Newbie, looking into getting some investment options

Hi, currently based in Bundaberg, QLD. After a bit of financial stability am working towards saving a deposit and looking into investment property. Donot have a residential property yet. Just sending some feelers out there to see whats what. Followed on from Somerset and sad to see it go (wondering if the same will happen to whirlpool.net.au)

 

Take a holistic approach and consider all aspects including tax and finance.

If you purchase a property as an investment then you will be automatically up for capital gains tax whereas if you purchase it as an owner occupied and then convert it to an investment property (and rent it out for up to 6 years) then you are not up for cgt.

You also generally have access to higher LVR's if you are purchasing the property as an owner occupied vs investment.

Certainly not saying one option is better than the other but certainly map out your options and do the numbers.

 

What and where to buy is dependent upon your chosen investment strategy.

You see property is merely the vehicle. The strategy is how you intend driving that vehicle.

Unfortunately the mistake I see newbies and sometimes not so newbies is that they are property focused instead of strategy focused which is like putting the cart before the horse.

Property investing is not about property rather about the strategy and the way you intend to use the vehicle to get to where you are wanting to go. No good buying a small shopping car if you intend driving interstate on a family holiday.

What strategy/s are best for you is determined by where you are wanting to go, the time frame you want to get there in and how hands on along the way you want to be - all based around your personal risk profile.

I hope this provides some food for thought.

 

...that is, providing you dont have another ppor in the 6 years you're claiming the exemption within.

 

What's the market currently like up in bundy? Any locals?