$250k to spend on an IP. Where?

[Poor Andrew]

Thankyou all for your comments regarding Port Macquarie. I think you talked me out of it. My only thoughts were that being close to the beach would have to yeild a long term benefit.

Just 2 more questions, Is now the best time to buy ie will the market drop in the next few months? I know that vague so sorry about that. I have heard prices in the US have dropped. Will we follow?

Where do you think is some good places to spend $250k?

Thankyou all for your help. I really value your comments.

Thanks

Andrew

 

[Cartoon]

honestly i dont think there is a specific area to target atm.
depends on what your after. me n the GF are looking to get another soon but were after a place we can play with (well i am lol)

I think if the numbers add up well then purchase it

As for pricing, if it drops it drops. if your numbers look good then a small drop wont bother u to much as it will come round sooner or later

 

[HandyAndy888]

Kingston, south side of Brisbane, between there and the Gold Coast. Prices have just dropped and I think they're set to increase in about a year or so...my hunch...

 

[Aimjoy]

Just 2 more questions, Is now the best time to buy ie will the market drop in the next few months?

With a buget of $250K you will be competing with FHB's up until 30 June 2009 as they take up the fed's & states grant money. Prices may even rise during this time. If it were me I'd buy this side of X-mas, the FHB's are off planning holidays & parties right now.

I have heard prices in the US have dropped. Will we follow?

No, and here's the reason why:
http://www.somersoft.com/forums/showthread.php?t=46394

Where do you think is some good places to spend $250k?

How about in your own backyard in SYD - usually the first 2 or 3 IPs should be around an area you know well & can research easily.

 

[Mom]

Young house in Sydney south west that come up for auction ( preferably mortgagee sale). That should provide you with CF+ after depreciation.

 

[imonmyway]

Sunshine West good sized blocks, 12km from CBD via freeway or arterial roads, trains, uni, public hospitals and schools all close buy. Rents in the 250 to 300 range for 3 bedroom houses. This suburb is gold if you ask me.

It is just to close to the CBD to be ignored it is also close to a lot of employment in the western industrial zones around laverton this area is hugely busy take a drive through there during the day the number of trucks coming and going is incredible.

With Melbournes population growth projected to be 5 million by 2020 the inner west properties will continue to grow at higher then average.

All this is my opinion only though and I am biased because I have one property in this area.