2nd IP Where to Buy

Hello,

I am based in Perth had have fairly stable and secure job.


Bought PPOR in Landsdale 5 years a go and 1st IP in Logan last year.

Now have got enough equity + offset to purchase my 2nd IP.

Currently looking for IP around 500K in northern suburbs (Innaloo, Stirling, Yokine etc.)

As I am based in Perth my 1st preference would be to buy in Perth however I am open to suggestions on investing interstate.

Long term strategy is to build a property portfolio of around 3-5 properties in next 4-5 years.

Please share your thoughts/ideas

Cheers

 

Middle ring Brisbane, older home on 600+sqm in an OO desirable area, Property has add value potential and great bones. Make offers of multiple similar deals until one sticks.

If you can sneak in now in a desirable suburb with larger land content, older home and get it a decent price, you can add value later on as Brisbane grows and theses types of dwellings will be in huge demand. 405sqm new builds are selling for 1.2-1.6+m depending how close to the CBD. So if you nab a 600+sqm block in a good area with older home, later on you reno the crap out of it and suddenly you have a great modern family home on a lager block in a good area. You'll be holding an in demand gem.

That's 1 way to go, there are others.

 

Plan to stay in Lansdale as a PPOR for the longterm? If not, now is a great time to upgrade your PPOR to a "nice" suburb.

 

I would be staying in Landsdale for few years atleast

 

@Leo2413 Which suburbs you would reckon to buy in Brisbane around 550k mark?

 

QLD - Brisbane looks good
Last maybe 10 or 20 pages has a lot of recommendations for different prices and locations.
Beginning of thread is too old and will have a lot less relevant information - plus can't imagine the suffering of reading 400 pages.

 

@Anthony Brew Hi Mate thanks for that. I have been already looking and reading through the forum

 

As close to the CBD that my $550 will get me, on a block of land 600+sqm if possible. Older house but easily rentable with 100% room to add value.

 

Make sure you're not using the cash direct for the IP purchase if you still have debt on your PPOR.
Paydown the PPOR and get the funds back out, debt recycling/tax deductible.

I don't know the Brissy market well, but I know that $500k goes a long way in Adelaide.

 

@Brady I have been looking into Adelaide as well.

 

@Leo2413 Thanks for that. Will definitely keep in mind