First IP / Equity Plan

Hi All..

Hoping someone can give some good suggestions as to my query.. I am looking to build a solid equity base from purchasing my first investment property/s. I have enough income and savings to buy 1 or even 2 decent properties, i have done heaps of research into investment properties and spent time doing due diligence and research into many fundamental areas.

The will be my 1st investment property…. i am in Victoria and was looking to buy in south east qld. Research shows growth is strong there and purchase prices are relatively low with good rental return.. After crunching numbers and doing alot of due diligence, the opportunity looks good there (apart from the fact i am in another state that can make some things a little more tricky + FHOG benefits cannot be claimed etc..

I also have selected a few new properties in vic with great coastal location that will give 4 – 5% rental return / this would obviously give me $32k credit and very low stamp to get into the market, only catch is i need to lay down 5% deposit and building takes 12months.. After that time i also must live in for 6 months then i can rent or sell (2 bed – 2 bath unit in great location very close to beach)

OR

Purchase in QLD with 5-6% rental return, pay the higher stamp duty and forfeit any government benefits (4 bedroom house)

I only need to borrow 80% or less to and finance is good.. The current and future market situation is very uncertain but you need to start somewhere and even if i see very small or no growth in the near future i still have a starting point and in the market??

Please share your thoughts

Thanks !