Is Campbelltown a good investment

[Paul 6310]

Hi,
I currently have one unit in Blacktown owing $230,000. Rented out for $380 and paying for itself.
Im currently looking for my second investment. i have been told campbelltown is a good spot as lots of growth has been forcast. I have found a 3 bed 2 bath unit for $329000 and rent for $400.
What im after is some advice on the area and if its a good buy? Also what other western suburbs people have invested in and are getting good returns
Thanks guys

 

[ndpjai]

I dont mind investing in campbelltown, but still prefer liverpool, as this is much like a CBD after parramatta. Even, NSW master plan predicts liverpool as 3rd CBD. You will get the same rent and same buy in liverpool with atleast 10Kms earlier than campbelltown with all basic amenities and facilities

 

[BV]

You will get the same rent and same buy in liverpool with atleast 10Kms earlier than campbelltown with all basic amenities and facilities

Good idea but using this logic you could get a similar property in Lakemba with similar yields and a lot closer to the CBD

 

[BV]

I have found a 3 bed 2 bath unit for $329000 and rent for $400.
What im after is some advice on the area and if its a good buy? Also what other western suburbs people have invested in and are getting good returns
Thanks guys

Paul
$329K sounds like a lot for a unit.
Is it new off the plan?
For that amount of money I would get a house

 

[Piston Broke]

Is Campbelltown a good investment
Thanks guys

Did you want to buy all of Campbelltown or just a little bit?

I have found a 3 bed 2 bath unit for $329000 and rent for $400.

This really is'nt anywhere near the info required to make a decision on a property purchase.
I suggest you search the forum as there;s plenty of info around here.
Including this one http://www.somersoft.com/forums/showthread.php?t=52638

 

[skater]

Did you want to buy all of Campbelltown or just a little bit?

LOL! That was my immediate thought.

 

[Paul 6310]

Paul
$329K sounds like a lot for a unit.
Is it new off the plan?
For that amount of money I would get a house

Its for a unit. Had a look on RE.com and Liverpool has some pretty good buys. I have to purchase outside a 30km Radius of Garden Island due to work. (inside this i have to live in it.) Just trying to get my foot in the investment door and not sure what suburbs to look in. Im pretty happy with my Blacktown investment but dont want to purchase in the same suburb.

 

[BV]

I have to purchase outside a 30km Radius of Garden Island due to work

Paul
In that case there are plenty of options and you can also look up or down the coast as well.

As for finding a good buy you need to be looking all the time and to make offers. IMO now that the market has cooled off a bit is a good time to be looking for bargains.

Regarding growth, I'm guessing that property isn't going to have spectacular gains until interest rates come down so it could be a few years away but western suburbs should have continued growth in line with demand and inflation.

We should not forget that Sydney is growing, there is high demand for rentals and housing on the outskirts is still affordable so there is room for capital gains.

 

[Jacque]

Hi,
I currently have one unit in Blacktown owing $230,000. Rented out for $380 and paying for itself.
Im currently looking for my second investment. i have been told campbelltown is a good spot as lots of growth has been forcast. I have found a 3 bed 2 bath unit for $329000 and rent for $400.
What im after is some advice on the area and if its a good buy? Also what other western suburbs people have invested in and are getting good returns
Thanks guys

Hi Paul

30km+ outside of the cbd (btw don't you guys just have the greatest view of Sydney's fireworks on NYE?!! ) you'll find a plethora of options for your $330K budget. Houses included in the Blacktown area, though I can understand if you want to diversify a little and buy elsewhere. For good value units, consider the areas around Parra eg: Wentworthville, Westmead even Merrylands etc. Easily rentable and most close to train lines. If you like a reno challenge and prefer a house consider Lalor Park, Marayong, older side of Quakers Hill. Easy enough to add value and increase yield here as well. Best of luck in your search.

 

[ericproperty]

Hi Jacque

it is very valuable opinion. I have a IP in Marayong, bought in 2010 for $295,000, now it worths well baove $330,000. I am now looking at Lalor Park area. Had talked to a few RE agents in Lalor Park, I have the idea that Lalor Park is pretty undervalued area. Housing commission auction is a good way to go.

 

[kvellimalai]

about housing commission auction

Hi
I don't see any housing commission auction on this area. All i could see is only on darruk, Blackett area...

Any good place to search for the housing commission auction ....

Regards
Velli

 

[Paul 6310]

Paul
In that case there are plenty of options and you can also look up or down the coast as well.

As for finding a good buy you need to be looking all the time and to make offers. IMO now that the market has cooled off a bit is a good time to be looking for bargains.

Thanks everyone for your advice. I am thinking about purchasing off the plan in Wollongong. cant seem to find any bad advice for the area so that is always a good start.

Has anyone ever leased back to the developer as a show home? I have been offered this for two years once my unit is complete and not sure if its worth locking this in or take my chance with getting more rent from a tenant? Any advice would be much appreciated

 

[alexlee]

Thanks everyone for your advice. I am thinking about purchasing off the plan in Wollongong. cant seem to find any bad advice for the area so that is always a good start.

What sort of opinions have you received on off the plan, though?

 

[Paul 6310]

What sort of opinions have you received on off the plan, though?

Not many please any information is much appreciated.

 

[Piston Broke]

Thanks everyone for your advice. I am thinking about purchasing off the plan in Wollongong. cant seem to find any bad advice for the area so that is always a good start.

I love your investment criteria and very much hope to find like minded astute investors for my future developments in the next few years.

 

[bojangles]

Yep

I love your investment criteria and very much hope to find like minded astute investors for my future developments in the next few years.

I think i might become a developer too ...