Forum Replies Created
- megsaletta wrote:I was wondering am I better off buy a investment property or buying land and build a house and sell it for profit? Thanks, Jason.
Jason,
Hope all is well. It all depends on you and what you want out of it. Purchasing an IP is good if you are too busy to find the right property at the right price, and do your studies on it in order to develop it. With developing there is sometimes a bit of a wait depending on how many developments you are looking to do (ie townhouses/units/splitter blocks/etc) and also, organising townplanners, architects, etc etc etc.
I don't know much about any other states, but Queensland (Brisbane area), I know that DA approvals can take a while, but if you are looking to do under a certain amount (such as 4 townhouses/units) it is possible to fast track it. Obviously, if you are just looking to purchase a block of land and throw a house on it, then DA's will not take to long, as long as it is in the right zoning etc. If you are looking to do that, I recommend you organize a long settlement (difficult to find – but, by all means not impossible), and by doing this, you offset interest rates, DA's, etc.
It is more than just getting a block, throwing a house and 'capow,' profit… but, it can definitely be rewarding, just as it can be risky.
If you are based in Queensland, please do not hesitate to contact me via email, and I would love to help you in your new endeavour.
catl wrote:Hi there,needing some advice…I am of limited means and I am looking to buy. It is a competitive market and I am tossing up between one bedroom beachside unit (eg Gold Coast, Labrador) versus one or two bedroom inland (bigger ) unit (eg Gold Coast, Carrara, Nerang). Initially I will be Owner / occupied and will be looking to rent out unit in the future.
Any advice would be much appreciated,
Thanks Catl
PS I am new to property investment and if you are aware of any useful threads that might be relevent, would much appreciate the lead.
Hi Catl,
Hope all is well. The Gold Coast area as you know is booming incredibly. The thing that is most important in this circumstance is who you will be looking to rent it to after you are ready to move out, and also what will be close by in order for it to be rented long term rather than short term.
If you are looking to purchase, I definitely recommend something that will be there as a need for someone tomorrow. With one bedroom apartments, even though there are a selected amount of people that are interested in them, they are generally harder to rent – if they aren't in the right proximity – close to universities, colleges, etc, etc.
If you are going to stay down the coast area, I recommend a two bedroom and further inland rather than a single and around surfers for example. If Gold Coast isn't a neccessity, I would recommend Brisbane and possibly a townhouse (more room, better long term rent, and also more interest in the long run from prospective clients).
Let me know what you think and good luck with it!
eller wrote:Hi, All,I am new to this Forum. Goodafternoon everyone!
I am currently trying to buy my first investment residential property either in Adelaide or Brisbane around $300k. I am living in Sydney. I prefer to buy a house, Sydney is too expensive. Can any one give me some advices re the investment property in these two cities?
Thanks a lot.
Kind Regards
EllerHi Eller,
If you are looking for an investment property around $300K, I know (as mentioned earlier in some of the replies) it will be to find that price in Brisbane. However, as a developer, I can guarantee that if you were to increase your limit to the early $400K mark, you would (without any doubt) pick up a townhouse with 3 bedrooms, 2 bathrooms and 2 carspaces, in a great and growing area such as Carina (12-15 minutes from the city). Consistent and strong growth, facilities surrounding the site, shopping complexes, cafes, schools, etc, only metres away.
If at all you are still considering Brisbane, please let me know what you are looking for as in position (what you would like to be close to etc) and what the top limit you are looking to spend is. I may know just the place for you.
The reason I did not mention Adelaide is because I do not focus on any areas out of Brisbane and only look at their overall progress and situations. I have had not much need to move from Brisbane. It is booming at an amazing pace.
SteveMcKnight wrote:Hi,To throw in a different opinion, if I was betting on the next city in Aus to experience above average growth, I'd be putting my money on Sydney.
Adelaide is at the tail end of a recent boom, Queensland is experiencing a increase in prices, but when Sydney goes again, it will make both look insignificant by comparison.
All in all, there is money to be made everywhere. Your choice is best determined from your experience and skill base rather than picking a location and trying to strike it lucky. That is, what you do is more important than where you do it.
Cheers,
Hi Steve,
Is there any particular reason why you pick Sydeny? I completely agree on all the other aspects you mentioned about 'experience and skill' rather than picking and hoping for a lucky strike.
With Sydney currently being in an interesting position, do you think that people who are selling apartments down there for 1-2 million, and purchasing a decent sized house (and having a bit of change) in areas such as Brisbane would go back? Or are you considering foreign investors?
Thanks heap and I would love to hear your view.
All the best.
Frank
Hi Eller,
If you are looking for an investment property around $300K, I know (as mentioned earlier in some of the replies) it will be to find that price in Brisbane. However, as a developer, I can guarantee that if you were to increase your limit to the early $400K mark, you would (without any doubt) pick up a townhouse with 3 bedrooms, 2 bathrooms and 2 carspaces, in a great and growing area such as Carina (12-15 minutes from the city). Consistent and strong growth, facilities surrounding the site, shopping complexes, cafes, schools, etc, only metres away.
If at all you are still considering Brisbane, please let me know what you are looking for as in position (what you would like to be close to etc) and what the top limit you are looking to spend is. I may know just the place for you.
The reason I did not mention Adelaide is because I do not focus on any areas out of Brisbane and only look at their overall progress and situations. I have had not much need to move from Brisbane. It is booming at an amazing pace.
