I cuurently have my PPOR in Canberra, 1 IP in goulburn & 1 IP in Hawker (Canberra). I have had my eye on Queanbeyan units for years now and am seriously considering a 2 bm unit very close to +ve geared. I would like other queanbeyan/ canberra investors thoughts on the unit situation in queanbeyan- previous experiences etc…
Many thanksMy question is why are you only looking at the same region again, spreading your risks interstate is a good idea. There are many close to +ve properties else where too.
Just a suggestion.
Roy H.
L.R.E.A., Dip FS (FP)Guardian Property Specialists (GPS) is a research-focused company that specialises in sourcing and providing residential investment properties Australia wide!
That depends on where in Queanbeyan you’re looking… The difference between one side of the river and the other is impressive… I have a friend who did very well with her ex-PPOR in the area closest to Canberra. I still like buying units in Belconnen more… [biggrin]Happy hunting.
indigo,
IMO qnbyn is a good place to invest for commercial property, residential not so much due to the big plans DHA have for residential properties in certian areas, contact DHA to see what plans they have its quite interesting!!peter
I have a 2br unit in Qbn, it has been continuously rented since I bought it, it is very close to positive gearing (in fact could be, but I want to keep the rent down to keep the tenant)I am able to manage it myself so less costs there.
I think this type of investment is sound, Qbn will continue to grow, and it will always provide for the cheap renter for the Canberra market.TerryT
Why would you lose out on income in order to keep a tenant? I thought we wanted to make money!
I have a 2br unit in Qbn, it has been continuously rented since I bought it, it is very close to positive gearing (in fact could be, but I want to keep the rent down to keep the tenant)I am able to manage it myself so less costs there.
I think this type of investment is soundThis makes no sense to me either….sounds like something a residential tenant or caretaker would say.
Your current rental rate is taken by other investors and renters alike as being the “market”, when it really isn’t. It’s more a xx% discount due to ‘scared factor’…or something. I’m sure this philosophy is more prevalent than others would admit. Ressy tenants love finding LL’s like this.
I agree with Dazzling
I personaly have searched high and low for +ve cashflow in Canberra / Qbn area for over 12 months now. Prices are generally too high for the rents you achieve.
I had a -ve geared place in Melb for a number of years and having recently sold it am not going back to -ve gearing ( how fast can you lose the dough). I am up for +ve stuff or increasing value in some way.
I want to make money and heaps of it not lose or limit my borrowing capacity or limit my purchases to 3-4. I want property and loads of it.
Problem + Solution = Profit.
Isn’t that why we are in the game – to make money for what ever reason?
Oh and just one more point. Why units when “Land appreciates and buildings depreciate. There isn’t a lot of, if any land value in units.
Can I suggest re-examining why you have these IP’s in the first place? What are you looking ot achieve in the long run?
MIT | Owen Real Estate
Email MeI currently live in Canberra and am new to this investor game. I have been looking around the Canberra and Queanbeyan market for the last couple of weeks however I too am finding it extremely difficult to find any CF+ve residences.
I am now looking at units which are CF+ve however I am particularly worried about the point that the last person delivers, that is that land appreciates and property does not. In everyone elses more experienced opinions, is it worth investing in units that offer no land and no chance of capital gains and to just solely concentrate on the cash flow every month???
I’m very excited by all this, I have the means to invest, yet I am confused as to if I would be making the right decision.
Any words of wisdom from people that have already been there would be much appreciated.Thanks very much for everyones time,
David MHello David,
“No Land” is actually wrong. For example you may have 10 units on 800sqm of land. So your unit has 80sqm of “real” land. Units do have some land content, obviously not nearly as good as a house though.
If you look at historical data units have gone up in price (thats a gross generalisation – specific places have their own histories). Yes units aren’t as good as a houses but they can still be a good investment.
Would you be generous enough to say which suburb / town has cashflow positive property???? Or will you wait until you setlle the property……
Tom
I live in Canberra and to be honest youll be very lucky to find +CF property in Qbn. There might be a few units here and there but usually the capital growth is pretty avg. I think its better to invest in SA/WA/NT. To make money in Qbn, either buy a big block and redevelop with some townhouses or buy a bunch of units reno them, strata them and resell for a profit.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
