I am just starting out and have completed McKnight’s 0-130properties. I am currently on unpaid maternity leave (my hubby is bringing in the $$) and really do not want to return to traditional work so after months of reading and research I am ready to start our investment journey. I require a positive cashflow and am trying the model “11 second solution” however I cannot locate any properties in Brisbane or Ipswich that would work. Does anyone know of any residential properties (can be rural however I want to be able to drive to visit in a day) selling for less than $100,000?
I really appreciate your assistance.
Regards
JoanneHi Joanne,
First thing; I suggest you get Steve’s second book, as it contains a lot of good insights into the current property market. You probably wont find many properties that meet the 11 second test in the Brisbane area straight off the cuff, especially if you are looking solely on realestate.com.au. You need to get out and see some real estate agents in your area and ask them if they have any “problem” properties that they have found hard to sell. As Steve says problem + solution = profit. If you have minimal resources for a deposit/setup costs you may want to team up with a partner who has similar investment interests, this way you dont limit yourself only to properties 100k or less. Also, dont limit yourself only to residential properties, why not also look into commercial properties? Sometimes they can be more risk, but a good deal is a good deal!!
Hi Joanne
Borg is right you will not find any +cash flow property in Brisbane or surrounding suburbs away from the serviced type residential towers etc where you have high body corporate costs or management charges. Those days have long gone.
Personally for your first property I would steer well clear of commercial. You will be confined as to the amount you can borrow without offereing residential security or cash deposit.
Why not consider wrapping where you can have the best of both worlds. The ability to gear up on the investment as well as a +cash flow from day one.
Accept the fact that you will need to be looking in country Qld but that is not such a bad thing. We have over 90% of our 186 wraps outside of Brisbane.
Find a rural area you are confortable with and carry out as much research as you can. Talk to locals, agents and get a feel for the area as well as reading local newspapers to see what the market is doing as well as the demand for your service.
A little bit of hard work now will reap considerable reward in the future.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap service.Richard Taylor | Australia's leading private lender
Qlds007
Now I see why you bagged me for finding cashflow properties for people in SEQ. Its your vested interest in wraps. Love your work
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!
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