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I like the idea, but just watch the rental returns are pretty low in that region at present (I believe).
The new marina got signed off recently, so that might give the area a bit of a boost.
Also there are a lot of people doing the same thing, which may keep re-sale values low for a while (a lot of supply).
One day I wouldn't mind buying a large block down there for my PPOR. Not sure about the numbers for development, but it is certainly some of the cheapest costal real estate in Perth.
Blacky
You could use the new vehicle of GFs to manufacture increased yields if you want to get into the area now.
You could create a unique strategy if you want to hold.
Let me see
- buy a big block
- retain house
- build 70sqm 2 x 1 in rear garden
- wait for CG
- when the time is right demolish house and put 2 houses in it's spot retaining the GF in the rear.
It's a bit of an odd set up but you end up with a triplex and during the holding stage you have 2 incomes.
Love you thinking.
Might start looking a bit closer at Shoalwater
This warrants some serious thought, great way to boost earning power of property without outlaying too much.
What would a decent 2x1 cost I wonder?
80K for what? Where?
Any comments/thoughts on this one, its r40?
http://m.realestate.com.au/property-house-wa-shoalwater-113923523
Location is good. I wonder if you have that sort of money if you'd be better off purchasing closer to city for now like this? http://m.realestate.com.au/property-house-wa-bayswater-111827455
What does it rent for?
It is a nice location, rented currently for 350 but its acknowledged that's below market but a good long term tenant (hardly surprising at that rent).
What else I could with the money is a very good question, opportunity cost!
I'm looking at a townhouse in my lawley/nth Perth border for 700k rented for 600.
So what is the market rental?
Personally i would be buying near the city with that price range. But would also depend on the kind of development you plan on doing.
Cheers
It is a nice location, rented currently for 350 but its acknowledged that's below market but a good long term tenant (hardly surprising at that rent).
What else I could with the money is a very good question, opportunity cost!
I'm looking at a townhouse in my lawley/nth Perth border for 700k rented for 600.