Hello my name is Michael And I earn $46,000 per year casual job. Pay $155 per week rent and have $64,000 deposit. I was wondering where do you think would be a good place to invest in Melbourne . Werribee/ Melton or Norlane in Geelong? or if not would it be smarter to buy a cashflow positive property in Brisbane? I spoke to a mortage broker and he said i could borrow $350,000 for a PPOR or up to $400,000 on an investment property 95% lvr?
Thanks very much.
Hi Michael
Welcome to the forum and I hope you enjoy your time with us.
Might be slightly biased but I would look at Brisbane.
Market here is just starting to kick along nicely.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Richard,
Can you share some thoughts about why Brisbane / Queensland is a good area to invest in?
Cheers
Brisbane has some good opportunities in a number of areas, the prices up their unlike Melbourne and Sydney have not sky rocketed in the last few years. Areas such as Caboolture, Algester, Woodridge for example are cashflow positive areas, with good yields of 6-8%, be careful of Woodridge as their is alot of crime in the area. Their are also a number of good areas in Brisbane to invest for capital growth. Qld also has half the stamp duty cost that VIC and NSW has.
All good or bad options depending on your long term plans/goals.
firstly each step should be part of your path and it will be.
each step should set up the next.there are good options in the west melbz area, good sub div options etc, the main thing is how it will affect your personal cashflow, how it sets you up for your next property and the long term goals and your strategy. (e.g. buy and hold, hold and reno etc)
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
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