Forum Replies Created
Thanks guys.
I agree, it make sense to keep extra fund in offset account then to pay the capital.
My overall plan is to have a combined portfolio, mostly focused on capital growth but some on negative and cash flow. Capital growth is the preferred option to start with so build my portfolio.
Do you guys think unit\villa would be better option to start with and save fund in offset account for second property which could be house in different city?
Thanks WI
Any feedback on Wanneroo and Asbhy?
What would be your pick between good condition, near new house in WannerroAshbySinagra side with decent land size(Not possible to rezone) or Old house large land around Joondalup?
Hi all,
I have narrowed the search to below areas and want your help to go ahead, here are some options :
- Morley, Dianella (Villa, Unit)
- Wannerro, Ashby, singara (New or near new houses)
- Joondalup (Old unit, houses)
- East cannington,Langford, Bentley. (House, unit,Villa)
Can I please get some feedbacksuggestionscomments regarding above options on which should I prioritize.
Thanks.
AVS
Hi WI
I have been looking at the at units, but I am trying to find an independent unit semi detached if possible instead of an apartment.
If I do find some, they are really old. How does the renovated property perform? Do we still get high maintenance issues with it? How much benefit do we get in tax return with it?
I was aiming for property build in or after 2000. I am not sure if I need to drop this criteria out of the list as I am struggling to find many !
I have been looking at some suburbs in south perth. Any feedback for Thorline, cloverdale, high wycombe?
Cheers
AVSworldinvestor wrote:Hi AVS
For units close to the city in Perth you could try.Mt Lawley
South Perth
Como
Mt Hawthorn
Inglewood
Maylands
Yokine
As far as houses go I really don't know where you would be able to purchase at $400k within 10 km from Perth CBD.Rents are very strong at the moment. I would try to buy in smaller complex 6-8 units.
Happy to help if you have any further questions. I am from Perth.
Cheers, WI
Thanks heaps for your comments and help.
I did tried searching units in some of the above suburbs, but did not had much luck finding an independent unit.
I will defiantly get in touch with you, I am sure I will have some more questions.
renel wrote:True. I guess my first problem is I have 2 sets of criteria based on 2 sets of advice! First is buy with in 10K of city (my budget means 1 or 2 bed aprtment under 60sqm). The other is to own land land land (house), meaning further out. I have been mainly focusing on the first one as my mindsest is that as the population grows, the 10k radius of the city will be in higher demand…Or not. I dont know. It sounds like a buyers agent may be my best bet!I have been doing exactly what you have done. and I have been given the same piece of advice to stay withing 10k range from the city. I am looking for something in Adelaide as I am located in SA. But its same story, can either get really old house (1960.s or so) which may need maintenance or which has been renovated but still I find it risky. The other option is to go far from city and get a property with descent land area and which is not too old.
I have started going with suburbs now. To check the potential performance of the suburb based on the surrounding area and location but I know it is not the best way to select.
I have made a list of places with combination of both, some far from city and some in 10k range. I am going to inspect both type of house and than decide on which I feel to go. But I still think it is better to buy a good house (New and More land area with rental return) than old house in 10K zone, but still struggling to convince my self. Let me know if you get a solution on how to crack this.
I agree SA may not be the best place for IP, but I agree with Jim that it is easier to buy in state you living than going interstate.
Buying biggest piece of land is the preferred option but I noticed, most of the big land comes with really old house 1960’s or so in budget I am looking for, hence I had second thought about unit. But I am still looking for house with more land in suburbs closer to city.
I am not really worried if it is couple year old, but with 1960’s or so property really worries me with maintenance.
I am really confused selecting the suburbs. I am looking for suburbs no more than 10 Km from city.
I don’t want to buy old houses build before 2000. Any recommendations for Suburbs ?
Is it a big deal to buy old houses which are renovated? I am worried that I will not gain much of tax benefit.
Finally is it good buying a unit with small land area or old house with big land area?
jim64 wrote:Hi AVS,Now is the perfect time to buy…………………..
I agree with Jacks points,although i wonder if the duplication will result in property prices skyrocketing as when it 1st opened,Jack will remember,houses were 80k,land 20k and that was in 2000/2001,not that long ago.It concerns me there is no industrial areas for employment down south,Lonsdale is a ghost town these days.
Every property magazine pinpoints Christies,Port Noarlungs to invest in,so guess where the interest goes………..dont follow the sheep.If i were you,come into Dover Grds,Sturt,anywhere in the Marion council,you will get something for the money you want to spend,if you do,you have a prime IP to develop at some stage,may not be tight now,but if you had the option later…………….its a no brainer.
Athol Park????????????? go for a drive and have a good hard look…………………..Jim
Jim
Thanks for your opinions and help regarding your comments. I have already started my prep work for looking for properties. I just wanted to make sure I am on right track with time.
As I mentioned, I am trying to be cautious for my first IP, hence thinking not to go too far from CBD.
Can you please give your opinion regarding Athol park? I am not located in Adelaide, but looking at the facts and figures It looked like a good option to me as can get houses not too old for descent price and it being close to Woodville, I am expecting it to perform good in next few years.
JT7 wrote:Hi AVS,there a many variables involved in investing in property.
It’s always a good time to enter the market and there are many many markets right around Australia moving in different cycles.
Deciding on where to buy will depend on what your end goal is and what strategy you intend to employ to get you to the end goal.
It makes the road easier if you’re first IP selection is successful and structured correctly.
I purchased a property west of commercial road in Seaford last year for CG and value add with a potential future renovation. The markets been flat over the past 12 months but there are a number of transport infrastructure projects nearing completion such as the southern expressway duplication and extension of the railway out to Seaford that should greatly improve access to the area.
You can be sure, they’re not making anymore land by the sea and some of these properties lend themselves to renovation to improve both yields and value. There are areas within the Onkaparinga Shire that have been rezoned to encourage medium density so land has some scarcity value. It has great lifestyle attributes and opportunity for baby boomers and FIFO miners.
There is a lot of talk about Adelaide benefitting from the opening of the Woomera Prohibited Area and BHP’s Olympic Dam Mine. Some are talking about SA taking off similar to WA and I suppose time will tell. At the end of the day, property is a long term investment and I don’t think you’ll loose buying into Adelaide and who knows maybe it will take off once all this mining comes on line. Happy days!
Jack
Thanks for your comment. My strategy is simply, looking for capital growth at the same time, descent rental yield. At this stage, I am cautious in risk taking being my first property hence was thinking about being close to CBD. The only problem then is to pick option of either buying good house nearly new in suburbs bit far from CBD or buy a unit close to CBD.
I agree there are lot of opportunities in Adelaide, but to search the one with most ticks is difficult one for me. But me being new in game would be the major factor in it. But will try to get as much information I can and will get started !!
