Where would you park 200K?
- Thread starter Newbie73
- Start date
If I was living in the ACT, I definitely would not be looking interstate. The logistics to organise and monitor the renovation work will be challenging...
BTW, what sort of answer were you hoping for? You are going to get a myriad of suburbs in these responses.
Minor Renno
Which is why I said minor renno. I would not consider a big renno for the same reasons you mentioned.
I am not hoping for any particular answer. I am simply asking an opinon of those who post here. The vast majority of those posters have more experience in investing in porperty than me so I value their opinions and appreciate that they take the time to share them.
Which is why I said minor renno. I would not consider a big renno for the same reasons you mentioned.
I am not hoping for any particular answer. I am simply asking an opinon of those who post here. The vast majority of those posters have more experience in investing in porperty than me so I value their opinions and appreciate that they take the time to share them.
Newbie mate,
I live in Sydney and do all my own reno's so for convenience I would probably look a bit closer but if I was living in ACT I would seriously consider Queanbeyan.
There is high demand for rentals in Canberra and Queanbeyan is well positioned.
As alternative areas within a reasonable driving distance from ACT I would probably look for suburbs along the South NSW coast, around Bateman's bay, Nowra,Woolongong (but not in the middle of nowhere.) Returns in this region are not great and prices along the coast have decreased
but will recover when confidence returns to the property market.
If I was looking for better yields, bigger tenant pool and didn't mind the 3 hour drive to Sydney I would consider suburbs close to Liverpool in South Western Sydney.
SW Sydney is not a bad area to invest in. The region had a nice price correction in recent times (mostly due to dodgy lending and high interest rates) so prices dropped and rents have come up due to the rental shortage so the yields have improved.
As a result prices have now started to move upwards again.
Liverpool in the past seemed untidy but in recent times it had a facelift and being in Sydney you won't have shortage of tenants.
Are you thinking of getting a loan? There is talk about interest rates going up but I am not so sure that they have much room to move. I am thinking that the US will lower their int. rates to combat the recession that's coming and we might have to follow.
Cheers
Toowoomba 
That was the idea
Search and Read the two threads on Melton & Elizabeth (Adelaide) in SS forum for all the information, .... all will be revealed, you just have to look.
Plus you could always take the suggested suburbs and do your own research like most of us have had to do.
Martin
Well
That's your opinon Martin and you are entitled to it.
As I have already said I am not really even in the market for an IP right now. What I am doing is learning a lot about the thought processes of those who are more experienced than me from reading about what they do and how they do it. And as I have already said I really appreciate all of their responses.
Thankfully for us newbies people such as yourself are in the minority here.
That's your opinon Martin and you are entitled to it.
As I have already said I am not really even in the market for an IP right now. What I am doing is learning a lot about the thought processes of those who are more experienced than me from reading about what they do and how they do it. And as I have already said I really appreciate all of their responses.
Thankfully for us newbies people such as yourself are in the minority here.
Uh, given that this mainly a property forum, and a property investment forum at that, what do you plan to learn from our thought processes given that you're not in the market for an IP? I mean, I'm usually happy to give ideas if people ask where would be a good area to buy in, but if you're not in the market for an IP, any info we suggest would be kinda useless to you, no?
Alex
Newbie,
Wow, ... not a happy camper, ..... You judge me, but you know nothing about me. What you have to understand is that many new potential investors come into the forum and want instant answers on where the best opportunities are without doing the legwork themselves. Part of the education is doing research on areas and then bringing it to the forum for discussion.
I don't see why myself and others who put in the hard work should just hand the info over to people who can't be bothered. If you don't know where to research for information regarding a location then ask, ... many here including myself willing to help.
I thought my response to your initial post was fine, ... you asked where I would park my money on IP's up to $200k, ... I told you. Later in the thread you said you wanted "where and why", ... that's fine, what I was saying was search the SS forum and read the threads, ..... I don't see why I should repeat the information again that I have previously contributed and is available with the search function.
I try to be as helpful and constructive to help other investors if I can. The fact you found that offensive is out of my control.
Martin
Getting back to your original question - a budget of $200k will limit your options somewhat (definitely for capital cities).
The whole "Where to Buy" forum is designed to let people share areas they think are up and coming. Sift through and find which areas fit your price bracket and go from there.
As far as the prices in the Elizabeth thread being out of date - it's because the thread was started about 3-4months back, and the market has gone through the roof since - hence the prices from 4 months ago are now irrelevant. As the discussion in there dwindles down, people don't mention the more current prices.