Inner West

[jkat]

What about these location:

Holroyd
Auburn
Merryland

These are well and truly West not Inner West.
As someone who lives in Parramatta area

Merrylands - has a lot of housing commission and 'rough' areas, but also some family friendly areas/working class areas. You can really tell which parts of the suburb you should drive through with your doors locked.

Auburn -- high migrant/refugee communities, lots of ethnic diversity, lots of services, trains etc but you will probably have a higher turn over of tenants as people move in/out based on their visas, family needs and other issues.

Just my 2c

 

[cadence]

hey guys. still on the hunt as ive lost out on a bid and have added more suburbs in my search such as pagewood , rozelle and lilyfield. anywhere close to the city and public transport.

What's your budget kingy

 

[kingy]

hey cadence. depending on the rental yield so budget will be up to 1.5m. this will be a JV with a family member so the rental yield will have to pay off the P+I.

 

[xurge]

What about Banksia, Arncliffe, Tempe, ?

Some developers already making move in Banksia and Arncliffe

http://www.theleader.com.au/story/3...-who-live-in-priority-precinct-zones/?cs=1885

 

[JohnHenry]

Some developers already making move in Banksia and Arncliffe

http://www.theleader.com.au/story/3...-who-live-in-priority-precinct-zones/?cs=1885

Tempe is already expensive.

maybe oneday when the airport has moved from Botany to badgery Creek, it will soar up in price even further ?

 

[windyzz]

Tempe is already expensive.

maybe oneday when the airport has moved from Botany to badgery Creek, it will soar up in price even further ?

I doubt it, being close to airport doesn't guarantee the increase in value. Look at Botany, and Mascot, it has only recently being redeveloped which caused price to go up. Being Close to CBD, and other popular attraction (cafes, shops,etc) will drive up the value.

 

[JohnHenry]

I doubt it, being close to airport doesn't guarantee the increase in value. Look at Botany, and Mascot, it has only recently being redeveloped which caused price to go up. Being Close to CBD, and other popular attraction (cafes, shops,etc) will drive up the value.

Mascot.... Hm.. yes, what I guess that's because the Green Square has been confirmed for gentrification process.

Make sense that way.

 

[windyzz]

Mascot.... Hm.. yes, what I guess that's because the Green Square has been confirmed for gentrification process.

Make sense that way.

Exactly, and being close to the new eatery around Alexandria pushes the prices up.

 

[cadence]

if you want a house, it's hard to find anything in inner west at that budget that would be cashflow neutral or positive

some houses in inner west sell for 1.5m and rents for $1kpw max

you might need to consider just buying something that's cf negative, and then come up with ways to turn it into neutral/positive eg: renting the house to multiple people, or chucking a granny flat on the back

does it have to be inner west?

if you can expand the location eg: west, south, southwest, you will have a lot more choices

 

[Thesnowyforest]

What about Banksia, Arncliffe, Tempe, ?

3 great suburbs that everyone forgets.

Bought my ppor in ARNCLIFFE 2010 a week or two after the last interest rate hike.. (huh wots an interest rate hike.. everyone has forgotten them lol) Just luck in hindsight. we were just buying our 1st family home.

bought $595, now im guess $1.1 - $1.2 easy.

had a huge roof space so i did the owner builder thing and now have a 2 storey semi.. the roof space isnt the normal style, its massive. about to put a bathroom up there as well.

was a 2 bed 1 bath. Soon to be a 3 bed 2 bath. also just finishing up new beaut deck.

Planning on selling in the next 2 years, then finding another renovators delight in marrickville and adding a 2nd floor and repeating process. hard work doing/organising it yourself but the rewards are there.

 

[sash]

Good luck getting 1.1 - 1.2m in 2 years.

You will get that now....but remember people will pay a mortage of 55k now...but in 2 years if rates head to 7.5%.....they will pay 85k...capiche?

3 great suburbs that everyone forgets.

Bought my ppor in ARNCLIFFE 2010 a week or two after the last interest rate hike.. (huh wots an interest rate hike.. everyone has forgotten them lol) Just luck in hindsight. we were just buying our 1st family home.

bought $595, now im guess $1.1 - $1.2 easy.

had a huge roof space so i did the owner builder thing and now have a 2 storey semi.. the roof space isnt the normal style, its massive. about to put a bathroom up there as well.

was a 2 bed 1 bath. Soon to be a 3 bed 2 bath. also just finishing up new beaut deck.

Planning on selling in the next 2 years, then finding another renovators delight in marrickville and adding a 2nd floor and repeating process. hard work doing/organising it yourself but the rewards are there.