Hi guys,
Looking to purchase another IP, planning to buy something that I can do a makeover, renovate and hold long term.
I am deciding between a 2 bedroom unit in Cabramatta NSW, very close to the Cabramatta CBD or a 3 bedroom house in Minto NSW. I am generally conservative, but I would like capital growth in the next purchase and reduce my tax debt through negative gearing. I don't know the suburb of Minto very well.
Which one would yield me better results in the long term? I am concerned that a Cabramatta unit won't be as great in terms of capital growth but I know renting a unit out there isn't an issue. But will a Minto house be more prone to being vacant, as I feel there would be more buyers there than renters - therefore higher risk?
Thanks all.
Looking to purchase another IP, planning to buy something that I can do a makeover, renovate and hold long term.
I am deciding between a 2 bedroom unit in Cabramatta NSW, very close to the Cabramatta CBD or a 3 bedroom house in Minto NSW. I am generally conservative, but I would like capital growth in the next purchase and reduce my tax debt through negative gearing. I don't know the suburb of Minto very well.
Which one would yield me better results in the long term? I am concerned that a Cabramatta unit won't be as great in terms of capital growth but I know renting a unit out there isn't an issue. But will a Minto house be more prone to being vacant, as I feel there would be more buyers there than renters - therefore higher risk?
Thanks all.