Hi All
I recently joined property investment website. I am looking to buy investment property with positive cashflow in Sydney western suburbs. This is my first time to buy investment property.
I have couple of suburbs such as Glenfield, Blacktown, Doonside etc in mind but not sure where to start
ANY SUGGESTIONS ??
Are you looking at units or houses and how much do you want to spend?
Are you expecting to just purchase something that is CF+ or do you have a strategy to make it CF+ (eg reno). Do you mean "really" CF+ or CF+ on an 80% lend?
What has you research told you so far about these areas? Why them?
If it were me that was investing then I would look into the northwest as this is where most of the population and economic growth is being forecasted. Anywhere along the new north west rail link should do well. There will be new stations at Cherrybrook, Castle Hill, Hills Centre, Norwest, Bella Vista, Kellyville, Rouse Hill and Cudegong Road. This whole region will be opened up with the new rail corridor and should be an area well worth further investigation.
Agree with Bardon but you are obviously looking at a different entry point. Depending on your budget – I would be looking at Mount Druitt and Doonside areas.
Regards
Shahin
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
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Geeta firstly welcome to the forum and I hope you enjoy your time with us.
What sort of budget do you have in mind ?
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi guys
thank you a for your advise.
My budget is about $300000. The idea to buy the property and renovate and sell after a while.
I would like to buy in northwest but my budget is limited .
Hi,
$300,000 is the very bottom of the market. I live in the Hawkesbury area, NW Sydney. You won't find many properties at this price in the Hawkesbury region. Penrith and its surrounding suburbs may present you with some opportunities? Try Werrington, Cambridge Gardens, Cranebrook. Here is a summarised market overview I put together for Jordan Springs a new suburb near Penrith. The figures are based on the surrounding areas. I hope it's useful! http://investmentproperty-howto.com.au/jordan-springs-market-overview/
$300K is not the bottom of the Sydney market. You can still buy houses for low $200K in Mt Druitt.
I'd look at Blacktown, Lalor Park area. Properties are in high demand but you may get something in your price range that needs a reno. Blacktown LGA has high population growth forecasted and expected good CG.
You could also look in St Mary's, Mt Druitt for a bit cheaper.
When you say "hold for a while" do you mean rent then sell after ??? 2 years? 5yrs? What then? Why is your goal to sell?
If you want positive cash flow Mt Druitt will be better. Buy $220K, rent $340.
Thank you all for suggestions and your advise I really appreciate it.
My aim is to buy the property and overtime do some renovation then sell it in couple of years time. As it is my first property to purchase I'm little bit unsure of what's the best options to consider as keep it or sell and buy another investment proprty
I'm doing lots of research within the blacktop n doonside mt druit areas…
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