WM, You are reading my mind, I was going to post the same, entry level too high, if plans are not to develop straight away then the holding costs will kill the investor.
There are lower entry levels, less risk and then if you have to hold wont be such a biggy.
The other choice, Mt Lawley t/house, once again this is big $ for a townhouse, what's the rent? is it 2 or 3 bedroom, unless you can add value some way or the rent is almost covering holding costs I would not be too keen on this option?? What about a semi detached in need of a reno, very cute, very popular, perhaps if you could stretch your budget a little this would be ideal, renovate and flip it, bring some money back to the table and do it again.
BTW, townhouses on North Street are not ideal, traffic is bumper to bumper in the morning just in case you were considering this.
MTR
There are lower entry levels, less risk and then if you have to hold wont be such a biggy.
The other choice, Mt Lawley t/house, once again this is big $ for a townhouse, what's the rent? is it 2 or 3 bedroom, unless you can add value some way or the rent is almost covering holding costs I would not be too keen on this option?? What about a semi detached in need of a reno, very cute, very popular, perhaps if you could stretch your budget a little this would be ideal, renovate and flip it, bring some money back to the table and do it again.
BTW, townhouses on North Street are not ideal, traffic is bumper to bumper in the morning just in case you were considering this.
MTR
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