Mid 40s, new ppor bought, now invest for retirement

Bought new PPOR for 785k with 125k in offset. This is split into 6 loans with 6 offsets.
Previous PPOR sold for 700k, settlement in Mid October. Existing loan is IO and fully offset so I should get 685k after deducting fees and commissions.
Income 200k+ for last two years but expect to be 140-150k normally.
Age 44.
Location: Melbourne.

Need to set myself now for retirement. No kids and missus not working due to health problem, I don't mind. I have recently started earning more due to contract work and paying ******** of income tax. Also we are thinking to move to Brisbane mid next year.

What should I do. I am thinking

1. Buy a land + house outer Melbourne at around 650-700k and hold for long term (15+ yrs) capital appreciation.
2. Buy two unit or appartments in mid-inner Melbourne < 500k for cash flow
   
3. Buy one unit or appartment in mid-inner Melbourne < 500k for cash flow + another one in Brisbane in anticipation of moving there.

I got an appointment with a new broker on Monday.

 

Hey mate no need to spend 650k plus on a house and land.

Some fantastic opportunities available for under 500k at the moment in Melbourne/Geelong...

 

I would personally forget about purchasing units anywhere.

Is there any reason why you want to buy in Melbourne if you are moving to Brisbane? Is the move to Brisbane temporary or permanent?

 

Why would you buy a new ppor when considering moving so soon?

You dont need cashflow. You need capital growth.

 

Brisbane move would be likely for at least 3-4 years, who knows if I like it I may even stay back. I have no family in Australia. Few close friends in Melbourne and one in Brisbane.

The reason to buy in Melbourne now is Brisbane move is at east 9 months away and I want to save tax now. I am reluctant to buy interstate.

 

But where can I buy property in 600k range that will give capital growth. All properties in Melbourne are in outer new land release estates. A friends bought land and build a new house in Mickleham and the amount spent on that was north of 600K and rented out for low returns.

 

This is not the proper sub-forum but where are these fantastic opportunities?

 

This is the problem. You are only focused on new houses because thats what you want to live in.

 

Then they had no idea whatcthey were doing

 

Hello I think you're looking too short term, perhaps, and focusing on saving tax as an immediate benefit but not thinking about how the property you buy fits into your long term goals... Assuming you've taken the time to think about long term! (Most people don't, so if that's you you're not alone!).

Once you're clear on the end goal, it makes the decision much easier. Tax benefits are an lovely side effect of investment but having that as the main focus often leads to buying a crappy investment.