$360,000 Perth

Hi all,

Hows it going?

I need some help. I'm looking for IP 2 in Perth and have a max purchase price limit of $360,000. I'm steering clear of aparments unless it's a very good deal.

I'm looking around the Joondanna, Glendlough, Osborne Park & Yokine areas for Villas and townhouses but nothing as yet has tickled my fancy. I have seen a 1.5 bed :rolleyes: villa in subi, yet to be listed that I could possibly pick up for $360,000. It's an old care takers villa so is set in the middle of an apartment block...unique but strange. Great street, huge block and very quiet complex but not sure about the whole, being surrounded by aparments on 3 sides thing.

Anyway has anyone got any other suburbs that they would recommend as having good future CG as well as at least an average yield.

$360,000 seems to be a really hard number. Good things for $450,000+ and plenty of apartments under $300,000 if you were looking that way.

Hrrmmm what to do!?
 
It's probably a hard number in those areas. If what you're looking for is 450+ in yokine, then you might find you need to start looking a bit further out. Tuart Hill for example, you can pick up 2 bed villas for around that price.

I looked in Yokine for a long time, then decided it was too expensive. I ended up going east instead, but Tuart Hill is a good prospect I reckon. Lots of villas but high demand given it's proximity to the city, freeway, coast, and most of all the price compared to nearby suburbs.
 
I have a 2-bedder in Tuart Hill (IP1 below) I may be looking at offloading soon, in this price range. I may end up keeping it for another 2 years or so though, but PM me if you are interested.
 
Bloody hell it's confusing - too many suburbs not enough knowledge

I don't really think it matters that much. Rising tide floats all boats as they say, and it's not difficult to identify areas with decent infrastructure and amenities.

Choosing a suburb(s) is the easier part.

The money is made more so in the specific deal (ie. undervalued or low price, ability to add-value, or higher than average yield).
 
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It's an old care takers villa so is set in the middle of an apartment block...unique but strange. Great street, huge block and very quiet complex but not sure about the whole, being surrounded by aparments on 3 sides thing.

How do you get a villa in the middle of an apartment block?

Have you thought about Cannington or Queens Park? Its in your price range and Cannington is satellite cbd.
 
Bloody hell it's confusing - too many suburbs not enough knowledge

A millionaire told me years ago, if you know where you are going one road will take you there. If you dont know where you are going all roads will.

Maybe there in lies the confusion - Food for thought.
 
A millionaire told me years ago, if you know where you are going one road will take you there. If you dont know where you are going all roads will.

Maybe there in lies the confusion - Food for thought.

Where have I suggested I know where I'm going ?

I either know what I want, but don't recognise which road to take, or I don't know how to define what I want.

I have no problem admitting this. Did the millionaire give you any advice beyond the rhetorical statement/saying thst one could use if they find themselves at such a point ?
 
Where have I suggested I know where I'm going ?

I either know what I want, but don't recognise which road to take, or I don't know how to define what I want.

I have no problem admitting this. Did the millionaire give you any advice beyond the rhetorical statement/saying thst one could use if they find themselves at such a point ?

Could possibly be the latter because its one's chosen strategy that dictates the purchasing criteria. If there's no purchasing criteria all property will look the same.
 
bought an ip nearly 6 years ago. bought a 2nd 6 mths ago. first was a near new villa, 2nd a new one. My t/house has little owing (I capitalised interst ont he ips to assist with this)

I figure building a portfolio is a good way to go, so want to add. Im not on huge money, nor that fantastic a saver.

By running the numbers, I have thought roughly that, I could accumulate a couple more, then something bigger, maybe commercial.

Depending on interest rates, my confidence and the market, it could be possible to by 1 this year and 1 next. This would see an Lvr of 70 odd, although high interest rates might mean a year delay. a few years later a commercial property, then wait 5 yrs.. The numbers stacked up at $4m+, with varying LVR's and positive cashflow dpeen ding on interest rates - 10% for 10 years and acpitaising shorfalls and this didnt really work. (Calculations also assuemd 5% grwoth & 4-5% rent return)

So I'm thinking I have enough LOC to buy soon and have at least a couple of years of annual shortfalls left of LOC available.

So, within my budget, do I look for land content, hence focus on certain areas I can afford with the hope that I may have more opprortunities later on (e.g. can afford to develop in a few years when value's gone up).

Or do I look for different properties and suburbs which coulld grow in demand - smaller properties.

In something like Balga, you could buy either for the same price, but there's lots more suburbs than Balga where I coudl afford a smaller proety like an apartment/unit but not one on a developable or large block

So what Im thinking is how do i learn more to be able to decide on a clearer way forward...there's lots of options

Hope that made sense
 
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Wow sounds like you have a few strategies. How exactly do you plan to derive income from them and how do they all fit in together?

Have you read my CGA strategy??...its not mix of several strategies tho - rather just buy residential, hold & duplicate elsewhere. Then milk the CG for tax free income and financial independence.
 
Didnt realise I ad so many plans Rixter, I wasthought I was more showing the thogughts and questions I'd come up with. If I knew what I wanted to do for certain cause I was convinced on it and it/'s suitability to me, I wouldnt be feeling like this - unsure.

I've read your CGA posts.

The idea is to buy & build a portfoli owhich some day I can draw income from like you've said.

but what how when and where is where I fall short.
 
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