Hi,
Long time lurker, first time poster.
I'm currently looking to purchase my first IP and am looking at the Murrumba Downs and surrounding areas.
I've picked this area as it:
Seems to be a nice residential area with a mix of families, couples, retiree, homeowners and renters;
It is in the path of the new northern rail line;
It is within my budget;
Lots of new infrastructure being built (Costco, Bunnings, Ikea, North Lakes shopping);
All this I'm hoping will lead to increases in CG in the short to medium term.
I'm looking at a buy and hold strategy initially, trying to buy something that will be easy to rent out and also potential for CG. I want to be able to pull equity out of it within the next 12-18 months to buy a send. The plan is to try and repeat this.
I have a max budget of $450K, lower if possible.
I have a few questions:
How far should I be looking from the main train stations, local shops, schools for it to be desirable from a renters perspective?
I see a lot of places that I wouldn't necessarily live in myself and don't know if they would be a good investment.
Conversely, there are many properties that I would live in (usually) at the upper end of my budget) but am not sure these would be good investments either.
What are some other good suburbs around that area that I should also be looking at?
Any help much appreciated.
Cheers,
Aaron
Long time lurker, first time poster.
I'm currently looking to purchase my first IP and am looking at the Murrumba Downs and surrounding areas.
I've picked this area as it:
Seems to be a nice residential area with a mix of families, couples, retiree, homeowners and renters;
It is in the path of the new northern rail line;
It is within my budget;
Lots of new infrastructure being built (Costco, Bunnings, Ikea, North Lakes shopping);
All this I'm hoping will lead to increases in CG in the short to medium term.
I'm looking at a buy and hold strategy initially, trying to buy something that will be easy to rent out and also potential for CG. I want to be able to pull equity out of it within the next 12-18 months to buy a send. The plan is to try and repeat this.
I have a max budget of $450K, lower if possible.
I have a few questions:
How far should I be looking from the main train stations, local shops, schools for it to be desirable from a renters perspective?
I see a lot of places that I wouldn't necessarily live in myself and don't know if they would be a good investment.
Conversely, there are many properties that I would live in (usually) at the upper end of my budget) but am not sure these would be good investments either.
What are some other good suburbs around that area that I should also be looking at?
Any help much appreciated.
Cheers,
Aaron