This is my first post so i apologise if my question is uninteresting. I own a block of land in central nsw. I am about to sell this block for $120,000 i currently owe $20000 and will split the remaining with my ex partner leaving me with about $50,000 in hand.
My question is what should i do with the money??. I would like to remain in property instead of savings or shares etc. I do not want to enter into a large mortgage as im renting in sydney already. I was thinking about cheap country housing where the money would nearly cover the total loan amount.
Where is the best place in Australia to invest in real estate.
any thoughts and ideas would be greatly appreciated
Welcome to the forum.
Firstly, asking where is the best place in Australia to invest in real estate is like saying "Where is the best shop to find good clothes?"
It all depends.
There is no one best place to invest, and depending on your investment strategy some places might be good for you and bad for someone with a different strategy.
If you want high positive cash flow then rural centres can be a good place to go. Small towns usually offer higher rental yields, but then there can be the added risk of lower population = lower demands. If you want high capital growth, well that is a completely different story. Do you want to renovate, do you just want high growth areas, do you want to buy in Sydney or elsewhere?
There are so many different ways to invest and you need to work out what strategy is going to work for you.
If you are looking for cheap towns close to sydney so you don't have to spend a lot of money you could look into places like Goulburn, Dubbo etc. Get out your Google Maps on your computer/iphone and look for the big rural hubs. Then get on realestate.com.au and start searching.
Ryan McLean | On Property
http://onproperty.com.au
Email MeGo to a bank or a mortgage broker and ask how much you can borrow.
So you know what you can service.In addition to the good comments by Ryan.
You could also have a quick look through the back of one of the investment mags – API or YIP. You'll be able to quickly scan the average prices and yields for each suburb in Australia.
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
duckster wrote:Go to a bank or a mortgage broker and ask how much you can borrow.
So you know what you can service.Haha, oops! That might help as well.
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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