Hey Cobbers, Been on here for a while just dont post much. Love reading everyones input and experience. So for i purchased my first IP just over 2 years ago in QLD. Worked out well was confident in my decision making and touch wood it has been rewarding. So 2 years on after my wife and i having our 1st child now 10 months old we always said when she went back to work we would buy IP number 2. We are currently going through the pre approval process with 400k to play. However looking at property 350k and under. My reason for this post is iv lost the confidence in my decision making and not backing myself. Iv got my suburbs im looking at butsomething inside me keeps secong guessing myself. Just wondering how people went and felt when they extended there portfolio. Maybe its insecurity of being a father or lack of sleep hindering my mind lol. I love this forum so looking forward to hearing any advice for me to move forward. Thanks cobbers Ryan
I think most people go through the same emotions as you are regarding property selection and if they are making the right choice of location,property type etc Did you purchase your first IP or did you use a Buyer's Agent?
Hi @Ryno You call out that the first IP was rewarding, what worked for you previously? What were the key characteristics of that IP / area you selected that lead for it to be a good purchase? Write these down on paper and compare it to the areas and deals you are looking at. Make a list of your own 'negotiables' and 'non negotiables' to determine what will make a good deal for you. Is the second guessing linked into lack of clarity on why you are considering particular suburbs? Why have you selected the suburbs you are looking to purchase in?
Thanks for the replies guys @Coota9 i purchased on my own however im considering a buyers agent for this next purchase. @propertytwins i got lucky the place i purchased is similar distance from Brisbane like Penrith to Sydney. That was my plan after being guided to buy in Qld. The house was already tenanted and well maintained. Now looking at number 2 im not sure what to do now. Iv got 2 suburbs in NSW well known to me and iv got Qld again. Which now that iv got more funds to play with i can look closer in the suburbs. Im just not as confident as what i was in my first purchase. I think i just need to back myself but its nice to read support and similar feelings. Ryan
I purchased my first IP purely by myself but with my next one I used a Buyer's Agent as my circumstances changed and my focus at that time my on my health,glad I did as otherwise I wouldn't have made that purchase.. In the end no one buys the "perfect" investment property anyway,do your research but also take note of what and where your gut is telling you to buy.
Analysis Paralysis! Have a dig around, ask for help where needed, you'll find the right property! SEQ prices aren't going wild in that price range right now so don't panic and take the time you need, but keep your finger on the trigger in case the right property comes up.
Hello Ryno. Good luck with expanding your 'folio. I've been through 6 IPs, several partners and a box full of cobbers. I'm still standing. burp.
