QLD New to the scene / Where to buy QLD.

Have you considered Gladstone?

It's at bottom of market imo

Can pick up an older house for 150k

 

I would stay away from Gladstone. Regardless of it recovering or not. Too much risk and too speculative for a first investor as far as I’m concerned.

Ipswich sounds like a good idea to me. Suburbs like Churchill, Raceview and Newtown.

I would also look at North Brisbane.

 

Ipswich may be sound, it just seems like so far away to me... Over a 30 min drive...

Where as Eagleby is only 13 mins, just comparing distance, I've read a lot of reviews on the town... I will not be buying in that location.

 

13 mins, 30 minutes drive. What are you talking about?

 

Was thinking of the wrong spot, my bad.

 

You are forgiven You can probably still edit the post from last night within a certain time.

 

Nope, hah. It's all good, I'm getting things muddled up I've got a list at home, half the time I'm replying from mobile...

I think my price range might be a bit low for the hot spot places, I need to research and evaluate a lot of things (obviously) being new is pretty hard, there's a lot to learn. As I said before there's a lot of conflicting information on the internet, I'll stick with the pod casts and reputable sites..

Again, thank you all for the tips on location, that's help a lot!

 

Heaps of conflicting information always with investing and everybody has a vested interest, being new is hard but it also has a huge advantage if you are growing and learning and especially if you are young. These forums are a good place to learn the information that lets you ask better questions.

 

As above, strongly recommend you have a listen to “the property couch” podcast. Genuine guys helping not pushing a narrow.
Start at the first 20 episodes as they go through a lot of the fundamentals demand/supply and dangers which will help you enormously.
Good luck!

 

Hi Dan,

Before looking for the property itself... I would suggest start by doing more research into the suburb your getting into - perhaps one that will provide value today and value tomorrow (i.e. long term) a lot comes down to supply and demand fundamentals. As suggested above buying somewhere that has the land value locked (controlling supply) and that is also desirable with owner occs (demand) are deffs things to consider. I suggest reading Margaret Lomas book '20 must as questions' - I personally found this useful.

Also in terms of house or townhouse, a better question may be, 'What does the market demand in that area?' (both from the tenants/rental perspective & also from potential buyers in the future) If the demographics are mainly families with multiple kids, having a small unit/townhouse may not be ideal and hence it would be hard to expect prices to really go up for that product in that market.

Also suggest running a proper cashflow with more accurate estimates before you actually go to purchase (just noticed in that one you left out some other considerations, PM fee, letting fee, insurance, allowance for repairs/maintenance etc) just to be on the safe side that you understand what your getting into

Best of Luck!!

 

I so much agree to sackie.Learning from forum is good but can get really confusing as its quite unstructured.It would also take long for you to dig basics info.I have ordered the steve mc knights apprenticeship course and will review once i finish reading it.