Hello All,
Im new here and currently looking at purchasing an IP for the first time.
We are looking at a 6 bedroom house for 230,000 that currently rents for $350 per on a 1.5 year lease.
The property has high growth in surrounding suburbs.
Is this a good first time buy?
Should we be aiming at capital growth or cash flow?
We have about $50 to outlay per week.Thanks heaps to the producers and contributers of this fantastic site.
Sarah
Hey Sarah,
Welcome to PI.com.
Wow, if there were only an easy answer to your question.
Seems that you have a gross return of around 7.9%. That is not a bad return but if it suits you depends on ………….you.[
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What are you seeking to achieve from your property path ? Capital gain or Cashflow is an interesting conundrum and Queentin has some great points in the following link.https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=1093
Good growth around the property is a good thing but never a guarantee. If you know the area well then you are the best expert on the buy that is available. Continue to educate yourself and keep on asking questions.
On the property you talk of…. Is it well priced to the market ? Are there things you could do to improve it’s value ? Are the vendors motivated ?
Keep us posted Saraha I am keen to hear your thoughts.
Enjoy
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(Andrew)“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein
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