Investing in property in Australia - Advice please

[MrJez]

Hi,

I'm thinking about buying my first investment property in South-East Queensland, which is where I live. I have some equity in my house that I can use as well as some savings. I am beginning to research this topic and am going to a "property investment evening" next week sponsored by a local real-estate agent. I am also planning on meeting with an accountant to get an understanding of gearing and tax rules around having an IP. Can you recommend any good books that I can read? Also if there is anyone reading this that is experienced in property - do you have any pearls of wisdom or advice about potential things to avoid. I would really appreciate any advice!

 

[CanOz]

We used a Buyer Agent. They do all the leg work for you but in essence you need to decide what you want it for. We wanted it to pay for itself. So we wanted cash flow positive. We wanted a good area that won't get much supply pressure, i.e. new apartments. We wanted close to train, close to CBD, close to shops. This keeps it full at a good price. We went for yield , so we looked for uniqueness and value with all of the above. We've got two and we're living in one while we look for a house.

CanOz

 

[MrJez]

We used a Buyer Agent. They do all the leg work for you but in essence you need to decide what you want it for. We wanted it to pay for itself. So we wanted cash flow positive. We wanted a good area that won't get much supply pressure, i.e. new apartments. We wanted close to train, close to CBD, close to shops. This keeps it full at a good price. We went for yield , so we looked for uniqueness and value with all of the above. We've got two and we're living in one while we look for a house.

CanOz

Thankyou CanOZ.
Using a buyers agent sounds like a really good idea. Do you know if it is tax deductible? How did you find a good agent - was it word of mouth?

Our goals with an IP sound similar. I also want it to pay for itself. Within 10KM of CBD, good transport links and near shops etc. Did you purchase house or apartments?

Has your experience of being a landlord been good?

Thanks!

 

[CanOz]

Thankyou CanOZ.
Using a buyers agent sounds like a really good idea. Do you know if it is tax deductible? How did you find a good agent - was it word of mouth?

Our goals with an IP sound similar. I also want it to pay for itself. Within 10KM of CBD, good transport links and near shops etc. Did you purchase house or apartments?

Has your experience of being a landlord been good?

Thanks!

We purchased a dual key apartment/unit and a townhouse. We don't manage the properties so its just approving maintenance and repairs...Body corporates are pain in the a$$

We used YourPropertyHound

We were very happy with Matt's service.

 

[Rabbithop]

Hi,

I'm thinking about buying my first investment property in South-East Queensland, which is where I live. I have some equity in my house that I can use as well as some savings. I am beginning to research this topic and am going to a "property investment evening" next week sponsored by a local real-estate agent. I am also planning on meeting with an accountant to get an understanding of gearing and tax rules around having an IP. Can you recommend any good books that I can read? Also if there is anyone reading this that is experienced in property - do you have any pearls of wisdom or advice about potential things to avoid. I would really appreciate any advice!

Wanna buy my Cleveland Town house? Currently rented with tenant. Not far from Stradbrook Ferry terminal as well as the Cleveland railway station. This is my last property in QLD to be sold. The Last is the Best. Tidying up financial loose ends just in case The Almighty summons moi.
My Advice..Don't act in a rush, attend as many seminars as your time permits, listen and jot down the good points...Never let anyone rush you into it or entice you with a dangling carrot eg No worries, if you buy from us, we can get a tenant for you and look after you. A club with many years of experience and have great mentors. I won't reveal who is it. If you post your questions here, I will try to answer it or you could email me.
Had sold the T/H in Nerang, walking distance to the station. An apartment in Biggerra Waters and a Studio unit in Tweed Heads.
The only property in QLD doing great is Cleveland other than that A Sydney property that I did my own research rewarded me abundantly. Captal Gain...Three times over...