Where to buy for first IP with $500k budget

Hi All,

New member and first-time poster here in the forum.

I am ready to buy my first investment property in late 2022 with a long term goal (20 years+) of building an investment property portfolio to generate passive income. Currently 30 y/o

I have a budget of $500k and looking to buy an IP to form the foundation of my portfolio.

Considering my budget, which states or cities should I be focused on?
I will be engaging with a local buyers agent from there to commence the process as well as a broker and loan structuring advice from a professional.

Keen to hear any thoughts.

Thanks

 

https://www.realestate.com.au/property-house-qld-urangan-138104158

 

If you're looking to buy end of 2022, imo you're not yet ready.

 

What’s you top 3 growth area for 2022 mate ? I picked up 2 in 2021.. Warnbro and Christie Beach. Hoping to replicate some good results this year

 

Why late 2022? Do it now!!!!

Your already 30 year old. Your wasting time waiting and exactly what are you waiting for? Imho your already way late to the party. You should have been buying up property as soon as you graduated or got a trade in your mid 20s.

 

IMO for that budget I'd be going house in either Morton Bay, Logan or Ipswich areas within about half hour drive to Brisbane CBD. Affordable, decent land/property for the money and still should have a strong 2022 before growth slows down a little and cools in 2023.

 

Well if Op waits until late 2022 Moreton Bay and Logan will be off that list. Nothing will be $500k by then imho. Ipswich "maybe" you can squeeze.

Time is running out for the Op. Prices are rising faster than he/she can save so there is no point waiting imo.

 

I'm not suggesting wait til end of year. I'd be on the hunt and making offers as soon as the new year real estate market kicks off again.

 

Broadly speaking, I'd investigate Brisbane middle rings, Perth and SA opportunities. I'd have to actively be doing DD on areas (outside my chosen areas and strategy) in order to be more specific, which I'm not doing.

 

Ok then mate sounds, what about North QLD mate?

 

Personally I'd stay closer to Brisbane, high demand owner occupier suburbs and ripple suburbs. That's just based on my risk tolerances.

 

@Sackie just seeking clarification, does the middle ring tie up with the KMs from city centre in every city i.e. Enmore in Syd is Inner circle (ring) and Strathfield might come as middle ring??

Who decides the segregations?

 

Ppl are calling Castle Hill/Baulkham Hills middle ring these days in Sydney. Thats like 35km out from the CBD.

Ppl's definition of middle ring keeps moving as the prices keep moving. Must be some kind of ego thing by some ppl. Hahahaha LOL

 

In my head I am thinking Parra as an outer ring lols

 

Parra is closer to the city than Castle Hill. If your thinking Parra is outer suburbs what is Penrith? The next country? Hahahaha

Parra is going to be the centre of the entire of Sydney within a decade.

 

Hence I asked the Question mate, who decides and how the KM works when segregating these rings

 

Yes….. yes….Rockingham
Waikiki
Warnbro
Safety Bay

 

BA may not necessarily be the way to go???
Start doing your own research, lots of free info, connect the dots. Then work out which way to go

 

These are all imaginary rings man. There is no single entity or person that decides. One person's opinion on inner/middle and outer rings will vary from the next persons. That's what I am trying to say. It will also vary if your talking about Perth, Brisbane or Sydney or Melbourne.

Just take all this middle/inner and outer ring crap with a grain of salt. There is money to be made in all of them. I've made my millions in the outer rings (i.e) Western Sydney (30km+ from CBD) and now in Middle/outer ring Brisbane as well (17km+ from Brisbane CBD).

As prices grow ppls self definition of inner/middle and outer keep changing. Soon Rouse Hill/Scofield's will be middle ring. LOL

 

Hi there so, I’m looking to grab a couple of places 2022. Would you suggest Perth (Rockingham region) x 2 ? Budget is 300 to 350k