Hi guys.
Observer of the forum for a while now but first time poster.
Anyway, my name is Luke, 24 and been looking at purchasing my first IP for a while now.
I live in the Macarthur region in SW Sydney and recently there has been a bit of new about a second Sydney Airport with a potential site being proposed at Wilton:
http://www.smh.com.au/opinion/political-news/wilton-on-agenda-as-sydneys-second-airport-despite-ofarrell-objection-20120508-1y9u4.htmlAs Macarthur is rapidly growing (plenty of new housing projects and infrastructure) and with the potential addition of this second airport, would this make Macarthur an ideal place to purchase a first IP?
Hi scha9799.
I guess at the moment my goal is to build equity so i can use that equity in the future for more IP’s or a PPOR.
I would really prefer a positive or neutral cash flow IP to start with so i can accumulate as much cash as possible for deposits to other IP’sI thought Sydney's second airport was going to be in my backyard
Cheers
Jamie
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]
Very good on that you have a goal.
so do you prepare to have a bit of "hand on" experience on you first IP or "hand off" ? what I mean is do you want to purchase a straight cashflow positive or neutral property "off the shelf" or do some reno such as do some painting, change the kitchen/bathroom, put one more dewelling like granny flat the back yard then turn to positive cash flow or neutral property ?
Macarthur region in SW Sydney is a good area to start but if you want to purchase some positive/neutral property straight off the shelf you may need to find a bit harder. but if you want to do some reno or put a granny flat it is much easier in term of the area there are many old houses with big land component its suitable for second dewellling. ( again you need to do some due diligence to find out the pocket of the are suitable for this stragety)
infrastructure coming in to the area definitely is a positive to the area, but how long will it takes to translate to captial growth is a question mark .
I hope this will help
good luck : )
They been speaking abt a 2nd airport for YEARS now!!! nothing new…+ i doubt they have the money to build it ..just look at what happened to the epping to Parra train line??? say they will build it to boost their votes in North west- once they get in ” sorry no funding for the budget…”
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
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I bet my back teeth my bones’ill be dust before they build another airport. Not too worry. We’ll be out of oil by then and flying around in Zepplins
Good one Freckle, gas bagging. can’t wait for peak hour.
lol
cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
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