Hi all
I currently have 2 IP's in Sydney west, one apartment and one large block of land with a house on it. My initial plan was to knock down the house, subdivide and build two houses.
Im assessing my options at the moment, and I am considering selling the two IPs and buying an apartment in the city instead. IMHO, city apts seem to hold their value quite well and you also get decent rental returns (apart from strata fees). I'd be looking for an apartment in around the 650-750k mark after selling my other 2.
Just wanted to get peoples opinion on this. Is this a wise idea? I dont feel I am getting (or will be getting) decent capital returns on my current 2 IP's. On top of that, I dont want to commit myself into too much debt and buy 650-750k apartment on top of my existing loans.
Thanks in advanced!! =)
I currently have 2 IP's in Sydney west, one apartment and one large block of land with a house on it. My initial plan was to knock down the house, subdivide and build two houses.
Im assessing my options at the moment, and I am considering selling the two IPs and buying an apartment in the city instead. IMHO, city apts seem to hold their value quite well and you also get decent rental returns (apart from strata fees). I'd be looking for an apartment in around the 650-750k mark after selling my other 2.
Just wanted to get peoples opinion on this. Is this a wise idea? I dont feel I am getting (or will be getting) decent capital returns on my current 2 IP's. On top of that, I dont want to commit myself into too much debt and buy 650-750k apartment on top of my existing loans.
Thanks in advanced!! =)