The rough suburb gamble Sydney

[Elliotte]

I'm loving reading about everybody's different ideas on where to buy and I saw in a few threads those chasing CG looking at today's rough suburbs and where they are going. I sometimes feel I'm a bit too conservative. In 2007 I bought a terrace in Marrickville as it was going up when I'd been thinking I should have done it earlier. Although I didn't get to keep it (nasty breakup and I lost out bigtime) my ex partner is probably enjoying the massive gains. We paid $500K for a 3 bed, 2 storey terrace near the cafe strip. At the time I was always joking about Wiley Park being the rough place to buy instead - Units were $150K I think at the time.

Anyway, what suburbs do you think are risky now might be worth the gamble for CG. I'm thinking Lakemba and Punchbowl,Greenacre and still Wiley Park...although have I already missed the boat with these? Or just for fun...did you pick a rough suburb in the past and have it pay off? Or did you pick wrongly and have the place shot up and turned into a meth lab?

 

[Shahin_Afarin]

Those areas are not rough its a massive misconception.

Regards

Shahin

 

[Elliotte]

Those areas are not rough its a massive misconception.

Regards

Shahin

That's what I mean about missing the boat - that they maybe aren't as rough now as they were once. So wondering what areas are actually rough but maybe shine up over time. Or is it a good thing that most people think they are rough so house prices are still low so they are still a good idea for CG.

 

[depreciator]

I had to go to Botany recently to pick something up. I had a drive around and liked it. Not sure what prices are like and how the port expansion will affect it, but there is some good older housing stock, plenty of activily on the main street, and it's well located - not under the landing flight path, either.
Some good spots in Turrella, too. Away from the units. Again, I don't know what the prices are like but it doesn't get talked about much.

 

[Elliotte]

I had to go to Botany recently to pick something up. I had a drive around and liked it. Not sure what prices are like and how the port expansion will affect it, but there is some good older housing stock, plenty of activily on the main street, and it's well located - not under the landing flight path, either.
Some good spots in Turrella, too. Away from the units. Again, I don't know what the prices are like but it doesn't get talked about much.

Actually I was just doing a drive around that area yesterday. With the new Woolies opened up in Arncliffe I was thinking around the back there would have to be some good spots in Turrella and around. The stuff I've seen so far has been too main road for me. Botany seems to be a bit stuck with public transport from what I know but is another one I've done a quick look around. I guess I'm really looking say within 5kms or so of either my Campsie boarding house or my St Peters one as a back up plan if I can't afford Earlwood, but I want to stay and make max dollars hands on managing the houses where could I move to as a fallback plan that might show CG and be liveable If I had to stop using it as an IP.

Obviously I'm still playing with ideas of what to do with my life - buy cheapy IP in mountains or Tassie. Buy or lease more boarding houses, or buy something that could possibly be PPOR if I stay put. I think real estate looking and thinking is my new hobby. Or obsession. At some point I will have to decide. Waiting to see if I can lock in all the cashflow first of the existing houses.

 

[Luckyrooster]

Marrickville is a still a winner on the CG front in my books, but it's just bloody hard getting a terrace between 600 - 700k anymore. Still, they are large blocks usually and if you buy near the train station, it's a sound investment. Probably not as sought after as Newtown or Enmore, but coming along finely. Price is key.