Any clients of Destiny financial solutions or Margaret lomas? Need your feedback

Right I see now, I thought you mean't purchasing close to the CBD, say 10Km away. 30/40Km out of course you can. You can still do this in Brisbane.

 

Seems you didn't learn much from the course.

 

Yes and no to be honest. The course was too high level in my opinion. It was a bit like learning to drive you only really learn once you pass your test. The course missed a lot of vital information and the strategy was flawed.

 

Um Lawrence, I think you and I had the same problem. In my case, buying in 2010 and not making any money for six years wasn't because any education I had was flawed, but because the economy changed in a way that I did not consider.

My budget was higher than yours and I couldn't get any house in Brisbane for the low $400ks, so I bought 30 klms out (north). For the next two or three years, all my properties including our PPOR dropped, then flat lined and only returned to their former value about 2016. I am kicking myself for not being in a position to buy all those yummy inner 10k homes in 2013 and 2014 that have increased significantly in the last two years.

The posters on this forum who have made heaps of $$$ in the last few years either bought in the outer suburbs a few years post 2010, or had high enough incomes to be able to purchase higher priced and low yield non-flood properties close to the Brisbane cbd.

All our properties are at higher values than they were in 2010.

 

Yes the economy did change and this is the problem when you buy in the outer regions of the capital cities. If you look at the capital growth figures of the suburbs closer to the CBD the prices remain stable even in the not so good times. Ipswich is a volatile market. Yes it's having good times now but it won't last and then will hit years and years of doing nothing again. Quality suburbs close to the CBD hold their value with very small dips and for the most part go up about 4/5% year on year. They make better and safer investments. I speak from experience and have owned a house in Carina Heights (8Km) for Brisbane CBD for 16 years and this is what I have seen happen. This is why I sold 2 properties in Ipswich and purchased one high quality property in another Brisbane suburb as I know it works.