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My First IP, advice needed !!

Discussion in 'Where to Buy' started by Small_investor, 23rd Jun, 2016.

  1. Small_investor

    Small_investor Active Member

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    Hi i want to buy my first IP, my budget is 280,000 including the stamp duty. I know its hard to buy a house, so i am looking at unit. I am looking to hold the property for long term. What areas should i look for more rental yield.I am looking at frankston,seaford and cranbourne areas. Also, melton where i can buy a house for that amount. What you think is more advisable. Thanks.
     
  2. Leo2413

    Leo2413 Well-Known Member Premium Member

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    I think Adelaide might be able to get you biggest bang for budget. If I was on that budget, that's most likely where I'd be looking and I'd stick to houses as much as possible as long as the demographic supports that too.
     
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  3. Small_investor

    Small_investor Active Member

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    Thanks, any particular areas in adelaide ?
     
  4. Leo2413

    Leo2413 Well-Known Member Premium Member

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    @DaveM @Xenia

    Two guns on SA.
     
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  5. trinity168

    trinity168 Well-Known Member

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    Look for posts from @D.T. & @Corey Batt, they've written up good summaries of areas in ADL.
     
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  6. D.T.

    D.T. Adelaide Property Manager Business Member

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    That budget gets you into family sized houses in a few areas over here.
     
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  7. Small_investor

    Small_investor Active Member

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    Can you guide as to which one's? thanks
     
  8. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

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    SA - Outer Southern Suburbs Adelaide Summary

    SA - Salisbury LGA Summary

    These two threads will cover off on the area's DT is referring too, enjoy. :)

    It'd probably be good to pick David's brain on that sort of price range, he's got a lot of experience in both those markets and Adelaide property in general.
     
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  9. Small_investor

    Small_investor Active Member

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    Thanks i will look into the areas mentioned and do some research before i speak to david.
     
  10. Mick Butterfield

    Mick Butterfield Well-Known Member

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    Bermagui NSW
    You could also look at the Ipswich area in Queensland. Can still get a house there for that sort of cash in a good location.
     
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  11. macdub

    macdub Active Member

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    you can easily get 2 bed units in cranbourne, even 3 bed if you are lucky..I am also lookin into areas you have mentioned
     
  12. Lisa

    Lisa Member

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    Hello. I do agree. Many people who ask me where to buy at the moment. As I do have over 18 properties. My main strategy was to buy under 300k. Best bet would be Queensland, same as what Mick mentioned. Better for your money and population is near the 15% per annum. So you hope for this to go in value over time. Plus billions worth of transport infrastructure planned for future. So the government wouldn't spend this, if they think the population wouldn't grow to push property prices up. Plus don't forget yield. Can rent better than other areas. I am looking at these areas myself.

    If you don't want to look at queensland and maybe Sydney, Sydney region. I am looking at the Entrance at the moment and Central Coast. Still some around this price. Again you need to do your due diligence
     
    Last edited: 30th Jun, 2016
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  13. Green

    Green Member

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    Hey Lisa,

    What QLD suburbs are you looking at?