Where is the next Sydney ? Margaret Lomas

Sounds like us one cycle ago .

Missed out on Sydney . PPOR only .

Went up and bought in Brisbane etc

Cliff

 

think will miss out Brisbane too! ip after ppor so 6 mths away

 

Have you considered buy IP now and delay the PPOR purchase till later?

 

Buy several ip's in Brisbane . Cheapies , then sell them in a few years and pay cash for PPOR in Sydney .

In last cycle , Karina bought several ip's in Geraldton , sold them and paid cash for a house on the northern beaches ...

Cliff

 

thanks, I need to stretch out of my cocoon!

 

@Befuddled - only thing is I am now sick of moving around...

 

Like See Change said, depending on where you think the Sydney market is going to do in the next 3-5yrs compared to another market, it may well work out better to delay buying the PPOR

 

Maybe you can sign a 3-5yr lease agreement? I'm sure someone here would love to have a stable tenant for that long!

 

I am buying ppor in regional, so its likely cheaper than rent.. I am doing dd for potential ips too. will look for brissy BA!

 

Take a chain saw too it . SWMBO was anxious at times when we started out but we ended up buying 19 within 18 months .

Harder to do that now with the APRA changes , but if you can afford a PPOR in Sydney , you can afford several interstate , BUT , ask lots of questions and don't buy OTP or units close to the CBD .

Cliff

 

thanks @See Change . my partner is extremely anxious now too . our syd ppor is only a small unit in western syd.

 

@samiam yep I can identify with that - missed the sydney boat completely and still renting in syd.
I'm looking at buying IPs first and continue renting as we are moving so much for work - looking at Brissy (that brissy thread is waaay too long!) but we don't really know how to start with buying properties interstate. @See Change did you buy any Brissy IPs unseen?
Just for ease, to start with first property purchase, I'm thinking it might be easier to go with Newcastle, Central Coast or Wollongong.

 

@ashchay - I am not in a position to advise but these areas have moved a lot already too. but it depends on your strategy. maybe for buy and hold for long time, go neutral if your income is good. I am trying hard not to buy for the sake of buying. I am reluctant to buy interstate too. I wouldn't buy interstate property unseen/ without a good BA but it would be me. Listen (read) through most of threads advised by experienced investors here, very useful.

 

That is a good advice.

Sydney has very limited options now. An expert might find good deals but an average people like you & me won't be able to find anything decent. You are going to wait for a long time if you are not prepared to buy interstate.
Use your network to inspect properties for you. I posted one way to buy properties interstate at https://propertychat.com.au/community/threads/sight-unseen-buy-in-sa-thanks-d-t.3309/
Feel free to ask any questions here or via PM.

 

Here is the complied list of ML's prediction hot spot for the last 3 years.

( I took notes from SS, in addition to personal notes from the property expo. It might not be 100% accurate, buts its there)

She said to steer away from Sydney property in 2014, would imagine she would say to steer clear from Sydney in 2015

===================
Margarat Lomas 2014 Hot Spots

NSW hotlist
Bateau Bay (Central Coast)
Gosford (Central Coast)
West Wollongong
Figtree
Shalvey

VICTORIA Hotlist
Cranbourne
Frankston North
Epping
Corio
Seaford
Meadow Heights
Wodonga

QLD Hotlist
Chermside
Redcliffe (Likes the Moreton Bay Shire)
Kingston
Morayfield
Vincent (Townsville area
Runcorn

SOUTH AU
Port Noarlunga
Seaford
Reynella
Woodcroft
Campbelltown
Modbury

===============

MARGARET LOMAS 2013 Hot spots
Hot was listed as Greystanes NSW, Seven Hills NSW, Logan Central, Penrth, Blacktown but she admitted it has already moved, Toowoomba, Rockingham council area, Huntfield Heights.
Warm - Gosford, Wodonga, Albury, Kwinana,Merriwa, Yanchep, Shepparton, Moorabool, Sunbury and Frankston
Cold - Anna Bay, Byron, Hervey Bay, Bondi, Proserpine, Innisfail, Broken Hill

===============

Margaret's 2012 Hot spots::
NSW- Hunter Valley, Braxton, Singleton, Cessnock, Blacktown
QLD- Toowoomba, Gladstone, Townsville(north), Rockhampton, Mackay
VIC- Shepparton, Ballarat, Bendigo, Morwell
SA- Seaford, Port Noarlunga, Port Adelaide, Elizabeth, Mitchell Park, Hackan, Hunterfield Heights
WA- Rockingham, Armadale, Westminster
NT- Parap, Stuart Park

 

We've only bought one place unseen ,and that was a development block in Rocky . We asked a REA who we got on well with to check it out . Main criteria , was the property safe and rentable .Held it for around 2 years and sold it never having seen it .

We have bought several properties subject to inspection and only passed on two . One 12 years ago in logan and one yesterday . With the latest one , the agent told us there might have been around 5 k worth of repairs to be done , but the building inspector said in might be up to 30K .... the numbers still come close to stacking up , but we're not looking for a " Project " at the moment . We were rushing that as we had a finance application with first Mac in prior to their cut off date , but now we'll think about it for a while . We're going to make offers on other properties and if those don't happen we may revisit that one .

Cliff

 

I still see good buys in Syd, IMO but they are not for people who want quick gains or think the Eastern suburbs or zip, most will not gain anymore, however some are still going.

 

Used to be good when they had free beer and food after all the talking finished at some of the seminars,when they try the generosity was never a attractive investment short term sell strategy..

 

@devank .. any D.T in brissy?

 

Thanks @MsAli - did you buy in qld too? I thought you'd only stick to syd??