All Topics / The Treasure Chest / Any good IP in Sydney for 300K?

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  • Profile photo of HueyHuey
    Participant
    @huey
    Join Date: 2003
    Post Count: 213
    May 26, 2003 - 4:16 pm

    Is that possible to find a good IP in Sydney for around 300K & if so, where? I only can afford that much.

    Thanks

    Huey

    [:D]

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,213
    May 27, 2003 - 4:58 am

    Plenty mate. Try units in Campbelltown or Cabramatta. prices start around $140,000. late last year I went to an auction in Maquarie fields -ex housing commisison 3 br house went for $150,000. Aound the blacktown area you can get houses for about $200K still.

    Terryw
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    Profile photo of HueyHuey
    Participant
    @huey
    Join Date: 2003
    Post Count: 213
    May 28, 2003 - 2:43 am

    Many thanks Terry, Is it easy to get tenants in these areas & about how much per week for a 200k IP?

    Huey

    [:)]

    Profile photo of CYCY
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    @cy
    Join Date: 2002
    Post Count: 7
    May 28, 2003 - 6:38 am

    I think basic 3br fibro starts at 270+ at blacktown. Decent houses would go for 300+. For 250s you may go to campbelltown (also minto , mac fields). Or you can go further west say Mt druitt/St Marys.

    If you lucky you can find one in Central Coast ( gosford etc) for 300k.

    Rent probably 190-220 pw max. – unless reno, of course.

    As long as the property is presentable , I can’t see why tenant won’t live at your place. Not everyone can afford 500 pw to rent at Maroubra – so therefore there’s always demand to rent @200 pw.

    cheers

    Profile photo of HueyHuey
    Participant
    @huey
    Join Date: 2003
    Post Count: 213
    May 28, 2003 - 1:21 pm

    Thanks CY, I will search thru Domain.com.au. The areas I’m looking for IPs are limited because I don’t feel comfortable buying in areas that I know nothing about. Houses in Sydney are so expensive but I used to live there.

    Huey

    [:)]

    Profile photo of George1George1
    Member
    @george1
    Join Date: 2003
    Post Count: 59
    May 29, 2003 - 6:20 am

    For 300k you have to decide whether you want capital growth or a decent rental return in Sydney as it doesn’t buy you much. You have to also decide on an area that a bank is willing to finance you in. There is no point finding a studio under 40 squares for $200,000 in Darlinghurst if the bank requires a much larger deposit as extra security.

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