I am looking at investing in the south west qld area i.e. Miles, Roma area (flood free areas hopefully).
I know the area is going ahead, and prices have risen, but is it too late to invest. I am looking at a few places around the $365k, which look ok. Is this too much, or has the capital growth gone already.
New to this investing, and would like other investors opinions.
ypunkin
It depends why you are investing. If it is purely for capital growth then you need to look at so many factors. Purely capital growth investing means you don’t have to invest in a certain area. Just find somewhere that you think will grow in value and plonk your money there by buying a property.
I don’t know a lot about capital growth as I am a cash flow investor. I invest for positive cashflow first, and then any capital growth I get on top of that is a bonus.
It is hard to tell if $365k is a good price or not because it varies from property to property. A house could be a bargain for 365k or it could be a rip off, each house is different. Do your research by looking at a lot of houses in the area.
Most importantly you need to have an investment plan. I stress this to people time and time again. Don’t just invest because you think you should. Have goals, have a plan and have a reason why to invest. If you want to get $40k/year in passive income you will invest differently from someone who wants to have $1million in equity. Each strategy is different.
Ryan McLean
http://CashFlowInvestor.com.au
Positive Cash Flow Properties Are Just A Click AwayRyan McLean | On Property
http://onproperty.com.au
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