All Topics / General Property / Interstate buying

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  • Profile photo of JothamJotham
    Member
    @jotham
    Join Date: 2012
    Post Count: 47

    Hi there

    I live in Sydney, how do I buy property in Queensland? say CBD area of around 450k, deos anyone who I can talk to or who can be trusted? answers will be  much appreciated thank you 

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Hi Jotham

    It's quite easy to buy interstate. 

    There's a couple of main options. You either do it yourself or use a buyers agent.

    With doing it yourself you'd carry out the same due diligence as you would if buying locally. Hone in on particular suburbs and do your research. You can learn lots remotely via the net and the odd phone call. Once you're ready to make the plunge it's best (in my opinion) to fly into the area and actually inspect properties in person. It's a small price to pay for a big investment.

    The other option is to appoint a buyers agent. You give them an idea of what you're looking for and they'll locate a property and negotiate on your behalf. Obviously this comes at a cost – but can be a great option for some investors.

    You're spoilt for choices up in Brisbane when it comes to BA's – you can try Richard Taylor or Andrew Allen who both post on the forum.

    Best of luck with whichever way you go!

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of simplesimple
    Participant
    @simple
    Join Date: 2006
    Post Count: 237

    If I would be looking to spend $450K, I would travel down for few weekends few times to get the feel, visit open homes and talk to agents. Hire push bike and ride lots in the area of interest, get the feel of the suburb.

    Then you leave and decide if you are comfortable to make a purchase yourself or need an agent. Remember, it's your money. None really cares about you making the loss or gain but to profit them self in transaction. 

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Of course another thing you have to remember is that your flight costs, hotels, meals bike hire etc for flying up to visit the properties is not Tax Deductible.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Hi Jotham

    Firstly welcome to the forum.

    You mention you are wanting to spend circa 450k yet want something near the CBD.

    My deduction would you are seeking a unit and to be honest if you were a client of ours I would talk you out it.

    There are some excellent inner city suburbs ( although I am slightly biased as nearly all of my properties are in Brisbane) but just be careful that you are not following the herd and buying another unit with high Body Corporate fees and dwindling net returns.

    You are more welcome to give me a buzz in the office during the week and I can talk to you more.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of mattstamattsta
    Participant
    @mattsta
    Join Date: 2011
    Post Count: 604

    If you're really keen on buying interstate, and not visiting it, you could do other forms of due diligence such as ordering building inspection reports and pest inspection reports from contractors in the area.

    You could also get other kinds of more thorough inspections for plumbing and electric. For the reports, you could get them to mail it to you or email it to you.

    Don't just rely on the comments made by the seller or real estate agent.

    Getting your own buyers agent, especially an agent who actually lives around the property, could be another option.

Viewing 6 posts - 1 through 6 (of 6 total)

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