i am new in this game of +CF PI and i have been looking at properties in QLD only to notice that town houses are alot cheaper that a unit the same size in the same area – can anyone tell me why?
also being new to the game i’ve noticed how difficult it is to find CF +ve investment properties. do they really exist?
ANY ADVICE WOULD BE GREAT?
many thanks
Hi Bizibee
Re finding cf+ IP’s, depends where you look.More difficult in SE Qld, but quite achievable in more rural areas, or central, north or far north Qld. You should determine your investing criteria in terms of a town’s population, reason for existance, infrastructure etc. Some people might be comfortable buying in a town of population less than 10,000 with a healthy economy, whereas others might not consider anything under 20,000 pop. It also depends on how you are researching. The internet is great for geting a feel for an area, and you may be lucky enought to find a good deal that way, but you might also have to spend some time on the ground fine tuning your research. Plus, good deals are often snapped up before they reach advertising stage, so it pays to make yourself known to agents in an area you are seriously considering. Hope you are not too hung up on the 11 second rule, cos there are deals that have great potential that might not fit this initail criteria.
The most important thing is to – DO SOMETHING! The first purchase will be your hardest. Best of luck.
Wake
thanks for that wake,
in regards to buying in rural areas where the IP may be CF+, there will be no capital growth which isn’t such a huge deal (eventhough it would be nice). however how about vacany rates – would it be difficult to find tenants?
what stage of the game are you at – have you began investing? my issue is that i have been working for myself the past 6 months and am flat chat – i work seven days a week till late and time is an issue. hence th initial researching stage is taking a while for me to complete (in terms of area / location etc).
thanks wake
If they were easy to find everyone would be buying them.
I started by sorting by price through ljhooker.com.au in state of my choice. Minimum 2 bedrooms (takes out caravans etc). Then I started researching the areas the properties were in & decided on a target area. Still new, still learning,… but still having a go!
There are +ve investments out there, however what you have to remember is the investment property is geared aginst your income so if you are not on a high income the property will not gear positive…In theory the rich get richer.
What areas are you looking at in QLD maybe I might be able to help or point you in the right direction
Sue
Hi Bizibee
cf+ IP’s in regional areas can still get decent capital growth – you just have to look a bit more carefully. If you want some ideas as to what growth is predicted in different areas, check out the range of Residex reports at http://www.residex.com.au. They aren’t the bible, but can certainly help point you in a direction. It is also very possible to find regional areas that have good rental demand – this will coincide with good infrastructure and good employment prospects/reasons for existance.
We bought our first property in May 03, and are negotiating our 10th now. Jumping in the deep end means that the learning curve has been steep, but VERY exciting. We have 2 CF-, 2CF neutral and the rest are +ve to different degrees. We may not have done everything right, but we are much better off than we were before we did anything.
Good luck.
Wake
thank you so much for the feedback – very helpful.
very impressive WAKE – well done. is this what you do (IP) full time? i work for myself and it’s pretty full on at the moment and so any spare moment i get i devote to looking for good IP.
As you said PRECISEREALTY:
“There are +ve investments out there, however what you have to remember is the investment property is geared aginst your income so if you are not on a high income the property will not gear positive…In theory the rich get richer.”i’m not sure i fully understand what you have just said – what do you mean exactly?
in regards to your next question – i am currently looking in Logan City. properties also within my budget. however they’re still not +vely geared. so not sure what to do – so research continues.bizibee
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