Hey everyone. First time posting here. My Partner and I are just about to go down the road of purchasing our first investment property. (150-300k) As we are new to all of this, are there any general things we should be watching out for or aiming for? Any general areas we should avoid? We are currently looking at Brisbane (have been reading that growth isn't really happening) or Melbourne. Wollongong area seems nice to us too, but may be out of our price range. Our long term goal is to have a PPOR, but living in Sydney, as first home buyers we have decided it's worthwhile getting an IP first off. Any experiences or guidance would be much appreciated. - Eric
Good move. Makes sense for new and first time buyers to focus elsewhere than Sydney at this point in the cycle
Do some research trips if you are unfamiliar with Brisbane and Greater Brisbane. Get a view from discussions here about what areas to check out. I'd recommend a few days for a first trip. Do some research on infrastructure that is planned and also state/council growth and economic development plans. That's so you know what is happening where and when.
Hi and welcome aboard Finding this forum is one of the best things you can do - continue reading/learning and don't rush into anything. Speak with a decent finance person - see if they can map out a plan to get your IP and future PPOR. Also find a good accountant - they'll be another essential advisor. Cheers Jamie
I am seeing Wollongong as the new place to buy for shire people. I agree that it has potential. So many of my friends kids going there. We IP there.
@Eric B welcome aboard. Have you considered engaging a BA (buyers agent) to assist you with your first purchase? Cheers.
