Hi engelo10 – I had a look in Taree (my partner's has family and grew up there so I know the area relatively well) and could not identify any properties in the range you refer to. Old Bar looks like it has some good deals. A sleepy coastal town 15mins away, which recently had a supermarket chain open. Lots of properties on the market at the moment though….could be a buyers market?

Thanks everyone for your comments and feedback – it is all very useful to me.

I should clarify though that the property I co-own in Surry Hills which is valued at $700,000 has only $350,000 borrowed against it with my co-owner. I already have access to a $70,000 equity loan through this property which my property partner co-signed with me.

However, going forward the ultimate goal is to achieve a portfolio of cash-flow positive properties. I do not see flipping/renovating properties as my key strengths based on the time/resources I have access to, and I consider the risk to be too high in terms of the potential return.

I have been undertaking research into purchasing units in small coastal towns such as Old Bar (about 15mins from Taree) – access will soon be enhanced by the completion of the bypass of Buladelah on the Pacific Highway.

I also have seen evidence about Nowra being a worthwhile investment too. In any respect, my key goals are purchase low-cost/affordable properties up to $250,000 each in high growth potential areas that will provide positive cash-flow for the long term.

Look forward to hearing everyone’s thoughts now that my goal is clearer (I hope!)

Have a great day