Where/what would you buy with $50K

8

888Katone

Where or what would you buy with $50K.

Strategy is simple - to hold it for a very long time. To buy cheap and watch it really boom in value.

Would you buy masses of acres in a rural area ? or a normal sized block in a rural beach area...

REAL EXAMPLES;

Or a 650m2 block one road back from beach in a still under-developed beachside town ? i.e. Golden Beach

40acres of Industrial 3 zoned land in Bendigo - close to shops and schools.

A block in Loch Sport...

What is the smartest strategy of all ??? (cannot go over $50K)
 
I would buy my next door neighbour's house, fix it up with the change and sell it for $70k to someone from out of town. Lots of houses here for $~50k, wouldn't buy any to rent out though, although if you're willing to really screen the tenants you might get a nice single mum or old person and get maybe $70-80pw rent.

Or a cheapie in Peterborough (they are few and far between at that price though) and rent it out for $90 a week as long as you've got good insurance because your tenant WILL be unemployed and/or stoned.

However you can buy quite a bit of land for that price and hold it in a growing center, like Gladstone or Jamestown in SA, if you don't mind paying rates. There are some nice 1 acre blocks in Jamestown for $60k and still one or two normal size blocks left for $45-55k. Land in Gladstone is about $20k for an unserviced block. I tend not to look further than about 200km from home though so I can only comment on mid north SA and it is still quite cheap here, we're only just riding the boom up, not coming down just yet.

If I really did magically come up with $50k I wouldn't be buying a house with it, I'd be doing a serious reno to the IP rather than our current budget one and selling it off for a lot more. And THEN buying my neighbour's house :D

Sucks that you can't go over $50k. For $60-65k you can get some quite respectable houses, old shops, places that have potential etc. $50k gets you stuff all really.
 
888Katone said:
Where or what would you buy with $50K.

Strategy is simple - to hold it for a very long time. To buy cheap and watch it really boom in value.

Would you buy masses of acres in a rural area ? or a normal sized block in a rural beach area...

REAL EXAMPLES;

Or a 650m2 block one road back from beach in a still under-developed beachside town ? i.e. Golden Beach

40acres of Industrial 3 zoned land in Bendigo - close to shops and schools.

A block in Loch Sport...

What is the smartest strategy of all ??? (cannot go over $50K)
Click to expand...


plenty around,

http://www.realestate.com.au/cgi-bi...r=&cc=&c=76942260&s=nsw&snf=rbs&tm=1221551382
http://www.realestate.com.au/cgi-bi...r=&cc=&c=76942260&s=nsw&snf=rbs&tm=1221551382

or even better, something with income and generous tax breaks,

http://www.realestate.com.au/cgi-bi...r=&cc=&c=76942260&s=nsw&snf=rbs&tm=1221551382
 
Hi 888Katone,

I'm with peastman.

I'm not sure how far out of town "close to schools and shop" is, however that sounds compelling.

If you don't choose the industrial land (I'm assuming I read that correct - 40 acres of Ind 3 Z land for 50 K).....please PM me the details.
 
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