- s4053931Participant@s4053931Join Date: 2011Post Count: 2
I'm looking to buy an IP in Toowoomba suitable for an immediate, quick cosmetic reno to boost rent (and equity if possible) but also to subdivide/reconfigure in the near future.
I intend to hold at least the original dwelling for long-term capital growth and hopefully have it at least neutrally-geared after the reno.
I live in Brisbane and am not overly familiar with Toowoomba. Which suburbs would be most suited for this strategy?
Where is the demand for property greatest at the moment, what type of property and who is buying?
My budget for purchase cost is 350k max and am looking to maximise the yield in a high CG area.
Scottfredo_4305Participant@fredo_4305Join Date: 2009Post Count: 336
Any area close to the CBD. East Toowoomba is the prime suburb in the area which has properties you are after. North and South Toowoomba and to a latter extent Newtown, aren't to bad. There are also quite a few properties, that are on two titles and cost to subdivide than properties on one title. I use an Agent in Toowoomba from Elders Real Estate, Ashley North.