Hello,
I am looking around the Armadale area for a IP. My budget is around 200k. I want an IP which i can rent for about $150per week give or take.
Are there any other areas forum go-ers are looking for these types of deals? I did have a quick look at bullsbrook also
To clarify, i am looking for a IP as a traditional buy and hold to rent out
$200,000 makes it a little hard.
I would also check the reiwa site and look at areas which have a median price of $200,000 and less and also get details on rental returns and profile on area.
If I was looking in this price range I would consider:
Balga (it would be a reno job)
Midland (probably villa)
Midvale
Bellevue
HillmanHappy hunting
Hi avranjes,
You haven’t mentioned why you are looking around the Armadale region, but I reckon for 200K you might be able to pick up one of those little 1 bed units in Mount Street right smack bang in the middle of Perth.
I mention it only in passing and have no clue as to them as an investment.
If you are a “I want some land” type of investor, obviously this ain’t much chop.
I reckon if you looked hard though, you’d be able to pick something up that would get you $ 320 or $ 340 per week after all property expenses.
$ 150 p.w. return is a pretty low bar you’ve set yourself, IMO.
Originally posted by Dazzling:Hi avranjes,
You haven’t mentioned why you are looking around the Armadale region, but I reckon for 200K you might be able to pick up one of those little 1 bed units in Mount Street right smack bang in the middle of Perth.
If it’s the one’s I’m thinking of aren’t they a type of managed investment?I mention it only in passing and have no clue as to them as an investment.
If you are a “I want some land” type of investor, obviously this ain’t much chop.
I reckon if you looked hard though, you’d be able to pick something up that would get you $ 320 or $ 340 per week after all property expenses.
$ 150 p.w. return is a pretty low bar you’ve set yourself, IMO.
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatorhello,
yes, $150 per week is the minimum, realistically im looking for $170-180 out of the box, and then hopefully more after paint or other options etc etc.
Im defn looking for as high as possible land content.
Hello there!
200K doesnt buy you as much as it used to, but its still a great range to be buying in as all buyers can afford to buy into this range now and in the future.
For your money I would highly recommend:
i) Lockridge (great CG & good rents; 200K ~$170-180pw
ii) Kwinana Strip (Orelia, Parmelia, Calista & Medina) all median price under 200K and show see great CG as the train line is being completed!Hope that this helps!!
Always on the hunt!
Prakman
The best spot I’ve found is <edited due to sensitivity of information> this area will undoubtebly show more great CG in the near future and has a lot of infrastructure planned, as a bonus yields are pretty good [winking]
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorOriginally posted by redwing:The best spot I’ve found is <edited due to sensitivity of information> this area will undoubtebly show more great CG
BAH!
Cheers
Jyeh that spots not bad redwing, but no where near as good as <edited as very sensitive information which is garuanteed to triple by the end of the year.
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
And with[xmas]coming I would definetly look at <sshhhh secret spot> [satan]
REDWING[biggrin]
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorYou guys need to write a book.
You could title it
“Speccy Bubbles’
Where to buy in WA..and where not to…
by Aus n’ Red…..specially written for ‘special’ investors
kp
Damn you Redwing! I have had my eye on ‘sshhhh secret spot’ for ages – now everybody will be jumping on board!
Oh well I guess there is always ‘not telling anyone about this place’ – only keep it quiet this time no blabbing!
Sparky
I’ve been there its great !!
Wasp
**************************************************Its not what you earn but what you do with what you earn
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