Hi guys,
I'm looking to buy an investment property for about $500k, somewhere in Sydney. I'm looking to narrow it down to a few suburbs. A broad question I know, but I do have some guidelines:
Most important are it be within 20km of town, strong demand from a half-decent class of tenant, and reasonable capital growth prospects. This will have to be a low-maintainance investment, so I'm not screaming for CF+, obviously enough.
Did you actually ask a question? When I read your post it just sounded to me like you were telling everyone what you were doing. I didnt actually notice a question in there.
True enough, rather silly of me. What I was asking for was a recommendation of what a good area might be. Like I said, a broad question. But I've been away from Sydney for nearly five years now, I don't really know the market, or even which neighbourhoods might have improved, and which might have gone downhill.
Don’t buy in Surry Hills. They are selling the apartment I currently live in, expected sale at auction is 450-550k. It is one bedroom, 30 years old and not spectacular in any way.
Yep one bedders are hot property and give the best ROI.
Just do a google search and buy the cheapest properties in any area … old strategy but works …
Could you narrow that down a little, what is any area?
might be a bit biased as i own one in the area, but have a look at Ryde. prices are on a steady increase, they have been building a shopping centre for a few years now and its due to be completed within 6months. there is also construction of new apartments 2 beds which go for 600-700k. you can get a 30yo 2 bed for about 400k with a rent of around 400pw of 1bed around 300k mark, with a rent of around $300pw. if you want to invest in renovating you can find some really good ones, spend 10k or so and your rent should go above 6% return
You'll probably find a bank won't finance a 1 bed unit,. especially if the total area is less than 50 sq m. If you don't need bank finance by some good fortune, still your selling prospects will be limited for same reason.
2 beds or more far more viable.Do some armchair research (internet) into different areas. Use APi magazine (any newsagent) for suburbs with unit values in your price range. And compare rents, the better the rent the less you have to cough up yourself!
quickchick
Nope dont agree with that chickie,
I have been investing in one bedders for 18 years …
The question to my understanding relates to second hand well located one bedders hence the pricing …
Second hand ground floor … independent valuation needed for banks … and over 65 m/2 very easy …
I am still doing it … find your own way I did … the teaching is you doing yr home work not me finding it for you.
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