QLD Decisions on cashflow issue

Discussion in 'Where to Buy' started by Edmund, 15th Nov, 2016.

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  1. Edmund

    Edmund Member

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    Hi all,

    First time poster and long time lurker. I used to be somewhat active on Somersoft years ago when I was building a small property portfolio in Sydney. Long story short I decided to take a break in the property market as prices were rising so rapidly I was kinda stunned and found a different love interest (Share market :)). I've decided to come back into the property game as it is a less volatile way to accumulate wealth.

    My strategy with properties has always been buy and hold, small improvements to increase equity position and rental yield. I'm now at the position where I don't have huge borrowing power ($400k max). I'm looking at increasing my cashflow position and reducing debt as quick as possible. I would be happy with 3% average CG each year.

    Been researching on the forum about 3 different regions near Brisbane CBD (Logan, Moreton Bay, Ipswich) each has pros and cons I understand.

    Based on my current situation, what are everyone's thoughts on region I should start with?

    On another note I'm keen to become more active on the forums and was wondering if there is a Sydney based property meetup to meet like minded people?
     
  2. Hodor

    Hodor Well-Known Member

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    @skater has organised numerous events at wenty leagues club, always a good turn out and a fun night.

    Keep an eye out
     
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  3. BKRinvesting

    BKRinvesting Well-Known Member

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    Also I've got a blue mountains one lined up soon too if that's not too far.
     
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  4. Steven Ryan

    Steven Ryan Well-Known Member

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    Welcome @Edmund :)

    How'd you confirm your borrowing capacity? What's your current portfolio look like? Could consolidating make more sense than expanding given your aim of reducing debt?
     
  5. Edmund

    Edmund Member

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    Blue mountains is a big too far for me but I'll keep my eyes out if I'm free that day.

    Hi Steven,
    Recently got an estimate from my broker, portfolio wise I'm around 80% LVR. I was thinking about consolidating but that would mean getting stung but CGT and I'm still at an early stage of investing so I don't need the cash just yet but rather to show the bank to allow me to further borrow and grow my portfolio.
     
  6. dabbler

    dabbler Well-Known Member

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    Well, it is only just the Blue Mountains by technicality, Lapstone.... look in meet ups.

    Wenty leagues is the 23rd this month.
     
  7. Gockie

    Gockie Life is good ☺️ Premium Member

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    There's also a North Ryde meetup - checkout the meetups section.
     
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  8. Whitecat

    Whitecat Well-Known Member

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    None of the areas you mentioned our particularily "near to cbd" by Brisbane standards you will need get to get close to rail in all of those areas is my recommendation.
    Of the three my pic would be Moreton Bay first Ipswich and Logan are a bit of a tosser I think Ipswich demographic is slightly better however I like the positioning of Logan
     
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  9. Edmund

    Edmund Member

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    @Whitecat I do understand by Brisbane standards near to CBD is probably within 5-10km of Brisbane, I'm planning to buy and hold so I do believe in say 10 years down the track the term close to CBD will expand to 25km :)
     
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  10. Whitecat

    Whitecat Well-Known Member

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    Yes over time it will. What you need to watch out for though is land availability. Stick to the hubs like Strathpine or Morayfield with a mall and train or near water if you are going to go far out.
    For example anyone buying OTP in Springfield is short-changing themselves for gains. There is just too much land.

    By the way I meant 'toss up' not 'tosser' in my earlier post.
     
  11. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    @Edmund there is a CBD meetup coming up just before xmas. I will post up a thread in the meetup section over the next week.

    Also I have 3 in different parts of Moreton Bay and one in Eagleby (Logan Shire). come on down to the meetup and we can catch up!
     
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  12. skater

    skater Well-Known Member

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    Sydney? Gold Coast?