Hello community. Been a long time since my last post. I took most of the suggestions from last time, and have concentrated on paying down debt. It took nearly 1 year, but I got there in the end. Now, with the help of a really good broker, I have been able to re-finance my house and am now in a position to purchase an IP. My upper limit is 450K, but I would prefer to keep it at 400K purchase. The balance, I would like to keep in the kitty for any bargain deals that may come around the corner. The trouble I am having is narrowing down area/state/strategy. ( I live in Melbourne). I am conscious of the fact that Australia is not one market, and even within a city there are markets within markets. Hence the confusion where to go. I have gone to the domain website, and typed in my price and it shows the list of suburbs in Victoria with a median price of 400K. Funnily enough, only 3 suburbs came up that I knew of, and the rest were all regional or very far out country. The areas that I know by name were Frankston north, Brookfield( Melton area), St Albans Park (Geelong). Secondly, I have read a lot about the QLD market, and how certain areas are ripe for a boom (eg SE QLD), plus the fact that it is quite possible to get a cash flow positive property up there. These two factors seem enticing. As this will be my first IP, I understand that the first one is the most important to get right. It is what can set you on a winning trajectory, or stagnate your portfolio. I would prefer to buy something that will give me reasonable capital growth in the next few years, as this would allow me to be in a position to use the equity to purchase the next one (in combination with generating equity in my PPOR). Re confusion about strategy, would I be better off taking the standard route of buy, hold and wait for capital growth, or buy something where value can be created eg buy something that needs a small refurbishment? As I would like to generate equity in the IP rather quickly, the second method seems better, but for this, I would have to spend the entire 450K (purchase price + cost of refurb). Most places I have seen still end up being negatively geared even after doing the above. To buy in QLD I would almost definitely need to use a BA, as I do not have the time or the capacity to take time off work to go there to do on the ground research. Thank you to all in advance for your suggestions and guidance. Regards, K.