Hi,
I’m new to this forum and new to property investing. I’m looking at investing in property in the next few months and was just wanting some feedback on areas as well as any other feedback anyone may have for someone just starting out
I haven’t got any specific state or area pinned down as of yet, but am open to buying in all different places, it seems to be the general idea not to invest all your money in one particular place….QLD
1. Redcliffe
2. Woodridge
3. North Lakes
4.Brisbane CBD
5. Kangaroo Point
6. Sunshine Coast in particular Pelican WatersNSW
1.Ultimo
2. Edgecliff
3. Rushcutters Bay
4. PyrmontSA
I’ve heard a lot of talk about Elizabeth Shire, Christies Beach, Seaford
I live in QLD and used to live in Sydney so am more familiar with those areas, but would be happy to invest anywhere. I have about 700-900k to spend as a starting point.
TIA
I’m in SA and looking at areas around elizabeth etc….. but you haven’t really mentioned what your after? what sort of things are you looking for?
Elizabeth is pretty cheap, because its about 20-25 mins drive from the city centre and considered one of the “dodgy” areas, Christies Beach is a bit of a drive out of the city too… but in the exact opposite direction from Elizabeth. its a less “dodgy” area then elizabeth, but also a bit more isolated, Elizabeth has 3-5 major shopping centres within a few minutes of it. Christies Beach has 1-2 ok sized ones near it.
Dont know what else to say without knowing what you want more.
Thanks for your feedback illuminati.
I actually don’t have a specific idea of what I want in terms of what type of property. I’m looking to buy a few properties that can be rented out fairly easily, and may have some capital growth over the next 10 years.
I am trying to start building a portfolio of properties, so would be happy to buy a mixture of things and diversify as much as I can.
Do you know if Elizabeth has any signs of improving from being dodgy? Also, since you’re looking in the area would you have any ideas of where would be considered safer for renters? And last but not least, would you say you could get a decent 2/3 bed for around 200k?
thanks again, I really appreciate your help
i am looking at 3 bedroom houses in elizabeth ranging from 170 to 200,000. i have friends in tiny 3 bedroom duplexes in that area who are paying 260 a week rent. so a 3 bedroom house for 170 sounds good to me.
The area is considered dodgy, but like i said, i am looking in that area… the reward outweighs the risk i think. Just make sure you have nice tenants and it is fine.
In a little bit closer to the city… much closer.. northfield, etc places are 250-400,000. but are much nicer looking, but rents are similar, or only slightly more. so the returns are much better out further.
HOWEVER, just near northfield a large development has just taken place and the value of those properties will definitely increase over the next 10 years. northfield and nearby areas are right on the rim of the price change…. areas 2-3 minutes closer to the city are 400-500,000. and these prices will continue to move to the suburbs slightly further out as these developments improve the feel of the area.But these are where i am looking! so dont steal my properties!!
Firstly welcome to the forum Lora and I hope you enjoy your time with us.
Must admit I am slightly biased as i have all of our properties in Brisbane and SE Qld.
Personally i would avoid the CBD like the plague due to the high BC rates and short stay tenants and wouldnt buy in Woodridge.
I am a fax of the inner western suburbs such as Toowong, Taringa, Indroo although i also have properties in Carina.
Happy to email yo a Residex report on any property you are looking at it. I subscribed to assist me with my due diligence on some inter state properties i am looking at as every little bit helps in doing your assessment.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
@ illuminati thanks so much for that information, and I’ll try not to steal your properties
one last question for you, I heard about an area called Onkaparinga Shire (sorry don’t know the spelling), do you know anything about this area?@richard Thanks for your reply and offer of the reports, I might take you up on that once I get a bit deeper into all this, can I ask why you wouldn’t buy in Woodridge? Would you look at Logan at all, or steer clear of that as well? Also why do you favor the inner western suburbs?
Thanks to everyone this forum is really helpful and I’m really excited to have found it
Sorry another question for both Richard and Illuminati (or anyone else as well)
Do you have any recommendations on where to look for properties in the areas you’ve suggested (i.e websites, particular agents etc etc)? Or are you able to recommend any professionals in the industry who are able to assist?
TIA
The onkaparinga is a bit of a loose term dont know the “shire” but basically they are talking about anywhere in the southern suburbs near the onkaparinga river, this could mean norlunga (a low-middle income area) or reynella (an older suburb with some wine heritage) Morphetvalle etc. they are fairly good areas, nice parks, river, close to the sea, its one of those areas that just kinda blend into the mass, they dont jump out. But that could be a good thing, Nice middle ground investing area.
Dont know much about prices in that area, but i do have some friends in that area, there is a large shopping centre, and the express way helps with driving to and from the city. there are also trains.
I’m just browsing realestate.com.au atm. but i think i might go check out some of these places soon, and then get friendly with the agents representing them, and see what else they have. I was thinking myself about checking who is representing the majority of the properties i have been checking out.
I live in Northgate In SA the updated area next to Northfield. In Northgate properties are about $550-750K for an average 3 bedroom place and rents are about $370. The properties in Northfield are at times selling for ridiculous prices, it isn’t unusual to see an old weatherboard (old commission often) place sell for $260-300K and then within the next few months be knocked down to make way for a couple of townhouses or a gorgeous 2 storey place. I am thinking Clearview or Hillcrest may have a few more options. I haven’t looked at either option on realestate.com but this is my impression from living in the area.
Elizabeth has been dodgy my entire life! Settled by English immigrants originally in the 60/70s and containing a considerable area of housing commission houses. I have worked in schools in Elizabeth and they are rough as guts! However, there are some areas that are better than others, house prices are still reasonable, it was a satellite city to Adelaide (originally) and it therefore well serviced, there is a high rental population. So in other words there is plenty of scope!
Cheers
I haven’t got any specific state or area pinned down as of yet, but am open to buying in all different places, it seems to be the general idea not to invest all your money in one particular place….
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