Hi all,
Firstly I am new to investment and new to the forum. I have got a prop and looking for the next investment property. I have come across to few townhouse in Leumeah in parkhill ave around $220k and which can get potenial rent of $300.
Problem is I dont know much about the suburb, also there seem to be a presence of Public housing. Numbers do look good on the townhouse but I am just worried about the captial growth and If I am paying too much for the townhouse.
Any response would be helpfull.
If you want to email me the actual street number and address i will send you back a Residex report on the property.
Not guaranteed to be exact but might give you some good evidence to back up your due diligence.
Good win by the Reds over night as well.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Send Richard the email, the residex reports are sometimes quite useful.
My top tip would be to speak to shop owners and the neighbours- as local knowledge is very important.
Drop by the local coffee shop and have a chat with the shop owner
– Free and no harm done.Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
If you don’t want to stand out, don’t wear a shirt with a collar, trousers or leather shoes.
Qlds007 wrote:If you want to email me the actual street number and address i will send you back a Residex report on the property.Not guaranteed to be exact but might give you some good evidence to back up your due diligence.
Good win by the Reds over night as well.
Cheers
Yours in Finance
Thanks Richard. Just send you email with the property info. Please note I couldnt find any records of the property on RPdata.
ohh im pretty sure the residex report’s data is the same as RPdata.
If it’s any help, i have Pricefinder….the data sources is different.
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Hi there
Leumeah is a low – mid socio economic type area with a high population of renters and families.
You will have no problem renting the place out. You will have no problem with achieving the rent you want. I was going to buy a 4 bedroom villa a few suburbs over from that and i had 2 ladies in my office at work offering me very high rental amounts per week to move in because they couldnt find a place.
It is in the South Western suburbs of Sydney which is experiencing growth due to the undersupply of housing and large numbers of people heading out there. There are some expensive housing estates going out in the south west.
There is good access to main roads, plenty of shopping centres and schools, plenty of work. It is a working class suburb.
If you are looking for sudden growth i would not recommend but a good steady increase in prices and rental income should be possible.
goldies wrote:Hi thereLeumeah is a low – mid socio economic type area with a high population of renters and families.
You will have no problem renting the place out. You will have no problem with achieving the rent you want. I was going to buy a 4 bedroom villa a few suburbs over from that and i had 2 ladies in my office at work offering me very high rental amounts per week to move in because they couldnt find a place.
It is in the South Western suburbs of Sydney which is experiencing growth due to the undersupply of housing and large numbers of people heading out there. There are some expensive housing estates going out in the south west.
There is good access to main roads, plenty of shopping centres and schools, plenty of work. It is a working class suburb.
If you are looking for sudden growth i would not recommend but a good steady increase in prices and rental income should be possible.
Hi mate,
Thats a awesome advise.
When you say Southern Western, which suburb are you referring to. The problem I am facing is affordability as well. What is price range will one be looking at. And also what are the yields we will getting.
Once again your inside to leumeah is very helpfull.
hi i grew up in campbelltown know the area well leumeah would not be my first choice to buy in look towards st andrews side of town not all areas of leumeah are low life a lot of good people call leumeah home but campbelltown and the surrounding areas have suburds that even the police dare not go into take a trip to airds go to the local shops but dont be confused it is a shopping centre not a prison
South western is the south west suburbs of sydney which includes Campbelltown as a whole and plenty of suburbs within it like Leumeah, Airds, Bradbury, Minto etc
I bought an invesment in one of those 'areas' where police wont head down and buses get cancelled and pizza places wont deliver to. My tenant is always 1 week ahead of her rent, the gardens look fantastic, she allows anyone into the property that i need to head there such as banks and quantity surveyors, and she calls the property manager to ask if her kids can hang pictures using blue tack. She is a single mum with 4 kids and a dog.
This is a $235k (purchase price) property, recently revalued at $260k after 6 months and getting 9% rental yield.
You just never know what you are going to get so all i am saying is dont judge a book by its cover.
Enjoy!
goldies wrote:South western is the south west suburbs of sydney which includes Campbelltown as a whole and plenty of suburbs within it like Leumeah, Airds, Bradbury, Minto etcI bought an invesment in one of those 'areas' where police wont head down and buses get cancelled and pizza places wont deliver to. My tenant is always 1 week ahead of her rent, the gardens look fantastic, she allows anyone into the property that i need to head there such as banks and quantity surveyors, and she calls the property manager to ask if her kids can hang pictures using blue tack. She is a single mum with 4 kids and a dog.
This is a $235k (purchase price) property, recently revalued at $260k after 6 months and getting 9% rental yield.
You just never know what you are going to get so all i am saying is dont judge a book by its cover.
Enjoy!
Thanks goldies…I have started doing some research on the surrounding areas as well instead of jumping in……I am specially impressed with Ambarvale….
contact for rp data sharing [email protected]
hi,
I am new to this forum. Nice to hear from everyone. I am looking for IP at st andrews, rabby, eagle vale, kearns, Ruse, Leumeah, bradbury. Don't know which surburb to pick up. As far as I know, people are saying rabby and kearns are the better suburb.
Any one has any idea whch streets should I stay away for these surburbs?thanks
I know Leumeah quite well and would never invest there.
Whilst the numbers from a yield perspective may look half decent, CG will be extremely modest.
From a risk vs return perspective it simply does not stack up. You’re dealing with a low end demographic which exposes you to higher risks and the CG’s don’t compensate for that. I don’t have a problem in investing in lower end markets, however I would want to ensure that I an going to be compensated for engaging in such risks.
Also there is little scarcity value in land out there which are the underpinings of a dud investment for years to come (from a opportunity cost perspective).
Also in regards to the RP data and residex Stat’s, be very careful in using them as the reporting methodologies vary greatly which often gives you anomalies, eg I was looking at some data in Carlton and Hawthorn relating to apartments. RPD data indicated that the median unit price was around $200K, however this is so far from the truth. Reason being: there have been a glut of 1 bdr and studio student accommodation developments in these areas which has materially deflated the median unit price, however if you were to purchase a regular 1 bedroom unit in Hawthorn you would be looking at $380 – $450K
There is no substitute to doing your own research based on actual sales and overlaying that with other factors and one of them would be data that you receive from companies like RP D and residex.
Just make sure you test the data as the data quality in my view is low and does not always reflect the true picture.
– Free and no harm done.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
