This is my first investment property. I’ve got my deposit, buffer of $10k, pre-approval and my max is $310k. I’ve looked in Penrith (around station) and South Penrith and Campbelltown. Penrith I did not think the rental yield was that good compared to what the agents were saying and advertised prices. Campbelltown seemed better but I just don’t know the area and the areas to steer clear of.
I’ve been thinking about Goulburn now but again don’t know the rough parts. I was thinking Canberra side or very close to town centre but I’ve heard Canberra side is rough?
I grew up in Penrith and have lived in the inner west for 10 years, I bought with my sibling in Marrickville 5 years ago which is why I’ve got money for an investment property! I don’t know other parts of Sydney aside from Penrith and IW well enough.
If you were starting out and had your time over – where would you start?
I think the best approach is to get professional advice. Unfortunately, I see so many people get it wrong due to bad advice or lack of knowledge.
There are so many great areas to invest in throughout Australia. There are so many different strategies you could implement. If you are looking at buying and holding a property, Sydney has already had a huge spurt and heading towards the top of the market.
Are you looking for capital growth, cash flow, renovators or value add properties? Have you looked at Land Tax thresholds within each State and Territory.
It is advisable to get some professional advice. Real Estate Agents are there to sell you property not to give you financial advice which I believe, the reason you want to invest is to improve your current financial situation and make the right financial decisions. Look for someone who offers a service, qualified in this area and has your best interest at heart.
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This reply was modified 10 years, 4 months ago by
Kylie Walsh.
Kylie Walsh | PPI Investment Advice
http://ppiinvestmentadvice.com.au
Email Me | Phone MeLicensed Property Financial Advisors who provide Tailored Property Advice and Solutions
The West Sydney market has already boomed heavily, I’ve had revals on clients properties rise 75-80k in one year in these areas (20%+ rises).
If you are concerned about yields, I would be looking interstate than Sydney at this time. Brisbane still shows growth potential and OK yields (after factoring the holding costs), Adelaide is chugging along with strong yields as per usual and the larger regionals of NSW look OK – but whether there is going to be price appreciation in the meantime remains to be seen.
There’s great investments all over Australia, the key however is to establish your strategy. An investor with a strategy early on will achieve a lot more than someone using the scatter-gun approach. Find something that you’re good, and do this repeatedly. I find this has been the unique factor that the most successful investors do.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
If you were starting out and had your time over – where would you start?
I would definitely start in Brisbane. As mentioned previously there is still some growth left in Brisbane.
However since you are not from Brisbane, you might have to factor in the cost of a Buyer Agent if you don’t feel comfortable or have the time to find an interstate property yourself, inspect it, do the research etc.
Cheers
Andrew
superAndrew | Property Analyser and Finder Tool
https://property-analyser.com.auI bought in Goulburn nearly 5 years ago. Snagged a house for $110 k that needed renovating and yoday rents for $270 and would be valued over $200k. Goulburn is now out of my price range but it’s certai ly still a good buy depending on your strategy. When I was last there they also had built a Bunnings which is a good growth sign. You really need to spend some time in the neighbourhoods
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This reply was modified 10 years, 4 months ago by
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