All Topics / Help Needed! / $300k to spend. Where should I buy and why?

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  • Profile photo of bigdellbigdell
    Participant
    @bigdell
    Join Date: 2013
    Post Count: 20

    Hi Everyone,

    So I have approximately $300k to spend on an investment place in the next 2 months. I have been pouring over the figures in API and I keep coming back to Toowoomba (mainly due to me being comfortable with an area I know and having many properties within my price range).

    I was just wondering where other people’s thoughts are at the moment in regards to what area’s they are buying and why?

    My main focus is to be able to expand quickly over the next 12 months and then re-evaluate my position.

    Focus is Buy/Hold maybe even Buy/Small reno’s (paint, fittings etc)/revalued/Hold for the first place to get some equity behind me and then looking more towards getting some positive cash flow happening with the subsequent properties.

    Reason for this is my ability to service the loans is not an issue however I don’t have huge amounts of cash on hand atm.

    Any input would be great as I haven’t posted for a while and just wanted to ask something to get back into it :)

    Cheers

    Kendall

    • This topic was modified 7 years, 4 months ago by Profile photo of bigdell bigdell.
    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi Kendall

    Good to see you on the forum and not just in a coffee shop lol.

    I don’t think you can’t go too far wrong with Toowoomba especially seeing you know the area well with the family connection.

    Still seeing a lot of deals there that stack up well.

    Cheers

    Yours in Finance

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

    0-40 Properties in a decade with an unencumbered value of over $35M. Email for a copy of my API article

    Profile photo of bigdellbigdell
    Participant
    @bigdell
    Join Date: 2013
    Post Count: 20

    Hey Richard,

    Thanks for the reply! Haha yeah I haven’t got around to posting lately have been a constant lurker though.

    I was also really interested in where other people are looking at the moment and there reasoning behind it. I have been looking at places around the Gold Coast, South Brisbane, Newcastle and even as far as Albury/Wodonga. With some places showing very strong yields from what I have found.

    Just wanted to see what was on other peoples minds?

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