Stats:
Goal:
To seek CG on land and earn passive income over time.
I'm looking for:
Price:
Seeing this is my first property I am looking for something cheaper (i.e. around the 500K mark or less). Once I get more experience, I will start looking at more expensive developments. I'm happy to pay less for a run-down house and renovate if I can add value.
I am only looking at Perth for the time being, looking at suburbs within 12-15km from the CBD (i have a bias towards suburbs NOR and towards the west having grown up in West Leederville and living in Mt Lawley at the moment).
I am looking into the following areas because I believe they are lagging compared to surrounding suburbs and/or have subdivision potential:
Any advice on these areas or my strategy would be greatly appreciated.
Thanks!
$300K cash in bank.
- $120K (excl. super) pre-tax base salary.
- I don't own a PPOR because I work as an expat, so my employer pays for all my accommodation expenses (not included in the $120K figure). My work takes up quite a bit of my time so I would prefer something quite simple and stress-free to begin with
- I'm not sure if it makes a difference to anything but I am an Aus citizen and have never owned a PPOR. So I'm still eligible for the first homebuyer's grant if I buy a property for less than $500K.
Goal:
To seek CG on land and earn passive income over time.
I'm looking for:
1) Older houses on larger blocks of land with the potential for high CG of the land and suburb as a whole (either due to gradual gentrification of area or infrastructure being built nearby); and/or
- 2) The potential to subdivide, maintain & renovate property on front and build at rear; or
- 3) The potential to demolish and build triplex villas.
Price:
Seeing this is my first property I am looking for something cheaper (i.e. around the 500K mark or less). Once I get more experience, I will start looking at more expensive developments. I'm happy to pay less for a run-down house and renovate if I can add value.
I am only looking at Perth for the time being, looking at suburbs within 12-15km from the CBD (i have a bias towards suburbs NOR and towards the west having grown up in West Leederville and living in Mt Lawley at the moment).
I am looking into the following areas because I believe they are lagging compared to surrounding suburbs and/or have subdivision potential:
- Koondoola (i believe they have proposed higher density zoning amendments?)
- Beechboro (see above)
- Mirrabooka (no proposed zoning amendments but i think its value may be lagging compared to surrounding suburbs)
- Scarborough (I could only really afford an apartment for sub-$500K here, but it would leave me cash flow positive and i could use this equity to purchase a second property in one of the suburbs above).
Any advice on these areas or my strategy would be greatly appreciated.
Thanks!