Suburbs in Western Sydney for IP - Listed

[jaspn]

G'day,

I'm in the process of compiling a list of Western Sydney suburbs for where I'm focusing my efforts on buying my first IP. My purchase criteria, listed below, restricts where I can buy, but at the same time keeps the task at hand manageable. Criteria as follows:

- Sub $250k price bracket (2br units)
- Must have rail and motorway close by
- Potential for capital growth

A combination of research and conversations so far has concluded these are good places for investors to buy. Thoughts on this list? Have I missed anything out? (List is in general order of preference)

- Mount Druitt
- Blacktown (Probably out of my price range now)
- Penrith
- St Marys (A little rough around the edges)
- Campbelltown (Getting a bit far away from the CBD, but still would purchase here)
- Minto (As above, but quite rough around the edges)

 

[see_change]

St Marys rough around the edges ....

Put it in a ring with Mt Druitt and it would hide in the corner ....

Cliff

 

[Prop_Perspectiv]

St Marys rough around the edges ....

Put it in a ring with Mt Druitt and it would hide in the corner ....

Cliff

Hahaha. Yep.

I would focus on Blacktown with that sort of budget. St Marys would be above Mt Druitt for me as well.

 

[jaspn]

I would focus on Blacktown with that sort of budget.

Serious, Blacktown? I can't seem to find any 2 bedders on RE.com.au for under $250k there.

 

[JT7]

Serious, Blacktown? I can't seem to find any 2 bedders on RE.com.au for under $250k there.

Penrith LGA including Jamisontown.....?

 

[jaspn]

Penrith LGA including Jamisontown.....?

Yep, I had Penrith thanks. I haven't heard much on Jamisontown. It looks quite a distance away from the train line.

 

[devank]

I would add kingswood & warrington to the list. oh... don't forget Auburn.

 

[jaspn]

I would add kingswood & warrington to the list. oh... don't forget Auburn.

Kingswood and Werrington are probables. Let's discuss Auburn for a moment. Do you remember the TV series East West 101? That was mainly shot in Auburn. It doesn't paint a pretty picture of the place. However this is just tv drama, so I'd like to know anybody else's opinion on the area?

 

[Rolf Latham]

My purchase criteria, listed below, restricts where I can buy,

- Sub $250k price bracket

I will be the antagonist

why 250 k??

why not 200 or 350 ?


ta
rolf

 

[jaspn]

I will be the antagonist

why 250 k??

why not 200 or 350 ?

A couple of issues Rolf. We're stretching ourselves with income as it is. Originally we were thinking $140k - $200k in a regional area, but instead went out on a limb because Sydney is so much more attractive in terms of growth. Finance will probably also be an issue if we push any further. On top of this I just wouldn't feel comfortable spending any more on my first IP. Starting small

 

[JJBCA]

Just revisting the question of where to buy with a budget of $250 with the possibility of a positive cash flow. Blacktown is certainly off the charts but there are properties available in St Marys and Cambelltown around that budget . Any thoughts about how these arears will perform in terms of capital growth in coming years ?

 

[fokas]

.............

 

[mgs4]

I would add kingswood & warrington to the list. oh... don't forget Auburn.

Can you really get 2 bedroom in Auburn for $250k? What would that rent for?

 

[devank]

Can you really get 2 bedroom in Auburn for $250k? What would that rent for?

Probably 10 months ago.

 

[Scott No Mates]

Probably 10 months ago.

Just backdate the contract.