Hi Guys,
Its my first post on the forum and looking for some expert advice in terms of my first investment property.
I am based in Sydney and looking to invest in Melton Vic, a few of my friends already have invested and reckons its a good area to invest in.
The question is whether to go for a home and land package like they did or should I go for a more older houses with bigger land area close to Melton city center.
Home and land package - $325 to $340K with rent of about $300 per week
Older house with bigger land area also comes to around $340-$350 K but rent is about $260-$270
With rent yield either option will not be cash positive in the short to medium term.
I am just guessing that if i go with bigger land area I would have option to subdivide and get better capital growth.
Seeking advice from seasoned pros here to help me buy my first investment property.
Its my first post on the forum and looking for some expert advice in terms of my first investment property.
I am based in Sydney and looking to invest in Melton Vic, a few of my friends already have invested and reckons its a good area to invest in.
The question is whether to go for a home and land package like they did or should I go for a more older houses with bigger land area close to Melton city center.
Home and land package - $325 to $340K with rent of about $300 per week
Older house with bigger land area also comes to around $340-$350 K but rent is about $260-$270
With rent yield either option will not be cash positive in the short to medium term.
I am just guessing that if i go with bigger land area I would have option to subdivide and get better capital growth.
Seeking advice from seasoned pros here to help me buy my first investment property.