Hey everyone!
My partner and I are ready to buy IP number2, we’d like to buy in NSW or VIC as we have one in QLD but we’re not sure where! With all the growth that has occurred in Melbourne recently we’re not sure if it’s too late to invest there, and not sure if Sydney is going to boom next or not.
We’ve got about 500k to invest so any thoughts and ideas would be most appreciated!
Also can anyone recommend good buyers agents for Sydney and Melbourne?
Thanks in advance for your help!
Have a great day,
Heatherif you have money to invest, you should invest where there is potential for high capital growth, in areas that will give you good rental yields, low vacancies. that should be the basis for your criteria, not going for another state because you already own in QLD. if QLD gives you all of the above, and i know some areas like gladstone, rockhampton and ipswich is you should consider those areas.
do you want to make money of your IP#2 or do you want it to cost you $?
good luck!
one of the reasons to invest in different states is to avoid paying land tax in each state. At the moment there are a number of areas of Sydney that have good potntial for capital growth and some of these areas may also have newer purchasers who may be in financial stress with recent interest rate rises.
Another reason we want to buy in Sydney or Melbourne is so the tax man will buy us a trip there each year! (We’re in Perth).
Does anyone else have any advice?
Thanks : )IMHO there's no such thing as 'too late to invest'. It's only 'too late' when you're priced out, otherwise if you take a long term view I'm sure everything close to infrastructure is going to be worth its weight in diamonds eventually. Property works this way obviously because once you put your foot on a property and make it yours, nobody can take that location from you. And nobody can replicate that location completely either.
Why not Perth? Parts of Perth are still undervalued and probably good returns. I get the trip part
Maybe Adelaide before everyone buys it up? Yeah I'm getting the land tax blues but it really is just a part of the business of property investing. If you're paying tax, you're making money, right?D
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Maybe Adelaide before everyone buys it up? Yeah I'm getting the land tax blues but it really is just a part of the business of property investing. If you're paying tax, you're making money, right?You must be logged in to reply to this topic. If you don't have an account, you can register here.
