Hi Everyone,
My wife and I are looking for our first investment property, we have enough equity in our own home to spend around 250k.
The two we are trying to choose between at the moment are:
http://www.realestate.com.au/property-house-wa-beachlands-115255251
This is a corner block that may fit 3 small units on it in the future but the house either needs substantial renos or be demolished.
http://www.realestate.com.au/property-house-wa-beachlands-114589107
This one is in much better condition so the house could be kept as a rental with a few small renovations, we should be able to fit one battleaxe block out the back.
We are planning to rent it out for a while then subdived and sell the existing house or blocks and keep a small block for ourselves to build a new 3x2
Any advise on which is the better investment would be great?
My wife and I are looking for our first investment property, we have enough equity in our own home to spend around 250k.
The two we are trying to choose between at the moment are:
http://www.realestate.com.au/property-house-wa-beachlands-115255251
This is a corner block that may fit 3 small units on it in the future but the house either needs substantial renos or be demolished.
http://www.realestate.com.au/property-house-wa-beachlands-114589107
This one is in much better condition so the house could be kept as a rental with a few small renovations, we should be able to fit one battleaxe block out the back.
We are planning to rent it out for a while then subdived and sell the existing house or blocks and keep a small block for ourselves to build a new 3x2
Any advise on which is the better investment would be great?