Plenty of other states are performing quite well Qld, Tas and SA.

I wouldn’t invest in Sydney at the moment unless you were looking medium to long term. Obviously depends on your strategy and end goal but if you have your heart set on Sydney you could look at creating boarding house style properties close to universities/job hubs. They are quite hands on projects though.

If you need any help or guidance feel free to send me a PM.

Terry has nailed it with the best option.

You could go regional but at the end of the day you will have minimal growth unless you do renovation work and a few extra thousand in cash flow compared to a savings account.

I’d talk to a investment focused broker to maybe map out the different options available. Might be worthwhile to switch banks and get a better rate for the principal and interest loan anyway.

I would never rule out investing again. Things change and Sydney might not be unaffordable for ever *fingers crossed*

Happy to pass on broker details we use for clients if you would like?

Welcome to the forum Kane.

I’d talk to a broker to work out how much you can borrow as the contract ending will more than likely be an issue. If financing isn;t an issue I’d pay 20% deposits and park the remainder in offset accounts.

I’m currently investing in Adelaide and there are plenty of bargains out there. I’d try an read up on a few strategies and see what you think will fit your future plans.

Happy to chat if you need and help.

When looking for a good broker regarding investment properties I’d check that they are actually an investor. Apart from that check client reviews and check to see if they have a wide range of lenders on their panel.

There are plenty of good brokers on this forum that i’m sure could help.

Agree with the pricing on the paint. I had a regional NSW with the cheapest quote coming in at $4200 for internal walls and skirting only on a 117sqm built house.

Welcome David and congratulation on your first home :)

As Benny said there is a wealth of education on this site and plenty of books out there. Sit back and work out your strategy first before jumping into anything. I found the best way was to work out what your end goal is and in what timeframe. From there you can work backwards and start planning it all out.

Any questions don’t hesitate to ask.

Hi DG,

As a BA I’m happy to help answer your questions.
– How can I judge whether appointed buyer advocate is trustworthy and will deliver result? Checking their licencing credentials is a must, this can be done on the fair trading website. With hiring any BA I’d ask about their portfolio, style of investing, previous purchases for clients, results of previous purchases, if they are receiving any kickbacks/referral fees and what contacts they have in the designated area.

– With money in hand (100k), I am planning to buy between 500k – 600k property. What should I expect to pay an advocate? Fees vary depending on states but as a rough guide anywhere from 1% to 2% on the purchase price.

– Is it OK to hire an advocate inter state? Yes.

– Is it find to have investment property in other states? Plenty of investors spread their portfolio over multiple states. It’s a good idea not to have all your eggs in one basket. I have multiple properties in Sydney, regional NSW and Adelaide. It works well as you are not stuck relying on one market cycle.

Hope this helps.

• This reply was modified 7 years, 2 months ago by  Tony Fleming.

As Nigel said I would be going to as many open homes and auctions in your targeted area to see what buyers are paying and looking for. You’ll also get an idea of who the good and bad agents are. Target the bad ones for buying and the good ones for when you sell.

Apart from that these days there are a number of online programs to make researching suburbs easier Rp Data, Pricefinder, SQM and ABS. Some of the sites you need to pay for but the amount of data you get is essential. Once you’ve done the initial research it is more about staying up to date with current sales.

That’s why people pay us Buyers Agents to do the legwork!

Guest wrote:

Oh that’s what I forgot to mention. I wanted to find like minded people, people that want to become entrepreneurs and investors, seems impossible everyone these days just focuses on studying at college or whatever.
You said a team of professionals that would include people like, mortgage brokers, real estate agents, lawyers, tax advisors etc. I had a question, in this book I read it said it will take time and energy to form a team, but surely it doesn’t take that long? Don’t all you need to do is call these people at the time when you need them? Or just call them and ask them if they are available?
Thanks also for the help.

The important thing is making sure they have experience in what you need from them. My first broker never had an investment property and it was a disaster. He didn’t know how to structure my loans to maximise borrowing power. It’s mistakes like this that can jeopardise building a strong portfolio.

There are a number of professionals on this forum or successful investors who would have contacts. I would give them a call and just have a chat about what you want to achieve, what they have achieved, can they help you, ask about fees etc. You can normally get an idea if you think they will be able to help you.