First investment property - QLD or SA

I don't own any houses at the moment and am looking at buying my first investment property this year.

Need a bit of a push in the right direction to help stop the procrastinating.

Looking at using around 40k-60k cash deposit to get a 360k-400k property, based on 88%LVR.

Want to have it for the long term and am relying on capital growth in order to help future purchases after this one.

Would prefer cash flow positive in order to help pay off the interest only loan.

Looking at established homes, not apartments.

With this amount of money I have decided to go with either Brisbane or Adelaide as houses close to the CBD are much more affordable there, than in Sydney and Melbourne.

With this in mind, where would you put your money in order to have the first investment property work in such a way that I'll be able to build the portfolio in the coming years, Adelaide or Brissy?

Thanks for your help.

 

Hiya

This has come up a couple of times recently, why not have a look at previous threads on it :
Help choosing investment property between Adelaide and south east Queensland
and Adelaide or Brisbane with my budget

Based on criteria you've given, there's definitely opportunities here for that.

 

I'm glad you are looking at established homes and not apartments.
Not sure about Brisbane market but for Adelaide, positive cash flow will normally mean the Northern suburbs. However it's unlikely that positive cash flow and high growth are found in one property.

 

Brisbane vs Adelaide? That's easy..that's like asking Sydney vs Dubbo.

 

Adelaide. Fewer floods. We're building a battery. Tenants pay for water. What more could you want

 

I think in Qld, Cash flow positive must be Gold Coast region at the moment.
Commonwealth games will definitely boost the tourism/jobs there and it'll remain like that for a few years at least.
Better buy soon before everyone do the same and it doesn't remain cashflow positive anymore.