Hi all,
Long time reader coming back into the fray to post!
I'm looking for my first IP again. I sold my previous a couple of years back, got married and purchased my PPOR and paid down the debt.
What I would like to spend is 350-400k for a house, or 300k on a unit. I'd like to stick to Sydney. I would like to buy and hold for 5 years plus. I've been looking daily for 4-5 months continuously now, the more I look, the more I get confused and feel like I've missed the boat! I'd like to narrow down my target area and need assistance with it.
My thoughts have been the Bankstown region for a unit (Lakemba, Bankstown, Wiley Park, Punchbowl) or a house (Doonside area or Campbelltown region) I've also looked at the older style units in liverpool.
A couple of questions:
The units mentioned above in the Bankstown area have jumped from 240-250k to 300+ in a matter of a year seemingly. is there any capital growth left in them? They rent well, are located on train lines and close proximity to the city but there are perceived stigmas associated with them. Will this hinder future CG? are they about to taper off after recent growth?
What areas would be your pick from the Doonside/Campbelltown region for CG? Ive also looked at Ambarvale, Minto, Ingleburn, Leumeah, Bradbury.
I'm leaning towards a house with at least duplex potential for a resale later on, or a brick house with renovation potential later on for a purchaser. Dont really want to buy a Fibro or cladded home without at least dual occ development potential.
Interested to hear everyones thoughts.
Thanks
C
Long time reader coming back into the fray to post!
I'm looking for my first IP again. I sold my previous a couple of years back, got married and purchased my PPOR and paid down the debt.
What I would like to spend is 350-400k for a house, or 300k on a unit. I'd like to stick to Sydney. I would like to buy and hold for 5 years plus. I've been looking daily for 4-5 months continuously now, the more I look, the more I get confused and feel like I've missed the boat! I'd like to narrow down my target area and need assistance with it.
My thoughts have been the Bankstown region for a unit (Lakemba, Bankstown, Wiley Park, Punchbowl) or a house (Doonside area or Campbelltown region) I've also looked at the older style units in liverpool.
A couple of questions:
The units mentioned above in the Bankstown area have jumped from 240-250k to 300+ in a matter of a year seemingly. is there any capital growth left in them? They rent well, are located on train lines and close proximity to the city but there are perceived stigmas associated with them. Will this hinder future CG? are they about to taper off after recent growth?
What areas would be your pick from the Doonside/Campbelltown region for CG? Ive also looked at Ambarvale, Minto, Ingleburn, Leumeah, Bradbury.
I'm leaning towards a house with at least duplex potential for a resale later on, or a brick house with renovation potential later on for a purchaser. Dont really want to buy a Fibro or cladded home without at least dual occ development potential.
Interested to hear everyones thoughts.
Thanks
C
