Opinions on lethbridge park...good investment???
- Thread starter Hala
- Start date
Spend some time reading recent posts on mt Druitt . Every thing you're asking has been said in recent months .
Cliff
Cliff
What's your full opinion and the reasons behind it?
Hala, I am just giving you my opinion into this matter.
Lonewolf maybe I'm getting a bit sensitive regarding your responses. I've just joined this blog... And am learning to navigate around it and ask for people's opinions. I just feel that you are rolling your eyes every time you see a thread of mine being posted lol sorry I am really just learning. I am an investor looking to mingle with others that have the same interests where we can offer some advice to each other, that is all!
Yes mate, I am just giving you suggestions on how to get most out of this forum. Don't take it so personal.
By doing some research and asking something with more context, you will often get better responses.
Thank you will have a read!
Thanks for your input will take it on board!
Hala,
Going on some previous posts I see you are thinking of flipping property,this area has had substantial growth over the last 12 months and others like myself are not purchasing here at the moment as the area is selling at the top of the market now and returns not as good as before,to have your strategy atm I feel would be hard in this area as cost of buying in to renovate then sell is to high.
I have 2 properties in 2770 and held them for almost 9 years in this time growth was very little but in the last 12 months I have seen 60% to 70% capital growth so hope this gives you a bit of insight to the area and how it is preforming at the moment but read the threads about the area and do your DD .
Cheers,
Macca446
Going on some previous posts I see you are thinking of flipping property,this area has had substantial growth over the last 12 months and others like myself are not purchasing here at the moment as the area is selling at the top of the market now and returns not as good as before,to have your strategy atm I feel would be hard in this area as cost of buying in to renovate then sell is to high.
I have 2 properties in 2770 and held them for almost 9 years in this time growth was very little but in the last 12 months I have seen 60% to 70% capital growth so hope this gives you a bit of insight to the area and how it is preforming at the moment but read the threads about the area and do your DD .
Cheers,
Macca446
Thanks for your feedback. I recently purchased a property in woodbine campbeltown and am putting a granny flat in the back for positive cash flow. I have two other investments also that are neutral. I am looking for a new project and am confused as to where to look as all the suburbs surrounding sydney are so overpriced. I am enroling in the cherie barber course next month to learn how to renovate effectively and flip property, as I currently just want to buy renovate and sell to get some cash flow. The reason why I asked about lethbridge park is because I think it has a low entry point, which is affordable and maybe I could renovate and just draw the equity after refinancing. I ideally want to buy and renovate and sell in areas like baulkham hills, but they are so expensive at the moment.
It really is about constant research looking and be quick atm,I picked up one on the central coast by accident last sept and did a reno but decided to keep it,it is worth about 40k on top of what it owes me but all said and done once everyone takes a bit not really left with heaps so will sell maybe a few years now.
According to Domain
Lethbridge Park House: Median price $277,000, Annual capital growth 2.39 %, Number of sales 71, Weekly median advertised rent $320
DSR Score for property investment : GOOD (U), GOOD (H)
Quarterly growth 8.63 %
12-month growth 17.87 %
3-year growth 20.45 %
5-year growth 34.47 %
I will offer you $550k and not a cent more.
Re 2770/tregear,. prices have gotten nuts.... close to 100k increase in 2 years on some properties closer to the mt druitt shops
So have Letho's
I reckon they will hit 400K before long, coz you still get bick blocks of land out there. Plus rentals returns are OK at the moment.
