Join Australia's most dynamic and respected property investment community

Greetings from a Brisbane newbee

Discussion in 'Introductions' started by Darren Gainsford, 25th Jul, 2016.

Tags:
  1. Darren Gainsford

    Darren Gainsford New Member

    Joined:
    24th Jul, 2016
    Posts:
    3
    Location:
    Toowoomba
    I have been in the building industry all of my working life. I am now looking at 'Flipping Houses' in Brisbane possibly Toowoomba.

    I am also looking at buy & hold strategy on property's' with 'Granny flats' for the rent return.
    I am looking for any advise on these subjects as this is my 1st time doing this.
     
    Whitecat likes this.
  2. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,781
    Location:
    Perth WA
    Hi Darren,

    Welcome to the forums :)

    Flipping is great in the right market (ie, a hot one) but you may find that the transaction costs outweigh the benefit in many cases - CGT, selling costs and stamp duty to purchase the next one can mean there's very little left at the end.

    With your skill set, maybe consider looking at properties you can reno,split, build and hold - run the numbers and see what stacks up best.
     
    Whitecat likes this.
  3. RPI

    RPI Property Lawyer, Town Planner Business Member

    Joined:
    19th Jun, 2015
    Posts:
    712
    Location:
    Brisbane
    Hi Darren

    Great to see another Brisbanite on here to balance out the mexicans.

    Toowoomba seems very busy for us at present and Brisbane hasn't dropped either. I think timing for Brisbane is better now because we have less mexicans going in on a house cash unconditional.

    D
     
    ZephG and Pumpkin like this.
  4. Darren Gainsford

    Darren Gainsford New Member

    Joined:
    24th Jul, 2016
    Posts:
    3
    Location:
    Toowoomba
    Does anybody know of others that are successfully flipping properties? Maybe they are keeping costs at bay by using a company rather than a private person?