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Hi whitepanda,
If you dont mind my asking why did you invest in these areas?and how long ago did you buy your properties there?
Hi Mattewp,
The central coast well it depends where you buy for instance im currently selling a property in woy woy it has been on the market 6 months and not sold yet close to shops ,transport etc and it is well priced with the current market there just arent people looking.
If you look at Umina has changed alot over the last 2years and is still changing in west Umina they have put in a new Aldi recently a woolworths and also coles took over the old bilo and there is a bunnings warehouse going in the old flemmings store so it is changing down there.
If your going to buy on cc which i would suggest not at the moment as coalstar said buy in Umina for instance i know someone who bought a 4 bedroom 2 bath on good size block in umina for 420,000 18 months a go they spent a bit of money doing it up and is still worth the same money and they paid a bit under market value at the time so prices arent moving fast
just a quick question where did coalstar have his investments property if you dont mind me asking just doing research on areas that are growing positively and negative
Basicaly i will buy now while these areas are cheap and the economy is not so good and when they have gained in value and market picks up i will sell. Bye the time that happens these areas would have gained in value like surrounding suburb in the inner west
Jamie M I read what i had written and thought wow thats cheap and realised i mistyped!!!.
What i have seen over the last few years is that Marrickville and Tempe have come up a lot from what they were and are quite abit cheaper than surrounding suburbs there are reasons for this of course i mean tempe was known as (TEMPE TIP) for a long time.
These areas are changing and have good capital growth and easy to rent and a reasonable amount as well.
And Marrickville is changing too the middle eastern community is moving out and families and investors are buying in these areas.What i plan to do is buy a 2bed 2bath terrace house in marrickville or Tempe that needs light renovations for between 530k and 550k.
Tenant it and keep it for a few years and see how the market is in 5 years time and i will buy other investment properties in the same area.You wait in a few years prices will be close to the other surrounding suburbs that took off years ago so now is the time to buy
but this is my opinion others may not agree everyone has there own perspective
Thankyou for replying if we could keep the opinions coming would be appreciated
Thanks
Sorry mistyped at the end then it was a 2bed terrace house 2bath on 219sqm for 540k in marrickville.
and for the same thing in Newtown would cost 700kyes i have had tax advice i inherited in 2007 so it is awhile ago but because of varius factors in my life have been unable to start investing it
