Forums / Property Investing / General Property / good area under $200k

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  • Profile photo of sam2011sam2011
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    @sam2011
    Join Date: 2010
    Post Count: 123

    looking at getting my 3rd ip on a budget of under 200k and something with a good rental return. i have been looking around liverpool area and lakemba in sydney, seem to have a resonable return. just wondering if there are any other areas i should look at?

    Profile photo of god_of_moneygod_of_money
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    @god_of_money
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    You can get 2bed+1+1 around lakemba area for 200k
    and rent out for 280k

    Profile photo of god_of_moneygod_of_money
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    @god_of_money
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    I like liverpool area as they are building IF NOT the largest hospital in Australia/southern hemispehre

    it will create jobs etc etc

    Profile photo of sam2011sam2011
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    @sam2011
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    oh really?  i didnt know that, but yeah lakemba has good returns and based on the latest population projections liverpool is 2nd highest growth area in nsw

    Profile photo of god_of_moneygod_of_money
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    @god_of_money
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    sorry A$280/week.. typo

    Yes…sydney south west will double the population in 2036.
    Remember that liverpool has good infrastructure (train/bus/westfield/hospital/medical centre/M5/M7) etc etc
    fit into Terry Ryder/Margaret Lomas criteria

    Profile photo of ClaireeClairee
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    @clairee
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    Any thoughts on areas northern NSW or in QLD? Good areas to purchase under $200k

    Profile photo of sam2011sam2011
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    @sam2011
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    had a look all over brisbane and couldnt find much, but if you go regional you will def find something.  in nsw you can have a look at gosford, they just released the city plan by i think it was 2030, they are upgrading the city centre and also creating bars/caffe's by the water, so there is definately potential in the iong run

    Profile photo of ClaireeClairee
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    @clairee
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    Ok, just in similar situation to you, and just need some direction to investigate some areas. would like to try areas that are close enough from here(Bris) to drive to have a look. Not confident enough to buy “sight unseen”. Don’t want to buy in Bris per-se, as would like to spread out our investments. Happy to go regional. Thanks for that. Any other areas you know of would be appreciated.

    Cheers

    Profile photo of sam2011sam2011
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    @sam2011
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    i dont know if you can stretch your budget to around 250k but a friend of mine bought near redcliffe, margate i think and with the new tunnels the trip from those places to the city will be reduced so worth having a look there

    Profile photo of ClaireeClairee
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    @clairee
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    interesting, yes, know those areas well.

    i see on your blog that you have the NSW Population projections – interesting info there.

    I’m going to look for the similar Data for QLD. it seems to be there at oesr.qld.gov.au.

    Profile photo of sam2011sam2011
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    @sam2011
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    Profile photo of ClaireeClairee
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    @clairee
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    yes same one I found. thanks

    Profile photo of DDDD
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    @dd
    Join Date: 2004
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    Shahabr hi, Im finding great deals all the time for my clients and sub-$200k. $140k 2 bedder with $200/wk rent, $150k 2 bed unit in a block of 8 in bundy with 3 others owned by my clients, 3 bedroom house in tassie for $156k with $195/wk rent.

    All these sorts of deals are readily available.

    This is what I do.

    Good luck in your search, Happy Hunting!!!

    DD

    Profile photo of sam2011sam2011
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    @sam2011
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    hi dd sounds interesting do you have a website?  what services do you offer, i could be interested if you can show me some samples

    Profile photo of DDDD
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    @dd
    Join Date: 2004
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    Yeah I cant remember how to do a private message on here anymore. Ive just come back on after 2 years. Can you PM me and we can then discuss off the radar.

    Thanks

    DD

    Profile photo of shellxshellx
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    @shellx
    Join Date: 2005
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    Hi DD, can you also send me the info you talked above? I don't know how to PM either. Thanks!

    Profile photo of sam2011sam2011
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    @sam2011
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    just sent my pm dd

    shellx just click on his name and click on "view public profile" then you will be able to send him a message

    Profile photo of god_of_moneygod_of_money
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    @god_of_money
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    Saw a few good deals that REA offered me
    Lakemba- 210k unit with rental = 250-280/week
    Wiley park – 6 years old 2bed 101m2 unit 290k with rental 370/week currently

    I am working on the deal @ Liverpool at the moment 

    Moore… the agent rang  me on the deal.. fully renovated house 85k with rental 150/week
    and also block of units currently rented to department of housing with yield 11-12%

    They are plenty of deals out there… not sure why using Buyer agents…to source CF properties
    I use it if I want to secue unique, rare properties in Sydney  

    Profile photo of theresajleachtheresajleach
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    @theresajleach
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    Hi DD
    Can you tell me where the house in Tassie was?
    Cheers from Theresa

    DD wrote:
    Shahabr hi, Im finding great deals all the time for my clients and sub-$200k. $140k 2 bedder with $200/wk rent, $150k 2 bed unit in a block of 8 in bundy with 3 others owned by my clients, 3 bedroom house in tassie for $156k with $195/wk rent.

    All these sorts of deals are readily available.

    This is what I do.

    Good luck in your search, Happy Hunting!!!

    DD

    Profile photo of ClaireeClairee
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    @clairee
    Join Date: 2009
    Post Count: 38

    GOM
    You must be pretty experienced with what to look for, and you have areas that you are comfortable with. Or do you buy all sorts of properties in all sorts of different areas? Do you invest fultime, and for how many years have you been doing this? I am interested, because i want to learn myself, and not have to use buyers agents etc. Though I do wonder if i should use one, to get the ball rolling in investing. We have had 2 IP’s and looking at 3rd purchase (seems like it was easier a few years ago, everything made money then!!). Always reading and taking in information, gather information from this site and others, books, magazines, a couple of small seminars. Tried to go with one buyers group, mentor type thing, won’t give any names, but they didn’t seem to know much more than I did, so that seemed a waste.

    thanks

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