First IP $200-$250K pls advice - VIC

[naijacoder]

Hi All,
I would like to get into the market.
Looking for unit,apartment min 2 bedrooms. I'm happy to renovate and i'm good at doing it.Looking to spend anything between $200-$250K happy to pay more as it depends on location.

What would be the best suburb at this price that has got potential. I'm happy to have it for a long time as it grows.

** Was looking at tullamarine..Any advices would be appreciated.

Thanks in Advance

 

[littletee]

Definately Sunshine - it's booming at the moment and close to the CBD.

 

[jpcashflow]

Hi

Hi,

To be honest a 200K or 250K good investment property is going to be hard to come by.

Why is your budget so slow? I have learn that you dont make your money on cheap investment but on good properties that are bought a better rate then the current market.


What is your borrowing capacity?

Cheers

 

[Jake Milne]

I agree with JP above but there is some scope around $250k if you look towards Bendigo/Ballarat.

 

[Tranquilo]

Frankston north if your looking for a house

 

[coastal]

Hi,

To be honest a 200K or 250K good investment property is going to be hard to come by.

Why is your budget so slow? I have learn that you dont make your money on cheap investment but on good properties that are bought a better rate then the current market.


What is your borrowing capacity?

Cheers

There are plenty of properties under 200 k.

One of my deals..VIC 95k..$25 k Reno... bank value after 6 months $195k - refinanced at 80%. Renting for $260 pw

 

[jpcashflow]

There are plenty of properties under 200 k.

One of my deals..VIC 95k..$25 k Reno... bank value after 6 months $195k - refinanced at 80%. Renting for $260 pw

Hi,
Maybe you could share what area this property was in..always interested In other options.

 

[littletee]

Funny I mentioned Sunshine - http://www.heraldsun.com.au/realest...te-deals/story-fnhytr0m-1227163764474?login=1

 

[coastal]

Hi,
Maybe you could share what area this property was in..always interested In other options.

Hi this year I have purchased 4 doer uppers in mildura, Shepp, Bendigo and Horsham. I have renoovated all and refinanced 3.

The next year is to do the same and build up equity and also do 2 flips in Brisbane. I am trying to lean new ways to cut mu Reno costs..hence the reason I ask questions on ss ssometimes re Reno s