- IngridMember@ingridJoin Date: 2003Post Count: 2
I am European and new to Australia (arrived about a week ago – my husband is Australian and missed his home country).
I read “Rich Dad, Poor Dad” a while ago and have since been determined to become finacially independent through positive cashflow properties. I was therefore flabbergasted when arriving in Australia, as everyone (from real estate agents to accoutants) told me I was crazy, and that negative gearing was the way forward here. Being a European, I did not understand the logic of it (more precisely how it supposedly would help me achieve my goal), so I went to buy a book. Luckily I never got around to it, as I stumbled onto Steve’s book – which made my day by confirming that property investing here was indeed about + cashflow as well.
So I am now ready to invest, in QLD. Unfortunately I have quickly discovered that positive cashflow properties in Brisbane are nearly impossible to come by, due to the crazy property prices. Therefore – following Steve’s advise – I am now going to expand my search to regional areas. I am hoping that someone can point out a good area to me, as my other alternative is to pick up a map and drive around until I find one – which doesn’t seem very time effective
Therefore: can anyone please give me some hint as to where I might start looking? I would really appreciate that.
I am also looking at building up a power team, so if anyone knows an accountant that understands positive cashflow (and will not try to convince me to take the popular negative gearing approach) – please be so kind to give me his name!
I know that finding a region and building a power team are key tasks and require a lot of effort – so I do understand if noone wants to provide me with this information… I just hope someone will be so kind to lend me a little helping hand in finding my way in Australia (beautiful country by the way!).
Thank you so much!
IngriddiclemMember@diclemJoin Date: 2003Post Count: 537
Welcome to Australia and the forum,
I am not from Qld, I’m from Vic, but I am sure there are some queenslanders around here that will be able to give you some of the information that you need.
From the posts that I have seen lately there till seem to be some Positive cashflow properties in areas of Qld.
You might like to do a search in the archive topics, you might find some of the information there.
“Be careful not to step on the flowers when you’re reaching for the stars”AdministratorKeymaster@piadminJoin Date: 2013Post Count: 3,225
Try http://www.mainroads.qld.gov.au site. They have an auction coming up of 5 surplus to requirements government properties on 28th October. Auction site is 10th floor main roads building, 477 Boundary Street, Spring Hill, Brisbane. You may want to contact them if you want details – 3834 2229 (Brisbane area code = 07?)
KatMelanieMember@melanieJoin Date: 2003Post Count: 382
Hi Ingrid – welcome to the forum & Oz 
I am a mortgage broker in Brisbane and have seen lots of areas around Qld where people are buying very good positive cash flow properties. These include everywhere from Toowoomba west, Maryborough north especially in the bigger regional towns like Townsville, Rockhampton and Mackay, and even in some of the less popular local suburbs like Eden’s Landing and Beenleigh.
Nothing is going to get you off to a better start than research though and hunting through forum posts as suggested is a great kick-off. Also look for posts about helpful information sources, one of the best is http://www.realestate.com.au.
Good luck and if you’d like loan advice there are several Brisvegas folk on the forum who’d be happy to help.
(PS – Just fixing typos like suburb names … brain went to sleep before me last night!)wolf_2Member@wolf_2Join Date: 2002Post Count: 1IngridMember@ingridJoin Date: 2003Post Count: 2
Thank you all for your assistance!
Melanie – I have looked up the places you mentioned on the map, and will soon drive out there to research the area and understand the australian house market.
Does anyone know a good resource to help me structure my future IP? A read a book (written by Russ WHitney) which was pretty good, but it was tailored for the US market and I assume things are different here.
BTW – You might take it for granted by now, but you do have a fabulous country!!!wannabe2Member@wannabe2Join Date: 2003Post Count: 65rx2_73Member@rx2_73Join Date: 2003Post Count: 24
I think I know the units you purchased on 29 Grace St…. Just a word of warning, I looked at those Units just for the same reason you did, looked extremely cheap. But just a word of warning, do your due dillegence as there are some hefty costs involved with them… ie. they do not meet fire regulations, minor structural damage.. in a flood area, so when a flood occurs you have to get the placed cleaned, and house the tennants….There are a few other things, but just getting the fire regulation approval is a few thousand dollars…
If you look @ the other blocks of units in the area, this block stood out as being exceptionally cheap, and there is reasons for that…. Anyway I suspect you already know all this…..
 innisfail 1 hour south of cairns is going great at the moment,rental demand is extreme and prices are dead cheap,we just bought a block of 4 units for 165,000 rented out for 355 per week.if you need any more advice email is [email protected]