Where would you plonk $400k ??

[ok180]

Yeah I know there is a hundred of these types of threads but hows about another one?

I have about $400k im looking to spend on an IP or two. Would prefer something that offers good cashflow. I always prefer to buy houses rather than units/townhouses to avoid strata fee's. Want to stay in areas with population above 100k. What are you guys buying in that range at the moment?

 

[mumbai]

Yeah I know there is a hundred of these types of threads but hows about another one?

I have about $400k im looking to spend on an IP or two. Would prefer something that offers good cashflow. I always prefer to buy houses rather than units/townhouses to avoid strata fee's. Want to stay in areas with population above 100k. What are you guys buying in that range at the moment?

Western Sydney, especially Blacktown and beyond will have what you are looking for in your range too.

 

[ok180]

Western Sydney, especially Blacktown and beyond will have what you are looking for in your range too.

Any specific Suburbs you like?

 

[Propertunity]

Yeah I know there is a hundred of these types of threads but hows about another one?

I have about $400k im looking to spend on an IP or two. Would prefer something that offers good cashflow. I always prefer to buy houses rather than units/townhouses to avoid strata fee's. Want to stay in areas with population above 100k. What are you guys buying in that range at the moment?

I don't think ther is any need to go outside of Western Sydney for this. Buy a place for $250-300K in North St Marys, Tregear, Shalvey, Emerton, Hebersham and surrounds (staying away from HC). Drop in a granny flat for $85-100K and you've spent your $400K on getting 2 x lots of rent. Overall achieving rental yields of 8+%.

 

[Terry_w]

Is that cash, or is that the value of property you want to buy?

 

[Ven007]

Hi Ok180
I would say Perth, but considering your $400k budget you need to go for a 3X2 villa, or units close to CBD, but if you are looking for houses you need to go beyond 30km radius

 

[John_]

I don't think ther is any need to go outside of Western Sydney for this. Buy a place for $250-300K in North St Marys, Tregear, Shalvey, Emerton, Hebersham and surrounds (staying away from HC). Drop in a granny flat for $85-100K and you've spent your $400K on getting 2 x lots of rent. Overall achieving rental yields of 8+%.

How much are granny flats getting rented in said location?

 

[Aaron Sice]

 

[John_]

 

[Rixter]

I always prefer to buy houses rather than units/townhouses to avoid strata fee's.

Why do you want to avoid them? You are still paying them with a house too - just under different expense names of Insurances & Repairs/Maintenance. You're just budgeting for them in installments throughout the year via Strata/Body Corp fees.

Back to your question though...for short to mid term CG i'd be putting it into the Perth's residential markets.

 

[ok180]

Is that cash, or is that the value of property you want to buy?

That is the value of the property we are looking to buy.

 

[ok180]

I don't think ther is any need to go outside of Western Sydney for this. Buy a place for $250-300K in North St Marys, Tregear, Shalvey, Emerton, Hebersham and surrounds (staying away from HC). Drop in a granny flat for $85-100K and you've spent your $400K on getting 2 x lots of rent. Overall achieving rental yields of 8+%.

What has your experience been like with granny flats? Do you find they rent out quickly and is there any problem renting the house on the front?

 

[Propertunity]

How much are granny flats getting rented in said location?

That will depend on the number of bedrooms in the granny flat - but $250-280-300pw, in that range.

 

[Propertunity]

What has your experience been like with granny flats? Do you find they rent out quickly and is there any problem renting the house on the front?

Have a read of this and other granny flat threads:
http://somersoft.com/forums/showthread.php?p=991586