Join Australia's most dynamic and respected property investment community

Which state should I buy in ?

Discussion in 'Where to Buy' started by showtime94, 20th Jul, 2016.

  1. showtime94

    showtime94 Well-Known Member

    Joined:
    15th Jun, 2016
    Posts:
    115
    Location:
    Sydney
    hi I'm going to get my first ip soon
    Which state do you think I should buy in ? I'm thinking Brisbane . But please give me your thoughts on where you think I should invest now
    Also and if you think I should invest in Brisbine , where abouts ? North ? West?
    Thanks

    :)
     
  2. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

    Joined:
    19th Jun, 2015
    Posts:
    1,241
    Location:
    NSW
    Ahhhh Brisbane is not a state. :p
     
    Jacque and HUGH72 like this.
  3. BB5

    BB5 Well-Known Member

    Joined:
    2nd Jan, 2016
    Posts:
    152
    Location:
    Brisbane
    Yet...
     
    Green and Propertunity like this.
  4. HUGH72

    HUGH72 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,124
    Location:
    FNQ
    Lots of options, what are you wanting the purchase to achieve?

    What price range, yield, house or unit/ townhouse, short or long term hold, renovator, subdivision potential, add value, single or multiple purchases, local purchase only, are you willing to take a risk or is cashflow more important?
     
  5. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,508
    Location:
    Sydney
    You're asking for opinions that could result in thousands.
    So you're thinking Brisbane. Why?
    Tell us your reasoning and I'm sure others will contribute from there.
    Maybe tell us about yourself, financial situation, budget, risk profile and what you hope to achieve. Otherwise, you get a myriad of opinions that will only confuse you even more.
     
  6. TaylorChang

    TaylorChang Well-Known Member

    Joined:
    2nd Jul, 2015
    Posts:
    167
    Location:
    Sydney
    What's your budget ?

    How much can you borrow ?

    What's your cashflow and equity/cash like ?

    Without more information, it's hard to know the reason choosing over Brisbane is than Sydney or Melbourne.
     
  7. showtime94

    showtime94 Well-Known Member

    Joined:
    15th Jun, 2016
    Posts:
    115
    Location:
    Sydney
    Sorry guys I didn't give you more info
    I haven't seen a mortgage broker so I dunno what my budget is
    But I've got 90k cash saved up
    And from my work income I'm currently saving up 1000 a week , every week, I'm 21
    Ummm about my budget not sure until I see a mortgage broker ,maybe a mortgage broker on here could figure it out, also I am thinking about using a ba for this first purchase because I still don't know much.
    I want a house and it's going to be a long longggg term hold.
    Also I'm not interested in working till my 60 or whatever so I kinda want to stop working at around 30 -35 max , not sure how I can achieve that I'm thinking if I own 4 ip out right I could live off that obviously the more the better , hoping you guys could give me options on what would be a good game plan .
    Also what do use reckon should I save up abit more and buy close to the city or just buy in the middle ring .
    Also I would prefer a ip that doesn't cost me anything that's not negative or maybe I'm thinking about this wrong and I should get a "blue chip" propertie that's for cg and is gunna be negative .
    Also about buying ips that I can add value too I wouldent mind that either , but I do live in Sydney and say for eg if I get one in qld It would prob be hard doing the Reno inner state not sure
    Yeah hopefully that's enough info , if you got more questions shoot
     
    Last edited: 20th Jul, 2016
  8. MichaelMik

    MichaelMik Active Member

    Joined:
    18th Jun, 2015
    Posts:
    42
    Location:
    Bahamas
    Use gunna hav ta werk it out mate.

    I think things are a little too general at the moment. Keep researching and saving and work out how much you can/want to spend, and what your strategy and end goals are.

    Good that your thinking about investing at your age man and already have so much saved up. Well done.
     
    larrylarry likes this.
  9. Special order

    Special order Well-Known Member

    Joined:
    7th Jul, 2015
    Posts:
    211
    Location:
    Nsw
    This is quite a general answer but if i was you i would be looking for something that would be paying for itself.

    The reason for this is that your 21 and if you were anything like me you might not want to have the burden of finding money every month to top up a neg geared property ...instead that money could be used to enjoy the experiences of life that you can endure and relish in at your young age, and you don't want to miss out on that!

    You have also stated that you are going to hold for a looonngg time so this should ensure you see a couple of cycles of compounding capital gains which won't make it that much more important to sourcing that sort of growth stock (right away) and will be more forgiving over that period of decade(s).

    putting 100k into a 400k property is going to make it cf+ anyway in many areas and there are some good areas ATM in SEQ where you can pick up something with a good yield that should deliver reasonable CG over the long term anyway.

    Someone recently posted about a buy in Runcorn or Underwood in the fours with a very good yield, maybe look further into into that. I think that being that close into Brisbane over the long term you couldn't go wrong IMO, but i am also thinking this way as i have vested interest in this market as well but its probable most Australian capitals will be consistent long term anyway.

    good luck
     
  10. JDP1

    JDP1 Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    2,840
    Location:
    Brisbane
    Id probably agree here. Research more. This forum is no substitute for research. With more research and just assessing your own likes/dislikes and rationales and goals, i tjink the picture will become clearer for you. Imo, thats when a forum such as this offers more value.
     
  11. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    I reckon you could find a good deal in almost any state.
    But on the flip side, you could easily find a stinker in Brisbane.
    As above, you need to do some more research. The Brisbane thread would probably be a good place to start ;)
     
  12. Jacque

    Jacque Buyers Agent and Bookworm, Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    519
    Location:
    Sydney
    Hi @Freedomlife94 and welcome to the forum!

    Firstly, a huge congrats for being able to save such a significant amount as $90K at your age :) Impressive indeed and I gather by your $1K per week that you're still living at home? Use this to your advantage as it really is the best time to save at your age.

    Re finance: first steps are to speak to a good broker to work out your loan capacity and serviceability. I'd suggest contacting one of the many excellent brokers on here - those I've worked with and would be more than happy to recommend on here would include @Rolf Latham @Michael_X @Peter_Tersteeg @Shahin_Afarin (apologies if I've forgotten anyone- just let me know!)

    Once you've set yourself up with a pre-approval of funds and have the right structure, come back and discuss budget and property type/location. Looking forward to hearing how you go :)
     
    Green likes this.