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Investing in property in Australia - Advice please

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Jun 24, 2016
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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

Home runs feel good, but base hits pay bills!
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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
 
Joined
Jun 24, 2016
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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

Home runs feel good, but base hits pay bills!
Joined
Jul 11, 2006
Posts
11,534
Reactions
492
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.
 
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