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Newbie from Melbourne's North

Discussion in 'Introductions' started by Maple, 9th Jul, 2016.

  1. Maple

    Maple New Member

    Joined:
    9th Jul, 2016
    Posts:
    3
    Location:
    Melbourne
    Hi All,

    Great site, lots of friendly people. Randomly got to this site but glad I did.
    My Name is Fred (online i go by Maple - old online gamer tag), IT by day for Vic Government and Dad for two young kids at night.

    Short term goal - Purchase IPs to support my children's education and also still have some money leftover for holidays.
    Long Term Goal - Retire early to go on more holidays.

    To achieve short term goal - started looking at properties in QLD especially dual income properties but still learning. There seems to be a whole lot of development of dual income properties in QLD and worried about oversupply.
    Wife would rather buy locally in Melb as we know more about Victoria. To be honest, we know very little about QLD. Financially I think we are in a good spot, PPOR sits at $40k (balance - offset).

    Apologies for inviting myself but I'd also like to come along to the next Melb group meet in Mitcham.

    See you guys there :)

    regards,

    Fred
     
    TaylorChang, MTR and ellejay like this.
  2. monalisa

    monalisa Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    314
    Location:
    Sydney
    Hi Fred @Maple

    Welcome to PC.

    It is great to see you have clarified what you want to achieve.

    It is daunting buying interstate especially if it is your first investment property. To start off, put together a set of 'criteria' for what a great investment property would be for you. Clarity is key - if you know what you are looking for, rest will look after itself, as when you see an investment property that meets your criteria you will be quick to make the move. As to what makes a great investment - read up on this forum and the previous Somersoft forums on what techniques are available to you and what resonates best with you.

    You raise an excellent point about oversupply. Whilst a lot of people use the term buy 'if the numbers work' - I think this means different things to different people. Just because the numbers work for a property, does not mean it has the fundamentals - so just be careful of buying just because...

    In terms of QLD, you can read this forum, or alternatively use a buyer's agents in QLD - as I said clarity is key - so give them a set criteria - you don't want to just buy 'anything' - you should speak with @Nish - @Nish recently bought an excellent first property in QLD, which has a decent return and a great upside for capital growth.

    All the best!
     
    Maple likes this.
  3. JacM

    JacM VIC Buyer's Agent Business Member

    Joined:
    12th Jul, 2015
    Posts:
    1,106
    Location:
    Melbourne, Australia
    Hi @Maple

    Welcome!

    Never apologize for inviting yourself to the meetups... it's precisely what they are for... people to turn up and meet new people.

    Well done on getting your loan balance to where it's at. That is a very big deal. Hope to meet you at a meetup soon and hear about your plans :)
     
    Last edited: 12th Jul, 2016
    monalisa likes this.
  4. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,756
    Location:
    Perth WA
    Welcome Maple. Great effort on the PPOR :)
     
  5. Nish

    Nish Well-Known Member

    Joined:
    18th Jan, 2016
    Posts:
    47
    Location:
    sydney
    Welcome @Maple to the PC forum.
    I will PM you back on your query. You can also check other threads on Brisbane investment. Well done on your PPOR :)
     
  6. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,140
    Location:
    Canberra and Sydney
    Welcome aboard Fred - I like your goals :) I don't mind a holiday either.

    Cheers

    Jamie
     
  7. Maple

    Maple New Member

    Joined:
    9th Jul, 2016
    Posts:
    3
    Location:
    Melbourne
    Thanks all for the warm welcome.
    I'll be at the meet tomorrow
     
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  8. peastman

    peastman Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    117
    Location:
    Melbourne
    Hi Maple,
    See you tonight at Mitcham Hotel Bistro
     
  9. Robert Rich

    Robert Rich New Member

    Joined:
    13th Jul, 2016
    Posts:
    1
    Location:
    Melbourne
    Hey @Maple,
    Good luck with the offer in Heidelberg! Let me know how it goes..
    -RR
     
  10. Maple

    Maple New Member

    Joined:
    9th Jul, 2016
    Posts:
    3
    Location:
    Melbourne
    Hi Rob,
    Went there with the facts but agent was still keen on getting mid 600s. Had to walk away on this.
    Recognized that I came prepared and appreciated I wasnt just plucking a figure out of thin air but he was confident on getting mid 600s due to recent developer activity in the area. Oh well.

    Was great meeting all of you and look forward doing this again. In the meantime, I'll keep looking. :)

    Maple
     
  11. TaylorChang

    TaylorChang Well-Known Member

    Joined:
    2nd Jul, 2015
    Posts:
    167
    Location:
    Sydney
  12. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    Hey Fred, welcome aboard.
    What cities were you looking at in QLD?