I better off buying closer to Brisbane?

Appreciate any input you may have. Thanks in advance!

Hi Fungy,

Yarrabilla is a lend lease estate , a long way as you said from Brisbane city. It is not an area we would recommend for a number of reasons, the main ones being the lack if scarcity in those new estates and the availability of much better ( in our opinion anyway) options closer to the city with more capital growth potential.

Many first time investors make a mistake on their first purchase and the lack of capital growth severely restricts their ability to build the portfolio. Common mistakes include buying:

* An overpriced Off The Plan property
* Student Accommodation
* House and Land Package in wrong area
* Serviced Apartment
* Holiday Rental

This first purchase is to be the foundation of your property portfolio so you need to get it right.

Good Luck on your journey.

 

[Fungus]

Hi Fungy,

Yarrabilla is a lend lease estate , a long way as you said from Brisbane city. It is not an area we would recommend for a number of reasons, the main ones being the lack if scarcity in those new estates and the availability of much better ( in our opinion anyway) options closer to the city with more capital growth potential.

Many first time investors make a mistake on their first purchase and the lack of capital growth severely restricts their ability to build the portfolio. Common mistakes include buying:

* An overpriced Off The Plan property
* Student Accommodation
* House and Land Package in wrong area
* Serviced Apartment
* Holiday Rental

This first purchase is to be the foundation of your property portfolio so you need to get it right.

Good Luck on your journey.

Thanks NPB.

Yeah, the scarcity was something I was worried about with still so much development left. And I think it'll be a struggle to get tenants in with a large number of properties for rent in the area (had a quick look).

I definitely would like to invest closer to Brisbane city, but I live in Sydney which makes it harder to work out suburbs. Do you have any particular suggestions of areas I should focus more on?

 

[NPB]

Thanks NPB.

Yeah, the scarcity was something I was worried about with still so much development left. And I think it'll be a struggle to get tenants in with a large number of properties for rent in the area (had a quick look).

I definitely would like to invest closer to Brisbane city, but I live in Sydney which makes it harder to work out suburbs. Do you have any particular suggestions of areas I should focus more on?

http://somersoft.com/forums/showthread.php?p=1256730#post1256730

Some suggestions in this thread.