Hi All. Chris from Sunshine Coat. I have 5 properties - would like more but have hit my lending glass ceiling atm. Nervous about 21 but also very excited about what might be. Joined forum to talk with like minded people. Thanks Chris
Welcome Chris. Have you built up to five properties over time (which is what we've done)? And do you have problems with land tax (like we do)? Land tax has made us rethink whether we wish to continue to hold property. But we understand property and don't really understand shares and other investments.
Hi Whlie! Thanks for reply. Yes built up basically since 2009. I have am now starting to get some land tax issues but it is not enough to make me want to leave property in search of other investments. I would like another 1 in my name and another 1 in my SMSF but the former is getting hard according to the broker i have been using. I will wait to see what the new laws do! Hope you are well.
Hi Sunnycoaster, Cheers to living in paradise on the Sunshine Coast. Commiserations to our southern friends
hi there, i'm newbie to property investment and looking to purchase my first IP within next few months in Sunshine coast. my budget is 500-550k and would like to hear from anyone re good suburbs to invest for long term capital growth. thanks heaps!!!
Hi Gsam, Congratulations! The Sunshine Coast has a lot going for it. Were you hoping to buy a unit/house, how long would you keep the IP, do you wish to move in at some point and are you investing from interstate?
Sounds like me... I understand shares and other investments just never managed to make as much as we do in property... Oh, welcome Chris to PC of course!
thanks Bradley Peet..i'm looking for a house and keep it for 5+ years and not wishing to move in . and yes i'm based in Sydney
Okay great, if you're looking for a house - they're out there, but prices are increasing. With that budget you could get a 3 bed, 2 bath, 2 car home around Palmwoods or Woombye. Rental demand is incredible in these areas. I just leased one out near the pub for $550pw (testing the market at that price) and I had 34 groups attend the first weekend inspection - incredible! Option 2 would be a new home in the Aura/Baringa/Palmview estates. Demand is fairly strong for these homes and you could make the most of the homes depreciation etc (not financial advice, recommend that you seek your own professional advice). I'll keep my eyes open for you if something suitable hits the market.
Hi mate. It is hard to know. The properties i have purchased have always been based on the fact they are hard or impossible to replicate. I.e. i brought one place in Mooloolaba simply because it is 5 min walk to beach (can't build a beach), nearish to good schools, existing houses are getting renovated or replaced in area, strong rents/low vacancy, nice established streets (trees) and parks etc. Whilst it looks like I got it right, the value of that house did next to nothing for the first 3-4 years of ownership and then is started to slowly rise again. It has only been in the last year or so that it is going up strong.
