HI all,
Newbie to the forum and also hopefully our first investment property in the near future. We have pre-approval of $400K so have a wide selection. So are here hoping for some mentoring on our scenario. We are very excited but also nervous due to our inexperience and lack of mentors in property investing. Have read Steve's latest book and the learning curve has been steep but enjoyable.
We are starting to look at two main areas of Perth.
Firstly down south along the Kwinana Freeeway/Southern Suburbs Rail line, close enough to Cockburn Central and Cockburn Gatways Shopping Centre for good access (predicted to be the largest shopping centre in the southern hemisphere within a few years) but far enough away to not pay premium price. This area is 20-30 mins by freeway (on a good run!) from the centre of Perth, about same from Mandurah, 15 minutes from beach and 30 mins from centre of Fremantle. Looking at ordinary suburban homes 4X2, most are a few years old at most, good local schools, nicely planned suburbs. Obviously rental.
Secondly, around the Armadale area which is going through massive changes and development. In this area we are looking at two types of property. 1) Large blocks with older 3X1 houses that can be rented out straight away, zoned or predicted to be zoned for subdivision. 2) Newer 4X2, still under $400K in good areas, good rental demand. Apparently the area has been flooded with unit style developments and so there is a glut of those and rental demand not currently high. This area has rail service, easy access to Tonkin Highway which then links north and south freeways/highways and also good access to the domestic (thinking fly-in-fly-out clients) and international airports.
So…….what do you all think??
Thanks
Dhe mate im also a newbie in perth just built a house in aubin grove for $466k and moved in over december i just got it valued independently so before i do the yards and interior up(no grass anywhere no floors and havent even got most of the lights in yet as i did all the electrics independant as i just had to have smart wireing put in at an increase of about $4000 out of my own pocket throughout the build) and get another evaluation after all said and done. even with the short comings the value in one month on the house has jumped to $490k respetivly so i know the area your interested in is quite profitable indeed i plan to finish off the house in and out and borrow the against the equity in less than 6 months to then invest in multiple poperties. all i can really say is the its very desirable to live there you seem to be looking in the right place my neighbour is renting at $400 a week so ill be investing there too probably with great returns from duplexes so good luck with your edevours
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