200k best place to buy BNE

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From: David Simon


We have 200k or so give or take a little bit to buy an older house inner city or surrounds in BNE. We plan to renovate and then rent it out.

What are the best 3-4 suburbs in BNE for this sort of project that are showing the best growth and return on investment.

Regards David.
 
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Reply: 1
From: J Parker


David,

I bought in postcode 4171 a little while ago as it has been showing great growth over history, as well as recently, but rental returns aren't fabulous (I paid $255K, did c$13K of renovations and am getting $280 p/wk) but all agents I spoke too said things were on the rise, so I will try for more next lease. There are suburbs close too, that you can still buy for just over $200K. It really depends on how much of a reno you're prepared to do, and how much you want to spend. Good luck and happy house hunting!
Cheers, Jacque :)
 
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