QLD First Property (IP) up to 670k?

Hi All,

I have been approved for an investment loan and can buy my first property up to 670k. I'm currently living with my parents in Melbourne and not looking to move out so the property will be for investment purposes only. I have also previously lived in Sydney so I know the two cities well.

When my loan got approved my broker said welcome to Australia's hottest sport. I didn't know what he meant until I started looking for potential cities/suburbs/properties and so forth. The main goal would be capital growth.

I am open to buying in Sydney (i understand this costs an arm and a leg and may not be possible), Melbourne, or Brisbane. Based on advice/research will avoid apartments and probably townhouses, although I am open to them. Looking for something with 3 bedrooms with a bit of land.

In Sydney, I have been looking at Western Sydney ( St Marys, Colyton, Cambridge Park, etc.) In Melbourne, I have mainly looked at Craigieburn. As for Brisbane, this was my preferred location initially, and was looking in Logan and a few other Brisbane suburbs but became hesitant due to not knowing the city well and not living there.

I guess my question would be, with the above budget, what suburbs would you consider. Secondly, would you recommend a buyer's agent? They seem to be very expensive and I'm not sure if there is a greater benefit as opposed to me doing my own research and buying.

I apologize for the lengthy post, if I have been too general, or if I missed anything.

Thanks

 

Welcome to playing the hottest sport. Pls read various articles in this forum for your practice before match day.

IMO you are looking for decent suburbs within your budget. May be brisbane, you can achieve more with that money say closer to CBD around 8-10kms radius will make sure you are playing this sport a bit longer with equity and cashflow. Good luck.

 

This aint happening - at least not in St Marys / Colyton...

$670k doesn't get you a lot these days in Sydney. Unless strata.

Have you considered learning the ropes and doing it yourself? You don't necessarily need a buyers agent to do this.