Penrith/Cranebrook/Western Sydney

[crunchy]

I've been looking at IP's and have gradually moved closer to home.

Looking in the Penrith/Cranebrook area and have a found a couple of places with great rental returns and at a good price.

Just wondering if anyone has experience buying in the cranebrook area/cambridge gardens/werrington area or should I move towards St Mary's/Oxley park area.

Cranebrook/Cambridge and Werrington all look like they've turned a corner but I was hoping for peoples thoughts.

I like the idea of having a IP close rather than interstate.

Any one got any good property inspectors or property managers they would recommend?

Cheers

Crunchy

 

[thepeoplesagent]

Not looking in the Hawkesbury anymore Cunch? I guess I have to take you off my email list

There is no magic suburb. Find something with a good net return and low maintenance. Use a reputable agent to find you a good tenant.

I'm thinking anything which returns 6% + is pretty good in the wild west.

 

[First timer]

I'm interested in the same question myself, I have been eyeing off 3 br older style houses around Penrith, Kingswood, Cambridge Gardens/Park & Werrington as they're within my low budget with scope for simple renovations. There are certainly plenty available under $350K.
I really don't know about the area quality and tenant quality and vacancy rates and those sorts of things though so hesitant- lots more research to do. I have come to the realisation that anywhere in greater sydney and surrounds within my budget for the first property are low socio economic areas, so thats going to part and parcel of the investment.

The rental yields are certainly tempting.

It would be nice to be near the selective highschool.... hopefully attract some committed tenants.

 

[rowanparker]

Not looking in the Hawkesbury anymore Cunch? I guess I have to take you off my email list

I am though! Feel free to add me

 

[Moorie]

My old man bought a 4br house in north cranebrook apr 2011 (the good side) for 344k, rented out from day dot $390 a week. As far as rental demand he told me both times they were looking for a tenant the RA held a open house and has never been vacant for more than 2 weeks.

I would suggest you have a look Glenmore park