Sydney Hypothetical

Conditions:

* You have $450k to spend.
* You and your partner are going to live in it for up to 6 months doing a reno, then rent it out indefinately (no eye to sell).
* Preferences are riding the wave of the next (seperate thread alert) of 30% gains in Sydney in the next 24 months.
* Would prefer townhouse/small block, to large block/house.
* Closer to CBD the better.

Questions:

* Where would you buy?
* 3 Year CG estimate for type of property/area combo?
* Rental returns?

I think we are all sitting on a gold mine in this segment of Sydney in the next 24 months. It just so happens that I have just moved to Sydney and ready to really dig my teeth into a nice place. I invite you all to open up a nice discussion in this price range, with the reno/CG then hold route of investment in mind. Lets way up small place/block closer to CBD, vs further out with good transport possibilities and larger block/bigger place.

My Research:

* Zetland/Beaconsfield: transition to higher density, maybe stretch to 2 bedroom single story townhouse in (original condition), with good CG potential - maybe a little out of %% range.
* Campsie?
* 3-4 Bedroom west of Parramatta?

??????
 
Thanks Prop.

Have you had much luck working for clients in picking up this type of property? Assuming in current climate they would only be able to be picked up in a competitive auction setting :-(
 
Prop purchased for me last week in inner west - a smaller 74m2 2BR unit with courtyard. Art Deco so no parking but a good price we thought - $428K. My budget was $550K but we saw this and it ticked the boxes.

For $450K I would expect you could find something a bit larger inner west as Prop says above.
 
Thanks Prop.

Have you had much luck working for clients in picking up this type of property? Assuming in current climate they would only be able to be picked up in a competitive auction setting :-(

I have come across a couple and in both cases they are not going to auction, They are just for private treaty sale. The ones normally taken to auction are those that have had renos and look a treat. There is a smaller market for older, bigger, in need of a reno.
 
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