Hi Guys I need some help on buying my 2nd IP. I've been reading the forums for some time and have basically whittled my search down to 3 area's I'm hoping for some feedback on your buying experiences. I have around 300 - 350 k to spend and am looking for a neutral to positively geared property with good capital growth prospects. I've got a long term strategy of 10 to 15 years at least, with each IP Since I'm from Gippsland I've been spending a bit of time looking in the Frankston area, including Langwarrin, Carrum Downs, Seaford etc. I reckon I've missed the boat in this area as by the time I get to the open days most are already under offer. I feel that my budget would only get me something that is rather old and would need a expensive reno. I liked Cranbourne West but there is a heap of land for development. As I'm time poor I'd like the names of some BA's who could help me in the Casey area if anyone has used one. I've been in contact with numerous estate agents asking for me to be kept up to date with their listings, current and future to no avail. I think they sell stuff so quickly they don't have to bother. The 2nd area is the outskirts of Brisbane ( no brainer ) ie, Logan, Moreton Bay, Ipswich etc I'm wondering if there is much left there for my budget. I'd be looking at a BA to help me with this - any thoughts? I've contacted a few but they all seem to favour a particular area rather than the multiple area's I've described. The last is my favoured one at the moment, Adelaide. I think I've got the BA covered and I'm not particularly fussed about the area because he will know more about it than me. I understand the problem with the Car Industry troubles but the entry point is favourable and although growth isn't skyrocketing I feel it may be the next area that good growth should occur Happy to get anyones' thoughts on what area I should go for and any recommended BA'S please
Ipswich suburbs This thread has a few good points about the suburb Ipswich you mentioned. Have you read through it? I've personally invested there and there is some good value in your price range. I would be looking at established suburbs close to Ipswich CBD and in particular character houses (Queenslanders) on good sections. You'd be able to pick up one for an attractive yield from get go, and then further boost your yield with some value adding when the time is right. As per the forum, there are a number of us who after our DD also think that there is a positive outlook for CG.
Adelaide has a growing defence industry. Lots of investment in big projects over decades. Most of this work is in the Northern Suburbs. A big factor and consideration if you are interested in Adelaide. It's important to note that some capability and equipment has lifetimes in excess of 30 years. Whilst Adelaide doesn't get all the Defence acquisition/sustainment work, it certainly gets a big and growing chunk of it.
There is so much in Ipswich you could grab with your budget it probably sounds almost unheard of to Victorians like you and me but you can grab Queenslanders on huge blocks in inner suburbs for that price, 40mins out from Brissy, on a train line. Ippy is incredible value and will only increase with the outer Brissy suburbs. Try Booval, Bundamba, Newtown or Eastern Heights for a start.
i would be very surprised if you find anything in Carrum downs or seaford in your budget........I recently bought property in Adelaide........DaveM was my Buyers agent.....can highly recommend him... 24 Grenada Avenue, Ingle Farm, SA 5098 - Property Details This is the property I bought......13 km from CBD......Dave helped me in converting 3 bed house into 4 bed house.......will see how market goes.......will try to get equity out if any next year...........just put on market for 340 week/rent........ Carrum and seaford good for CG but you will need around 5 (including costs) to buy anything
Sorry mate, there are a number of us that have purchased there, and the ones I'm aware of haven't used an agent. Perhaps if anyone has used them for this area, or a local BA is around, they can pipe up. I'm also yet to see a BA commentate much on inner Ipswich.
Generally you get better capital growth with the land component in houses. Townhouses are a middle-ground. As for picks of specific locations I'd leave that to the locals that know the market.
