What would you do with $600k budget?

[tess85]

Hubby and I can spend up to $600k on IP #1, would be curious to see where SS'ers would buy.

Have contemplated Brisbane & Adelaide, but have mainly focused on Sydney (where I live). Sadly $600k doesn't buy much anymore in Sydney!

Would love to know where you'd buy an IP if you had a $600k budget

 

[Propertunity]

Would love to know where you'd buy an IP if you had a $600k budget

2 x $300K IPs in Sydney or beachside Terrigal / Copacabana

 

[tess85]

You made an astute observation as usual, we were just wondering whether to split the budget up for 2 IPs or not.

Is it possible to fall in love with a place based on the name? because I've always thought copacabana was the coolest named suburb

 

[HappyCamper]

I'm looking around Redfern / Darlington / Chippendale / Ultimo. Some 2 bedroom terraces are around your budget.

 

[grossreal]

hi
funny question it seems a bit like saying I have 300.00 and what cloths should I buy
without knowing the following
where you are going
what cloths you like.
what the weather will be like.
and whats the function.
asking what to invest in is the same thing.
do you have smsf how are you going to buy the assett.
and whats your plan.
these are the main things that we need to know before I can say where to invest
if you want to invest airlie beach is a good place to start

 

[RumpledElf]

3 $200k places .... or 4 ... er ... that's beyond my mental arithmetic

$600k is considerably more than I'd need to set me up for life.

 

[BayView]

Hubby and I can spend up to $600k on IP #1, would be curious to see where SS'ers would buy.

Have contemplated Brisbane & Adelaide, but have mainly focused on Sydney (where I live). Sadly $600k doesn't buy much anymore in Sydney!

Would love to know where you'd buy an IP if you had a $600k budget

$600k on one IP is tough to get anything near to cashflow neutral or pos.

Better off to spread it over 2 $300k properties as was mentioned.

Better rent returns usually, better spread of risk against vacancy, and a bigger pool of renters for less vacancy anyway.

 

[twobobsworth]

$300-$400K in one, park the remainder in an offset for 12 months, then buy another.

 

[tess85]

Thanks all for the responses. i completely agree that spending $600k in Sydney doesn't come anywhere near to cashflow neutral...

I am most likely going to do what 2bobsworth said - spend about $350k on 1 IP and then buy another 1 yr later. I'm all for time in the market, not timing the market, which is why I want to buy an IP every year, which means I'd better not spend all my deposit at once on a $600k IP.

Still... have been looking at a more expensive IP near a beach (not in Sydney, but either 1.5 hr north or 1.5 hr south) and have been very tempted by the thought of buying one for a future holiday house while I can still afford it...

Thanks all!