Hello
I am looking for my first IP, at first I was thinking about getting a one bed apartment with car space in CBD, which will cost around $550K. As the weekly rent will be good, though the strata is a concern, also I am not sure how good the capital growth will be in long term. I had a talk with friends earlier, I decided to change my approach, insteasd of having a big mortgage, I could invest in western sydney, i am thinking about st marys, penrith, blacktown. I will be able to get a decent house in that area for around $350K or less, then I can build a granny flat....i would have a much managable mortgage. I probably will hold the IP for a few years, build up equity, and move on to the next IP.
Can anyone please advise if this is a better/manageable approach? If so, would those 3 subs are better valued? i read somewhere better tenants in st marys than penrith??
Thanks!
I am looking for my first IP, at first I was thinking about getting a one bed apartment with car space in CBD, which will cost around $550K. As the weekly rent will be good, though the strata is a concern, also I am not sure how good the capital growth will be in long term. I had a talk with friends earlier, I decided to change my approach, insteasd of having a big mortgage, I could invest in western sydney, i am thinking about st marys, penrith, blacktown. I will be able to get a decent house in that area for around $350K or less, then I can build a granny flat....i would have a much managable mortgage. I probably will hold the IP for a few years, build up equity, and move on to the next IP.
Can anyone please advise if this is a better/manageable approach? If so, would those 3 subs are better valued? i read somewhere better tenants in st marys than penrith??
Thanks!