First IP- Where to Buy 100K-200K with good return
- Thread starter iprock
- Start date
Have you looked at the various Elizabeth suburbs in Adelaide?
Namely, Elizabeth South, Elizabeth Downs, Elizabeth Vale, Elizabeth North etc
There's also Davoren Park, which is next to Elizabeth suburbia
There's single detached houses on fairly large blocks above 600m in these areas for the budget you mentioned above.
The rent you get could be between 225 -280 pw depending on the condition of the house.
There is an Elizabeth Downs thread on the forum, you might want to check it out.
The other location you could look at is Brisbane 2 bedroom townhouses in Logan 4114, that is, Woodridge, Kingston, Slacks Creek, Logan Central.
There might be some other townhouses in Waterford West, Loganlea, Marsden or Crestmead. But pls check the Logan Flood Maps. Cheers.
Namely, Elizabeth South, Elizabeth Downs, Elizabeth Vale, Elizabeth North etc
There's also Davoren Park, which is next to Elizabeth suburbia
There's single detached houses on fairly large blocks above 600m in these areas for the budget you mentioned above.
The rent you get could be between 225 -280 pw depending on the condition of the house.
There is an Elizabeth Downs thread on the forum, you might want to check it out.
The other location you could look at is Brisbane 2 bedroom townhouses in Logan 4114, that is, Woodridge, Kingston, Slacks Creek, Logan Central.
There might be some other townhouses in Waterford West, Loganlea, Marsden or Crestmead. But pls check the Logan Flood Maps. Cheers.
Beanie Girl named the right spots. I flew across to Adelaide to check it out. Definitely worth a look.
Why do the flood maps matter? Properties which were flooded in St Lucia, Bulimba etc are selling well.
The 1974 flood was worse and those flooded areas have appreciated well.
I dont think we should get hung up on a once in 40 year event and I think as time passes the market begins to think this way.
Have a play with this site, which is powered by an APM engine: http://www.investsmart.com.au/property
If you leave the suburb blank and hit search, you can sort all suburbs by median price, capital growth, rental yield etc - for houses & units.
Logan was not affected by the slow rising Brisbane river flood of 2011.
That is because the river systems are different.
Logan and Albert rivers are the rivers that would affect Logan in a flood event.
"The flood of January 1974 was the most severe in recent memory. Severe floods have occurred in the upper reaches of the Logan River in February 1976 and February 1991".
For newbies to Logan, I would still strongly encourage you to check the Logan flood maps. Climate changes could mean more severe dry seasons followed by more severe wet seasons. These alternating periods of weather could also mean earth subsidence for houses. Strongly encourage building inspections to check earth subsidence and its effect on footing and slabs of houses. Of course, pest inspection is a must as well.
Sweet. Thanks.
Best Advice I was given when in this situation is save for a bit more.
We ate noodles and lived on a pittance.
Cut out everything not required in your life and save save save, it will come around faster than you think.
Low end of the scale can be quite difficult.
Also take the time to read as many posts here as possible, some very smart people around.
We ate noodles and lived on a pittance.
Cut out everything not required in your life and save save save, it will come around faster than you think.
Low end of the scale can be quite difficult.
Also take the time to read as many posts here as possible, some very smart people around.
If you are looking at Elizabeth/Adelaide in general, this thread has been going on ceaselessly since 2012:
http://somersoft.com/forums/showthread.php?t=76530
There's a lot of Adelaide threads around (especially at the moment), they should help you immensely if you gone down the path of buying a cheapie here.
http://somersoft.com/forums/showthread.php?t=76530
There's a lot of Adelaide threads around (especially at the moment), they should help you immensely if you gone down the path of buying a cheapie here.
I have a cheapie in Wagga I'm about to put on the market. Just to give you figures, I'm looking for 165kish and currently tenanted for $240 per week. Reasonable return but like other areas mentioned in this thread it is quite labour intensive. Was a good property to get in and learn about investing but wanting to focus on other opportunities now.
Do lots of research on the area you wish to buy in. You will have your mix of interesting tenants and you will become more experienced in problem solving/conflict resolution after a little while.
Do lots of research on the area you wish to buy in. You will have your mix of interesting tenants and you will become more experienced in problem solving/conflict resolution after a little while.
Thanks for this, not a bad little search. Is it possible to select by state though?
There are a lot of options to consider in NSW regionals with that price bracket, several of them are good options. Be careful to understand whether a town has a diverse economy or is based one one or two major industries, if so research how bright you think the future of that industry is. Also check capital growth histories, vacancy rates, population growth predictions etc.
Mining dependent - any inside word on progress there James?
