I live in Sydney, I have up to $250K for an IP. Where to invest? I'm thinking North Parra, Parra or Westmead. Any thoughts?
Where to invest
- Thread starter Spotted dog
- Start date
You haven't said whether you want to buy a unit, townhouse, or house.
Search
Here is something you can do, go to realestate.com.au and do a search that would include all the suburbs you mention and select up to $250K and see what comes up. Then make a few phone calls and find out the following about the properties:
- When it was built (date), for depreciation.
- How much rent are those properties achieving, for cash flow (how much is going to cost you to hold the investment)
- Why is the owner selling, for any possible negotiation angle.
- Ask for council rates/strata fees, for the additional costs of owning any property.
Narrow down the options and work from there. If not happy, search other areas in the same way and repeat process. This will cost you nothing and will get you closer to your property for sure.
Happy Investing
Jon Salvador
Finance Broker
Buyers Agent
Property Investor
http://web.mac.com/patty_jon/iWeb/HeadingHome/Home.html
Here is something you can do, go to realestate.com.au and do a search that would include all the suburbs you mention and select up to $250K and see what comes up. Then make a few phone calls and find out the following about the properties:
- When it was built (date), for depreciation.
- How much rent are those properties achieving, for cash flow (how much is going to cost you to hold the investment)
- Why is the owner selling, for any possible negotiation angle.
- Ask for council rates/strata fees, for the additional costs of owning any property.
Narrow down the options and work from there. If not happy, search other areas in the same way and repeat process. This will cost you nothing and will get you closer to your property for sure.
Happy Investing
Jon Salvador
Finance Broker
Buyers Agent
Property Investor
http://web.mac.com/patty_jon/iWeb/HeadingHome/Home.html
Doh, silly me. Can you pick the novice investor? We're planning to get a unit. I have a fair idea where I can afford (using all available free websites like domain, etc.) The main reason for posting the question is I'm uncertain if parra and surrounds is the best one to choose from in my price range in the Sydney metro, with regard to rental return, the market in general, tenants, capital gain and the like. Cheers.
Thinking long term, this is (hopefully) going to be the first of many. Buy in the area you think is the best, then do more research and maybe you decide on another area for the next one.
Alex
