IP recommendations

Hi guys,

I would like to purchase another IP, my main criteria are good rental yield and occupancy levels. Open to any area really, and have a budget around 400k if needed. Any feedback would be greatly appreciated.

 

If you grab some property magazines or check online for rental yields, vacancy rates and median prices, you'll be able to find some stuff to suit you.

What are you trying to achieve with this purchase (capital growth, cashflow etc)? Do you want to do a reno or develop in the future? How does it fit into the wider picture of your portfolio?

 

Basically medium to long term growth, I would like to eventually have multiple properties that could be cash flow positive in the future. I have no plans to really renovate and sell. I have a unit that I own outright atm that I rent, and an income of 100k +

 

Are the magazines accurate and timely? I sometimes see different and conflicting opinion in the mags and even in this forum.

 

@Tyrell

$400 k should buy you a house with land(to add value later) in Melbourne, Brisbane!

 

The different data sources show slight variations but nothing major. The data lags a bit but you can fairly easily identify trends by looking at at a few months' of data.

Online sources are a bit more up to date–usually a month behind at most.

 

I like the idea of Brisbane , what suburbs in both areas do you recommend I look at?

 

Trade secret..

But my random posts on forum will give you an idea.

Look at 20km ring from CBD!