Hi,
Im Joel I’m really interested in property investment. I want to buy an Investment property up $400K. I have a house thats worth $300K that is fully paid off. I’m thinking of using it as equity to get a loan approved of 400K. Now i don’t know where to buy, where can I research figures of potential locations where houses will rise? I’m thinking of buying a house in the Central Coast. Has anyone got any ides as to where is a good potential area of growth now days in Australia? By the way im located in Sydney. If you know of any strategies please forward them.
Thank You
Hi Joel,
One of the approaches to predict good capital
growth is to look at the historical figures
for a given area. If that area consistently
performed well over decades, chances are it
will continue to do so in the future.There is no one single source of information.
You can buy propery reports from http://www.homepriceguide.com.au/ as a starting point.Good luck,
Boris
“no pain, no gain!”
Hi Joel,
I would recommend you read Peter Spann’s book – $10M property portfolio in just 10 yrs. It will teach you how to locate such properties.
Happy hunting!
Regards,Sharon
Hi Joel. I would be looking at property that is reasonably close to home. In Central Coast explore whats being planned in the area.Make sure all the infilstructure is inplace. In the long term you will do better if there are water views.
John Groeneveld
Joel26,
I have found some of the reports from Residex on future capital growth prospects quite informative and instructive. I have used this data (with others) to pinpoint next purchase (specifically for development)
I would highly recommend you read both of Steve McKnight’s books. This will give you the preperation and help you stretch your mind.
Regards
TigerThank you everyone for your input, its great to know that people still are willing to find time out of their busy daily sctivities to give advice. Thank you once again
Hi Joel,
One of the moderators here Stuart Wemyss summed it up perfectly in one of Pro-Solution’s (his company) pdf:
http://www.prosolution.com.au/ps_docs/prosolution_doc051503_150306.pdf
Although dated, you will find much of the “guidelines” to be invaluable and timeless. Whenever you are looking for growth forget the “location, location, location” stuff (although that has merits it is not enough) think infrastructure, household demographics (look at percentages of owner-occupiers as opposed to renters in the area – this will give you an indication of the next important variable “demand”) anything near parks, water, shopping complexes and easy access to transport.
As for which state to buy in, that is a matter of choice; you’re the only one who can decide whether you don’t mind owning places far from home, or if you prefer to buy in your own backyard (so to speak).
Try council websites for areas you are interested in, call them if need be, and find out as much as you can about the current and future plans.
Good luck,
Jo
Joe that info was great thanks so much. If anyone else know of any info that is similar just feel free to add the link. Thank you again
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