Does anyone have any tips on where to buy an investment property in Sydney for around $500-$550k ??? The only thing I can find are apartments in Rhodes or Homebush Bay vs houses in the west. I'm thinking apartments in inner west have more potential then houses in the west however little worried about the volume of apartments. Seems to be alot around. What are everyones sthoughts. My aim is capital growth and not so much rental yield.
$500k IP in Sydney
- Thread starter Puma1355
- Start date
Here's my advice:
http://www.somersoft.com/forums/showpost.php?p=722580&postcount=7
http://www.somersoft.com/forums/showpost.php?p=722580&postcount=7
I thought you just purchased in Five Dock 
http://www.somersoft.com/forums/showthread.php?p=734734#post734734
Houses prices there are a lot higher than $500-550k
Thank you. I ended up purchasing a house in Five Dock. Fingers crossed prices continue to go up
http://www.somersoft.com/forums/showthread.php?p=734734#post734734
Houses prices there are a lot higher than $500-550k
Strange as it may seem, but many people buy more than 1 x IPI thought you just purchased in Five Dock
Recently, I purchased 4 x IPs one after the other for a client over a period of 4 - 5 months or so.Yes, they are, but we were discussing apartmentsHouses prices there are a lot higher than $500-550k
Strange as it may seem, but many people buy more than 1 x IP
Yes, they are, but we were discussing apartments
I was referring to the other thread where the OP had mentioned he had purchased a house in Five Dock
What and where to buy is dependent upon your chosen investment strategy.
You see property is merely the vehicle.
The strategy is how you intend driving that vehicle. Unfortunately the mistake I see newbies and sometimes not so newbies is that they are property focused instead of strategy focused which is like putting the cart before the horse.
Property investing is not about property rather about the strategy and the way you intend to use the vehicle to get to where you are wanting to go. No good buying a small shopping car if you intend driving interstate on a family holiday.
What strategy/s are best for you is determined by where you are wanting to go, the time frame you want to get there in and how hands on along the way you want to be ( manual/automatic etc)
What is your chosen investment strategy?
I hope this provides some food for thought.
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Rixter, can you explain a bit further? My partner and I are in the process of looking for a place and are facing this conundrum now. Our budget is $450 which means either an apartment around Lane Cove etc or a house around Riverstone, Quakers Hill etc.
My take on what Rixter is saying is you really need to define your end goal and select the most appropriate property based on this. It's the old saying 'start with the end in mind'
A lot of newer investors will start by thinking 'ok, i've got 500k to spend, what sort of property should i buy?' without fully considering how this property will fit into their overall investing goals.
Once you define your strategy, the type of property you want to buy will become much more clear and this will narrow down your selection criteria significantly.
For example, an end goal strategy may be 'I want to acquire $2million worth of residential property over the next 10 years which will provide long term capital growth of 7% per annum that will be cash flow neutral'.
From this, you can then start looking for that type of property in suburbs that will meet your end goal, You may break it into smaller steps - by looking for 5x $400k properties in suburbs that have had long term capital growth of over 7% for the last 10-20 years, that have yields of 6-7%+.
Another example, 'I want to acquire 3x development sites over the next 5 years, which will allow me to value add by subdividing and developing 3 townhouses on each site'.
From this, you can start looking for properties with enough land content to develop 3 townhouses, in areas you can currently afford.
Starting with the end in mind will allow you to get your property selection right from the very start, rather than just buying whatever you can afford at the time, without really thinking about how this fits in with your overall strategy. The starting point, of course, is to define your strategy and end goal.
You can get Semi's in Arncliffe in the $500's.
No strata.
15 minutes to the city.
Done.
No strata.
15 minutes to the city.
Done.
Hi Puma1355
I grew up around Edensor Park (great area).
It sounds like this is going to be your first property. I agree with Rickardo - you will need to look at both your short term and long term goals.
A couple of further points you may wish to consider are:
- whether you will need to live in this place or will it be rented out in the near future
- whether spending (what I assume is) your maximum will financially limit you in making further investments in the future
In terms of growth areas, I also agree with Thesnowyforest - the St George may be the way to go if you still want something on the ground for a reasonable price. There's a little aircraft noise here and there (if you pick the right pockets) but it's close by to the city and if you live near a major station like Kogarah/ Hurstville, you don't have to wait too long for a train.
Have a look into it
Leoki
I grew up around Edensor Park (great area).
It sounds like this is going to be your first property. I agree with Rickardo - you will need to look at both your short term and long term goals.
A couple of further points you may wish to consider are:
- whether you will need to live in this place or will it be rented out in the near future
- whether spending (what I assume is) your maximum will financially limit you in making further investments in the future
In terms of growth areas, I also agree with Thesnowyforest - the St George may be the way to go if you still want something on the ground for a reasonable price. There's a little aircraft noise here and there (if you pick the right pockets) but it's close by to the city and if you live near a major station like Kogarah/ Hurstville, you don't have to wait too long for a train.
Have a look into it
Leoki
