investment property in brisbane city CBD

Have you considered Body Corporate Fee’s in the CBD, some are around 6k a year.
I’ve heard a good saying on the forum here ” Hope is not an investment strategy”
We’ve just been looking at properties in the cbd and found there was limited haggle room, properties in the sub 500k seem to be doing well and selling fairly quickly for pretty much on sale price.
Another good piece of advice i’ve picked up from here is that you make your money when you buy.
Make sure you get a good Mortgage Broker, our broker saved us around 3-4k in LMI, His name is Richard Taylor(qld007 on the forum here)
We moved a little bit Further out(Taringa) and Picked up a 3 bed 2 bath(122m2) for 370k with body corp $2.5k a year an currently rented at $470( due for an increase as current tenant has been in there for 6 years)
Hope this helps

saqib

Dont settle for what isnt right in the first place.

Studios and 1br have a high turnover rate of tenancies (unless you get incredibly lucky with your tenants). Thats going to affect your bottom line as that means additional property fees (letting and reletting) that cost you and get deducted from your rents.

Good property investing remains the idea of purchasing something which someone else will find desirable in two or three years time. Otherwise you are just riding the property against inflation. And for that you will be waiting a while …..

You can only afford 150k-180? Good. Then the rules STILL apply .. regardless of how small the startup capital is.

I have a five year snapshot on a deal i made in 2006. I lined up a series of 6 possible purchases and made what I thought would be the right long term choice. To sum it up quickly .. it was. The other purchases would all have gone up between 60k-100k in the five year period. As to my purchase .. its gone up 280k in that same five year period. And i've borrowed against that already.
Amount borrowed for purchase???? 208k  Estimated resale now @500k

Was it a once off? Since i have done it MANY times since .. the answer is no. But here is the same advice I use again and again. Buy value. Buy position. Buy as much property as you possibly can for your dollar. And make sure you keep what the property will cost you on a weekly basis in perspective.

Dont let an inital low borrowing figure lead to you making a bad purchase simply because thats ALL YOU CAN AFFORD. Thats rubbish. Bad purchases happen because good people make uninformed and uneducated decisions. If you need to learn what the right decisions are .. investigate that. There are lots of good books (insert Steve's book promo here) that you can grab to find out whats right to do. Or just follow the links in the forum to get an ounce of good advice.

Also if you are feeling that your initial borrow capacity stifles your chances of buying what u want … grab a friend and go in with him. Increase your buying power by either increasing your work cashflow or finding creative ways to put a solution together. Dont let a low startup and borrowing scenario stifle your investing creative genius. Think smart.