Hi I have been thinking about investing for a while. I live in Sydney and was thinking of investing in adelaide. I come down to adelaide regularly because my boyfriend lives here. I am attracted by the low prices and high rental yield. The options I initially considered were a one bedroom apartment in the CBD or a 2 bedroom apartment in a fringe suburb under 3k. But my other thought is to buy a property suitable for a family such as a 3 bedroom townhouse in Mawson Lakes initially as an investment with the option of moving into it in about 3 years time and spend up to 4k. But if things don’t work out and I never move into the property would it be an okay investment in it’s own right. I have been researching different areas but am still super unsure. This would be my first property purchase and I am risk adversive. I am concerned that if I make a bad investment I will then not be able to purchase my own home in a few years time. So if anyone has any advise about any of my questions that would be fantastic.
Hi and welcome Symo.
I would have a chat to a broker to work out your borrowing power. Once you’ve worked that out you can determine if an IP before a PPOR is a viable option. Have you looked at Rentvesting as an option? Apart from that just keep reading/researching, find a mentor who’s strategy suits yours and start putting a plan in place to reach your goals.
A few of us Sydney investors have meet ups in the city. I’ll post details when I have the next date. If you and your partner would be interested in joining us. It’s always good have newbie and plenty of people you can bounce ideas off.
Tony Fleming | Triumphant Property Group
http://www.triumphantpropertygroup.com.au
Email MeNSW Buyer's Agent specialising in Western Sydney-Blue Mountains-Orange-Albury
Hey Symo,
To be honest, I’d probably avoid all of the options you’ve suggested. Apartments in Adelaide aren’t up for a good track record of growth over the coming years with the considerable supply coming on stifling any chance of growth.
We actually ran a webinar speaking about the Adelaide market, statistics etc last last year – here’s a vid which might help in terms of ideas for types of investments: https://www.youtube.com/watch?v=63TAuulMW9c&t
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
Hi Symo
What is your property investment strategy? There are so many strategies that you need to get your head around.
Just because you know and like Adelaide does not mean that it will achieve your long-term goals of property investing. Remember that property investing is a long-term game that you have to play in order to be successful.
Patrick Ow
http://howtobuyrealestate.com.au
Email Me
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