Penrith - what's happening?

[MsAli]

Werrington seems undervalued, when compared to Penrith and Kingswood.

The premise is, Werrington would see shift as Penrith and Kingswood become unaffordable. Penrith seems to have better demographics than 2770, and hence higher prices and might be getting difficult to get high rental yields in the area.

Anybody with IP(s) in the area or any thoughts on the area?

 

[DaveM]

Depends on what part of werrington you are talking about. The eastern part is not as desirable as the western part (ie werrington county through cambridge park/gardens) and has some active housing commission.

The local pub the werrington hotel (nickamed the Derro) isnt called that for nothing.

 

[MsAli]

Depends on what part of werrington you are talking about. The eastern part is not as desirable as the western part (ie werrington county through cambridge park/gardens) and has some active housing commission.

The local pub the werrington hotel (nickamed the Derro) isnt called that for nothing.

Cheers. What does Derro mean?

 

[DaveM]

Aussie slang for idiot/moron/bogan

 

[beachgurl]

Ah the good ol Derro. I spent many a Saturday night there many years ago when my friend lived up the road. Met some very interesting creatures there. Generally the closer the station the less desirable.

 

[Edmond Dantes]

Ah the good ol Derro.

Is this the Colonial hotel?

 

[jamesparnwell]

I'm a mortgage broker and have had 5 clients buy Ip's in the new development in Jordan Springs, all of them yielding about 6% and cash flow positive. I wrote about the case studies in my blog, http://investmentproperty-howto.com.au/jordan-springs-case-studies/ if that is helpful?

Here is a market overview as well http://investmentproperty-howto.com.au/jordan-springs-market-overview/

 

[prad_n]

Ah the good ol Derro. I spent many a Saturday night there many years ago when my friend lived up the road. Met some very interesting creatures there. Generally the closer the station the less desirable.

So you guys wouldn't suggest close to the station ? I am currently looking at a property on Walker St and considering it, what are you thoughts on Walker St ? is it close to the housing commission etc ?

Also what streets would you consider the good side of Werrington ?

 

[beachgurl]

Try not to overthink it too much. The best investors buy somewhere that makes sense to them, not because they'd want to live there themselves. I own a number of ex housing commission properties in suburbs I'd definitely never want to live. But it doesn't mean they are bad investments. Spread your risk a bit and it may be worth buying something near the station if the numbers make sense to you. Just make sure you have adequate landlords insurance. there is a small block of townhouses very close to the station that used to have great yields (I haven't looked around there for a while) but the tenants are generally also very colourful.

I haven't been out there a while so can't help you with the housing commission streets. Generally they have a certain look about them, it won't take you long to work them out if you take a drive out there.

 

[prad_n]

Going for a drive tomorrow morning. Should be fun !

 

[MTR]

Hiya

Terri Sheer will cover unapproved dual occupancy; BUT you pay 2 lots of insurance

So does GIO.

 

[MTR]

Try not to overthink it too much. The best investors buy somewhere that makes sense to them, not because they'd want to live there themselves. I own a number of ex housing commission properties in suburbs I'd definitely never want to live. But it doesn't mean they are bad investments. Spread your risk a bit and it may be worth buying something near the station if the numbers make sense to you. Just make sure you have adequate landlords insurance. there is a small block of townhouses very close to the station that used to have great yields (I haven't looked around there for a while) but the tenants are generally also very colourful.

I haven't been out there a while so can't help you with the housing commission streets. Generally they have a certain look about them, it won't take you long to work them out if you take a drive out there.

Will have to agree with this one, some of the best results have been areas that are "on the nose" by locals, better still find State housing areas where they are rezoning, cheap to hold and build at rear.