Hi there I'm pretty new to investing but have recently aqiured our second IP. Our first was a off the plan in Qld in a good location but have learnt lots more since via listening topodcasts during my work day. This has lead us to buying an exsiting more regional property in which I was able to add value with a plus side of a corner block redevelopment potential I wish servicability was not such an issue as I'm hooked on revation upswing for the right property
Hey Bubble Head, Welcome to the game (property chat and property in general). I'm curious when you say regional, how regional? This could be a decent yield play although if too regional may not see much capital growth (not that capital growth is ever guaranteed). If there's anything I could say I'd avoid off the plans like the plague at the moment although the biggest thing I'd suggest based on what you've mentioned is consider what your "end game" is. Serviceability (being a broker I see it day in day out) will likely to continue to be an issue for next few years. The way to overcome this is to either increase income (not always easy I know) or get creative/consider other investment assets i.e. shares/P2P lending/commercial property which may get you to your end game as ultimately aren't we all looking for cash-flow longer term
Thanks guys Both our IP's are based in Ipswich and Ballarat. The next step is to recoupe and look at our Super mabey going self mananaged Seems to be expensive and long winded be will get us looking for a more blue chip property while the heat drops out the market in Melb. Not rushing into this at the moment which will give us time out to build up our savings whilst paying down and hopfully gaining some more equity in our IP's and PPR (in Footscray)
