Hi all, new to the game and would like some advice on our first IP.
We have narrowed it down to two properties but are split as to which one to go for. They are both 1 bedroom apartments, roughly same size (58sqm), similar rental returns, both private sales. Both are run down need kitchen, bathroom reno'd which is what we want.
Apartment 1:
Location: St Kilda
outgoings: ~$2.5k
pro's: $25-40k cheaper, 1st floor, timber floors, feel ever so slightly more spacious
Con's: No carpark (but free st permits available), longer walk/short drive to shops/supermarket
Apartment 2:
Location: Prahran
outgoing: ~$3K
Pro's: best street in Prahran, 1 carpark, short walking distance to supermarket/shops/public transport/hospitals
Con's: ground floor (less security, foot traffic past windows), no courtyard, approx $25-40k extra, carpet.
Would love some ideas/thoughts as we are really torn as to what is the right/better choice
We have narrowed it down to two properties but are split as to which one to go for. They are both 1 bedroom apartments, roughly same size (58sqm), similar rental returns, both private sales. Both are run down need kitchen, bathroom reno'd which is what we want.
Apartment 1:
Location: St Kilda
outgoings: ~$2.5k
pro's: $25-40k cheaper, 1st floor, timber floors, feel ever so slightly more spacious
Con's: No carpark (but free st permits available), longer walk/short drive to shops/supermarket
Apartment 2:
Location: Prahran
outgoing: ~$3K
Pro's: best street in Prahran, 1 carpark, short walking distance to supermarket/shops/public transport/hospitals
Con's: ground floor (less security, foot traffic past windows), no courtyard, approx $25-40k extra, carpet.
Would love some ideas/thoughts as we are really torn as to what is the right/better choice
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