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First time investor - Where to invest?

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Nick | 18 Nov 2015, 09:59 AM Agree 0
Hi Guys,

Would just like to say, I love the magazines and thought I would join the forums. I have been dabbling for a long time, to get into the property market. But I have to admit, I was one of the people who said "The market is at its premium now, I will wait when the price declines". Truth be told, that day has never arrived.

So now, I have decided to put my foot down and look at buying my first investment property. I live in Sydney, but I believe that Brisbane will be the best place to start. Ideally, I would like a property that will pay off my interest only loan through, rental revenue. I know this is achieved able with apartments, but is it possible with houses? I have a borrowing capacity of 700k, ideally I would like to spend no more than 500-550k, for my first investment property.

What suburbs, in Brisbane, should I be looking into that will achieve these results? Or should I be looking in Sydney? I personally think Sydney is over inflated, do people share this opinion with me? Should I hold off and buy a property in Sydney, when the price starts to cool down?

Any insight into helping me get my first investment property would be much appreciated.

Thanks in advance

  • Bill | 20 Nov 2015, 04:28 AM Agree 1
    Just the thoughts of a visitor here, so be sure to do your own analysis...

    Beenleigh. Houses still selling here and there for under $300,000. 5% returns currently reported. Rates are maybe a little steep - or possibly not, I don't know what you pay in Sydney - but they've just done a big town square development that opened in the last couple of weeks in the town centre, and it's becoming more like a cafe precinct. Lots of new units going in around town too, I notice. The area seems to be doing well at the moment, in any case.

    Canungra. Seems to be going up over the last 2 months, as per the suburb profiles provided on this site. Also, the Fungs reportedly plan to put in a big resort a few minutes away, at Patinack Farm, so that's a possible benefit for the future, if it goes through. Not too far to the Gold Coast beaches and might well get a boost from the Commonwealth Games when they arrive in 2018. If you don't get 5% returns you'll probably come close.

    Just my thoughts. Good luck.
    • Nick | 02 Dec 2015, 08:00 PM Agree 0
      Hi Bill,

      Thanks for the reply. Apologies, for my late reply, I was away for work.

      Thank you for those suburbs. I was looking at places like Logan, however, I was told that these places are "rough around the edges" and I should tread with caution when looking at these suburbs.

      Ideally I would like a positively geared property, that has a potential for growth.

      I was told to stay closer to the CBD as possible, as these properties will be occupied by better tenants, is this true?
  • Bill | 05 Dec 2015, 03:30 AM Agree 0
    Some suburbs in Logan are a bit rough, but I find Beenleigh isn't too bad. Just my thoughts. I don't know whether you'd get better tenants or not closer to CBD. Sorry! :)
  • Bill | 05 Dec 2015, 03:30 AM Agree 0
    To clarify, I've never rented a place out in Beenleigh though...
    • Nick | 15 Dec 2015, 08:45 PM Agree 0
      Thanks Bill. I am still doing my research and was looking around the westlakes area. I will do more research into Beenleigh. Thanks for the heads up!
  • Mark M | 09 Dec 2015, 07:07 PM Agree 0

    I own a place in Coomera. New dwelling last year in Genesis Estate. No complaints so far.
    Just bought a place in North Lakes too although new stuff is getting harder to find there.
    Good luck
    • Nick | 15 Dec 2015, 08:49 PM Agree 0
      I have also been told about Coomera. What I am worried about is I might get into an area which already has too much supply with not enough demand. That is the part I am worried about the most. I will continue with my research. Thank you, Mark M.
  • GeniusPat | 14 Mar 2016, 10:11 AM Agree 0
    Hi Nick
    Just wondering how have you gone with your investment property research & plans
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