If i gave you a deposit to get started in property investing where would you invest ?
and
What would be your choice of investment?
D
OK i’ll start,
If i was starting out again i would take the advise of an old real estate agent many years ago who told me to invest in one bed units close to the city.
He suggested main sudurbs in Sydney like – Parramatta – Carlingford – Ryde – Gladesville – Balmain – Rozelle Nth Sydney etc
I bought and still own a one bed unit in Balmain in 1984 for $42,000 and it has performed so well over that time.
D
Wealth4life,
In 1999, I did as you suggested, bought one bedroom units. BLOODY DISASTER!!! There are so many one bedders around that they’ll never grow in valuation. Pyrmont is chocked with one bedders and studio apts.
You said close to the city. I hate your description of “close” Paramatta is over an hours drive a light traffic.
Balmain and North Sydney are the only close suburbs.
Balmain was a real workers area. A mate of mine bought in Balmain as he couldn’t afford anywhere else in Sydney at the time.So Balmain started at a very low entery price for property.
With your money, as a deposit, I would be looking at dual -occ sites in the Curl Curl areas. That ‘s the Northern Beaches.
I’m looking there now.Another rule to property investment is to follow the railway line.
NOT on it, but a five minute walk away.My thoughts.
bruham.
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