WHERE TO SPEND $650k

I would like your opinions on where I should spend $650k on an IP. I prefer houses not body corp situations but I have had a lot of advice that units are best. My preference is for CG in long term and would like 5% yeild so holding costs are not too difficult.

Any suggestions appreciated.

thanks
Lucky :D
 
For around 400k you could get Seaford (Victoria), west of the freeway (close to the bay)

I also like Ballarat and Bunbry. Could get both for $650k
 
I would like your opinions on where I should spend $650k on an IP. I prefer houses not body corp situations but I have had a lot of advice that units are best. My preference is for CG in long term and would like 5% yeild so holding costs are not too difficult.

Any suggestions appreciated.

thanks
Lucky :D

You can buy my place for 650K.....:D

Regrow
 
Thanks Skater

I like the idea of a block of units. Any ideas where I could purchase for that price with good prospects, ie CG, yeild, vacancy rates. I prefer major cities to regional areas.
 
Thanks Skater

I like the idea of a block of units. Any ideas where I could purchase for that price with good prospects, ie CG, yeild, vacancy rates. I prefer major cities to regional areas.

Ah not too sure, it was just me being silly!

As for City areas vs Regional, i agree, the amoun of demand seems to be lower as well.

It also depends if you want to be close or it doesn't matter. Because, not sure where you're located, but the cost will greatly depend on the location (duh) and location can also influece how many units are in the complex, city could be hundreds etc..
 
For $650K I'd buy a direct ocean front reserve property on the Central Coast which has 2 older homes on it - so two lots of rent that would get just under 5% rental yield but huge CG over time.
 
Cairns is not selling very well at the moment. The prices are a lot lower but then the vacancy rates are higher, which in turn has led to lower returns.

As those of us that invest in Cairns know, it will return but you don't know when.

If the dollar falls then the tourists will return and maybe Jetstar will reinstate the Japan route.

Chris
 
Come to Adelaide.

Could get yourself 4 units 20-25km from the CBD renting between $160-180pw, or get yourself 3 within 8-10km of CBD renting $180-210pw
 
The country is your oyster :D
Depending on what and where. Try to narrow it down a little here :)

Sydney has too many options to list, in both housing and units.
 
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