I am currently researching areas of investment interstate. I just feel alittle hesitant in investing so far away.
Does anyone see any downside in an interstate investment? I always liked the idea of investing in the general area where one lives, as far as keeping an eye on your investment.
I recently bought my first property interstate, and I was thinking much like you hoping to get one closer to home. In the end do your homework.
I recently payed 27,000 for a 3 bedroom house and a lease for 12 months at 100pw. I think I would have been silly to pass that up. But its an individual call. The property is interstate.
Regards Bear
I think it is good idea to spread your eye over not just the state you are in. We have a cf nuetral IP in inner city Brisbane which has increased in value bigtime since we bought it. I must admit it took us a few plane trips to find the right one but as my parents in law live there it was worth the trip anyway.
Good luck – Do you want the stamp duty rates for each state too?
Bear,
Can you tell me where you bought this house for $27K ?
Its obvious then that I shall broaden my horizons and look interstate. I think my main concern was that i couldnt just drive by and look at the property occassionally and the fact that i dont have much faith in Agents.
Thanks Rugbyfan, i already received the spreadsheet with the Land Rates from you earlier today when i requested one.Thanks For the Advice my friends!
There’s the (minor?) condideration of land tax on single-state porfolios.
I plan to invest not only interstate but also in several countries.
Ultimately though, it depends what you’re comfortable with. I would have no problems buying sight unseen in a foreign country that I have never visited, if I ask enough of the right questions (Hmm, reminds me of that thread about real estate in Bagdad).
-Ian
The downside is that you may not know the market as well as the locals.
A major disadvantage that one trip may not overcome.
As long as you do a lot research, that should be fine.
If you try to take shortcuts or do it quickly, you are talking unnecessary risks.
My two cents worth.
Cheers[
],Herve.
The downside is that you may not know the market as well as the locals.A major disadvantage that one trip may not overcome.
As long as you do a lot research, that should be fine.
If you try to take shortcuts or do it quickly, you are talking unnecessary risks.
My two cents worth.
Cheers[
],Herve.
Always talk to the locals. Examples of things I did, I had a massage at one country town as I heard the masseur i used was not only a good masseur, she also invested in local properties and knew everything that was going on in town. Another town I went to the pub spoke to the locals and bought a drink or 2 for them. It’s amazing how much info a drink can buy. The local bakery and post offices I also found very helpful on info. Remember one thing tho, every where you go they will always say you should have been here 6-12 months ago, but that’s a good sign of a growing market.Regards Bear
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