It's been 2 years since I bought my first IP and my wife is pestering me to buy another. One idea we are toying with is to go with a house and land package in Armadale (WA) where the build price is around $300,000 and includes a furniture package. Location to transport etc seems ok and 4x2 rent for $320-$350. Agents say there is reasonable demand.
Sooo, what are your thoughts on Armadale as an IP spot?
I haven't worked out the investment holding costs yet...
My current strategy is to keep risks low. Minimise holding costs, don't worry about CG too much, only buy a small number, pay them off slowly (did I hear a gasp?), sell in 15 years or so. More like a forced savings plan?
Ed
Sooo, what are your thoughts on Armadale as an IP spot?
I haven't worked out the investment holding costs yet...
My current strategy is to keep risks low. Minimise holding costs, don't worry about CG too much, only buy a small number, pay them off slowly (did I hear a gasp?), sell in 15 years or so. More like a forced savings plan?
Ed