Win,
Low Strata is a rare thing nowadays. Especially with new OTP, it always starting from minimum $900 p.q and up to $2000 or even more.
Will you choose Parramatta for property investment?
- Thread starter freya0325
- Start date
Win,
Low Strata is a rare thing nowadays. Especially with new OTP, it always starting from minimum $900 p.q and up to $2000 or even more.
You can say "no one can predict the future, who knows?" to justify any type of investment. It's too easy. There's always uncertainty, but a successful investor will increase that level of certainly through DD and good strategy.
Remember , after the last boom peaked in Sydney in 2003 , much of Sydney went sideways for around ten years and many OTP units bought in docklands have subsequentally resold for less that their initial purchase price ....
Cliff
Do you mean Docklands in Melbourne which is more like the Darling Harbour of Sydney ?
Melbourne . But I do remember a reported case of someone who bought OTP in Ultimo selling for a significant loss .
Cliff
Conclussion: Do not invest in Parramatta unless you want to stay in as PPoR
Many thanks Rick and Cliff for the sharing. I surely learn a lot from your thoughts and comments in this forum.
and also some other people that I cannot remember the name.
Therefore in conclussion, it is not a good decision to buy Parramatta OTP apartment now, especially due to the proeprty investing cycle is now at the top almost.
I'll focus my search into other state like Brisbane QLD suburbs.
Many thanks Rick and Cliff for the sharing. I surely learn a lot from your thoughts and comments in this forum.
and also some other people that I cannot remember the name.
Therefore in conclussion, it is not a good decision to buy Parramatta OTP apartment now, especially due to the proeprty investing cycle is now at the top almost.
I'll focus my search into other state like Brisbane QLD suburbs.
Sorry you're right. The OP was originally asking for parramatta. I was clearly against parramatta from the beginning.
But what I want to speak out is, there's no one strategy fits all.
I learned and see that there're different types of strategy that investor used, and if you are structured correctly you can be successful...
Nathan Birch/Robery K using Cash flow investment strategy successfully
Chris Gray using a blue chip suburb strategy successfully.
I have encountered a young 30 years old person who's been buying only OTP from 2008, and now owning more than 10 mill portfolio.
Thanks to this forum
Cliff,
yes, Utimo, NSW 2007.... I've been thinking to buy or even live there myself due to close proximity to City and CF+
base on this: http://www.realestate.com.au/invest
Select NSW metro Areas, Ultimo is at the top #1 Yield 11.2%
Many thanks to SS forum comments and guidance, therefore I didn't go ahead in getting Studio apartment in Ultimo.
Another article which should be classified in Ultimo not Pyrmont: http://www.smh.com.au/nsw/australia...ist-from-pyrmont-robbery-20150607-ghiib1.html
There are some Houso in the area too.
Cliff,
yes, Utimo, NSW 2007.... I've been thinking to buy or even live there myself due to close proximity to City and CF+
base on this: http://www.realestate.com.au/invest
Select NSW metro Areas, Ultimo is at the top #1 Yield 11.2%
Many thanks to SS forum comments and guidance, therefore I didn't go ahead in getting Studio apartment in Ultimo.
Another article which should be classified in Ultimo not Pyrmont: http://www.smh.com.au/nsw/australia...ist-from-pyrmont-robbery-20150607-ghiib1.html
There are some Houso in the area too.
Jerrybee... I Agree DD and good strategy is the key. From what i learned is not to rely too much on CG only. It's should be both CG and CF (Treat CG as bonus).
Wow that guy is indo
Nah i encountered this guy in Seminar, I couldn't believed it myself that he is only 30 and he owned more 10 mill worth of IP. He has started buying in 2008 or so and all his portfolio is in Zetland.... I refused to believed it at first, but it work for him.....
It just proved that there're no strategy that fits all. One may say it's the worst thing, but other can make it work.
Is his portfolio growth primarily a result of his OTP purchases, or did he have some huge external sources of income/CG growth?
If it is primarily from OTP growth, I would assume the 20/80 rule applies, with a minority of titles providing the majority of growth.
Adbough... TBH don't know .. I have only have around 5 mins to chat with him. He said his first one OTP he bought for 380k (I don't know if this is 2 bed or 1 bed), while now it has been valued around 850+....
You can find him if you want, he works with Chris Gray Yourempire.com.
On the plus side of these ludicrous asking prices for Parra OTP, ... 850-900K for a small 2br box pushes the value of my 9yo 2bdr 145sqm courtyard apartment just south of the Western Hwy up very nicely by comparison
Purchased Nov 2013 for 420k.
Far out...
I guess that's the effect of the OTP and Chinese buyers.
Somewhat...I really don't know Melbourne at all so I wouldn't know where to start. I lived in Brisbane for a year so have some knowledge of it, just the flat CG in a lot of areas scares me a bit; it seems to be somewhat of a resource based economy (not to the extent of Perth) and is feeling the mining boom coming off a bit. I'm not really sure what would drive growth there. Part of being in Sydney is the ease of access for management or if I need to perform minor maintenance on the property myself.
Hi Tom
From what I have been reading on this forum, Melbourne has been crazy as well.
If you have lived in Brisbane and know Brisbane, I think it is a good place to start
Good luck!
