Forum Replies Created

Viewing 5 posts - 1 through 5 (of 5 total)
  • Profile photo of Steve-wSteve-w
    Member
    @steve-w
    Join Date: 2011
    Post Count: 5
    June 21, 2011 - 8:32 am
    startxing wrote:

    Hi everyone,

    I am not new to this forum, and I always received extraordinary info regarding investing in Australia. This time, I have my eyes in Liverpool NSW, Sydney.

    First look of the suburb, with house median price at $360k and unit median price at around 250K (from Investsmart), looks very affordable.

    However, there is always the famous “crime” hotspot that really let Liverpool become a “stop better don’t touch” area.

    My questions is, I am look at buying this offplan project on Lachlan st, which is around 1.5km from the Liverpool railstation, around 1km to westfield shopping centre; price for a proper 2 beder with 2 bathroom at $370k. The main reason I want to consider is, this project won’t be complete for an other 2 and half years. (sounds more like 3 years to me)

    Having need to put in 10% deposit for offplan projects, (just like others) earning 3% interst for the next 3 years in a Trust account, hoping time will do the magic and increase by around 10% when it comes to settle? Is it reasonable expectation or I just being a lazy investor?

    Thank you in advice!!

    Just my 2 cents, why off the plan? To me it seems a little too expensive and to rely upon growth by itself is a "hit & miss" approach. I'm a firm believer in you make your money on the way in. We just negotiated an older 2 br unit for 175k and with a paint and carpet will get between $280 & $290 pw rent. It may not be the prettiest suburb but it gets the yield, growth etc. After all, it still comes back to supply and demand.

    Profile photo of Steve-wSteve-w
    Member
    @steve-w
    Join Date: 2011
    Post Count: 5
    June 17, 2011 - 5:18 am
    Jamie M wrote:
    Hi Steve – I'm confident it will. What was the initial LVR and are you carrying out most of the work yourself? Cheers Jamie

    Hi Jamie

    Initial LVR is 90% and hope to spend no more than 8-10k but may get away with 8k if I dont create a deck out the back. I'll most likely use trades we know as we have over 10 other reno's on the go at the moment. Fingers crossed it goes according to plan

    Profile photo of Steve-wSteve-w
    Member
    @steve-w
    Join Date: 2011
    Post Count: 5
    June 15, 2011 - 2:31 am
    Jamie M wrote:
    That's a pretty good buy. It should be worth a fair bit more after the tidy up as well. Cheers Jamie

    I'm hoping so. Based on the other sale results, there is no reason it shouldn't  re-value up allowing me to extract the original monies put in to purchase.

    Profile photo of Steve-wSteve-w
    Member
    @steve-w
    Join Date: 2011
    Post Count: 5
    June 13, 2011 - 12:45 pm

    Hi Guys

    Happy to share good trades. Just finishing a couple of reno's in Sydney and surrounds. I've got some good and cheap painters, sparky, carpet supplier and installer, bathroom fit out, kitchen supply and install, just missing a plumber. I can't seem to find one that's reliable and cost effective. If someone can show me how to upload a list or just email me.

    Profile photo of Steve-wSteve-w
    Member
    @steve-w
    Join Date: 2011
    Post Count: 5
    June 13, 2011 - 12:32 pm

    Hi Guys

    I've been lurking for a while and thought I better join. Great site.
    Tolland and the other DOH area's for me has potential. We just negotiated a 3 b/r house in good nick for 110k. Next door is under contract at 157k albeit with a clean reno. Rent should be 220 pw for a quick clean and tidy.

Viewing 5 posts - 1 through 5 (of 5 total)