Thoughts on Investment Property in Ryde NSW

[Phantom_X]

Hi guys,

We bought our first investment property in Brisbane earlier this year and are now on the look out for our second.

We live in Sydney and I'd like to buy an investment property in Sydney to spread my risk a bit if I can find good value here.

I've been looking at 2 bedroom units in and around Ryde. Max budget is $500k. Plan to hold onto it long term. Any thoughts on this area, particularly around Top Ryde? I'm also considering West Ryde and Meadowbank.

Are there any other places I should be considering around Sydney or have I missed the boat on this cycle? Is Parramatta worth a look or way over supplied for the unit market?

I would consider other areas again but keen to hear anyone else's thoughts or experiences.

Many thanks,

Neal

 

[Phantom_X]

Anyone have any thoughts on Ryde at all? Also considering West Ryde and Meadowbank. Going to check out a couple of properties this weekend.

 

[spludgey]

If you want to build a big property portfolio quickly (10 years or less) then negatively geared properties might not be your best bet.
If you've got your mind made up and are happy with it, that's fine. Otherwise do some reading on here and get a Jan Somers book and see whether you might be better off getting a positively geared property.

 

[see_change]

Sydney's already moved significantly .

We've lived in Concord west and I quite like the RHodes , meadowbank area . It's very central.

If I was buying now I'd buy in that northern Suburb of Sydney You've already bought in . We bought four there , mid last year and our next buys won't be in Sydney .

Cliff

 

[PHP]

If you want to build a big property portfolio quickly (10 years or less) then negatively geared properties might not be your best bet.
If you've got your mind made up and are happy with it, that's fine. Otherwise do some reading on here and get a Jan Somers book and see whether you might be better off getting a positively geared property.

Hey Spludgey,

Is Building Wealth In Changing Times the updated version of More Wealth From Residential Property?

 

[Phantom_X]

Thanks guys. I'm certainly not set on those suburbs specifically and am open to advice. It would be nice to have something in Sydney but if I'm too late I'd still consider elsewhere.

Would a second in Brisbane be a good idea? I was thinking spreading my risk in a different area might be wise.

Also, any Jan Somers books in particular you can recommend?

If I was to buy a positively geared property would I be doing it potentially at the risk of lower capital gain or is this just a myth? I need to learn more about positively geared properties to see if they are right for my long term goals I guess.

 

[see_change]

Our first 7 IP's were in Logan , Next seven in Rocky , then four in Hobart ....

Generally when we buy , we buy more than one in the area. Less areas to research , If you've bought in an area ( mention it to agents ) they will take you more seriously and more likely to tell you about things coming up .

Easier to keep an eye on what's going on and you'll get a discount from the pm's

Cliff

 

[Gockie]

I agree. I think Brisbane might have more upside than Sydney. I have a unit in West Ryde and we've already had huge growth the last 12 months. Properties that previously sold for maybe mid 4's last year jumped to mid 5's this year.

If you are looking, this just came on the market and is in the part of Parramatta I would buy. (I just bought elsewhere a week ago so I'm not in the market to buy right now). I would have possibly bought in that area but properties come onto the market very rarely from that little part of Parramatta (bordered by Wilde Ave, Victoria Rd, and Macarthur Street). I was looking for months and nothing came up. For the listed price, it's a buy. Over 500k, not so much a bargain. I really like that area of Parramatta, it's really quiet, all residential and fairly young apartment blocks, but no high rise blocks, but you are close to the river, easy walk to station, easy walk to river cat, close to parks, close to Parramatta CBD. Parramatta station is really great as you get a lot of express trains.

http://www.realestate.com.au/property-unit-nsw-parramatta-118289767?rsf=emailalert-propdetails

Good luck!