Hi everyone, I've just discovered this site and hope someone can shed some light for me.
I'm looking to buy my first investment property and have been suggested quite a few and i'm very confused. There's an apartment in Melbourne city which is 2 bedrooms, an apartment in Clayton which is 2 bedrooms, a townhouse in Epping which is three bedrooms and houses in Berwick which are also 3 bedrooms. THe prices are also between 400-500k.
In terms of capital growth, which is what i'm after, i've heard that a house is much better than an apartment, but berwick seems very far from melbourne for me – would that be a good area for long term growth? i know that an apartment in the city would probably be easy to rent, but am also unsure of the expected growth.
If any one can shed some light as two which of the four choices would be better i'd be very appreciative, because i'm still scratching my head…thanks!
Who is suggesting these properties?
Are they under market value? What is the yield? How much will you be out of pocket each week? Which one has the best CG prospects? Can you value add on any? Or are you talking off the plan?
Do the numbers, that will help you decide.
Yes there are thousands of properties to choose from but not so many good deals. Make your money on the way in not by hoping it will increase i value.
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