2nd Property

[lpool05]

Hi Guys,

I am aiming to buy my second property with a budget of around $270. The problem is i want to buy somewhere in sydney rather than regional. Any suggestion???

 

[Jamie M]

Keep saving, $270 won't even pay for the conveyancer.

OK, bad joke. $270k in Sydney - start looking out west.

 

[alexlee]

Plenty of units in that price range. For houses..... Penrith?

 

[virgo]

Where to buy

Hiya

Have you considered Campbelltown area? I have an IP - a 3 bedder in Ambarvale (purchased 244K but that was '09 tho"); rented for 360 per week...

The South West of Sydney has good yields and projected to have great population growth.

I remember I had 6 tenant applications on first showing including 2 groups of doctors/interns studying/working in Campbelltown hospital/university of western sydney...this IP is near the massive MacArthur Square tho'
Check realestate.com; only 7 rentals available atm.

Have a drive around if you are free.
Hope this helps....

 

[cadence]

For 2br units in that price range, try Granville, Auburn, Lakemba, or suburbs out west Blacktown and further

 

[lpool05]

Thanks Guys...Great input...Becoming a fan of this forum now.

 

[lpool05]

Hiya

Have you considered Campbelltown area? I have an IP - a 3 bedder in Ambarvale (purchased 244K but that was '09 tho"); rented for 360 per week...

The South West of Sydney has good yields and projected to have great population growth.

I remember I had 6 tenant applications on first showing including 2 groups of doctors/interns studying/working in Campbelltown hospital/university of western sydney...this IP is near the massive MacArthur Square tho'
Check realestate.com; only 7 rentals available atm.

Have a drive around if you are free.
Hope this helps....

What about Macquarie Fields??? It near cambelltown and the prices of the properties are not bad...

 

[luvvit]

I second Campbelltown. Have a very nice performing house out there, bought at 230, rented after a cosmetic for 320 per week, in 2009, and now the rent is up to 360. nice performer, excellent property mgmt company that contact me when its time to review rent, ( like THAT i can tell you)

Id go again in a heartbeat if I found the right prop.

Regards
Luvvit

 

[trinity168]

Newbie question: How much weight does the safety/crime rate of an area have on your decision with an IP purchase (without considering this being converted to PPOR in the future, of course).


Thanks!

 

[virgo]

PM needed

I second Campbelltown. Have a very nice performing house out there, bought at 230, rented after a cosmetic for 320 per week, in 2009, and now the rent is up to 360. nice performer, excellent property mgmt company that contact me when its time to review rent, ( like THAT i can tell you)

Id go again in a heartbeat if I found the right prop.

Regards
Luvvit

Hi Luvvit

Care to share this excellent pm of yours???

thanks a lot

 

[Jacque]

Houses- start looking west of Blacktown
Units- Parra area and surrounds
Can't help on south side

 

[cadence]

For 2br units, try Auburn, Lakemba, Wiley Park, Campbelltown, Liverpool (and surrounding suburbs).

For 3br house standalone, I think you might have to go further than Penrith ... Most decent ones in Penrith are into the $300k's already.

Happy hunting!