Hi guys long shot question but where to invest for 200k. House, Townhouse or Unit. Is it even worth doing that or waiting it out until the banks can lend more ? I feel whatever’s on offer from the banks should be taken.
Are you talking about Sydney or entire of NSW? $200k cant even get you a studio apartment in Sydney. Not even one in Blacktown or Mt Druitt. What are you going to buy?
No not Sydney or NSW for that matter, talking about all of Australia & is it even worth buyong something for 200k ? I have nothing in my portfolio in that range as I didn't consider it to be investment grade.
Some regional towns outside of Cairns. Dollar can do alright there. - Mareeba - Atherton - Innisfail - Tully - Mossman
Cheers mate I’ll take a look. What’s your thoughts on units in say Cairns or Bargara or Yeapoon area ?
Cairns is saturated so you really gotta make sure you get a good one. Bargara on the other hand would be my pick.
If you have money burning a hole in your pocket then you could consider 1. investing in REITs so that the money is still in realestate but in a better quality asset(s) 2. renovate existing assets to increase value/yield but it's a super tough time to do that 3. add a granny flat onto an existing asset (not all assets can do that though) 4. I gather this is equity in something existing so you could get the Line of Credit now but not draw down on it until you have more serviceability to go again properly. That way you have the money secured but not costing you I'm in Perth and yes $200k could by something here but it wouldn't be a great asset and it would probably cost you more in maintenant/tenant issue than it generates.
Thanks mate appreciated, I’m in the settlement stage at the moment of a place in Svennson Heights Bundy, nice little pocket just needs a fresh up and should rent well. Just hope the growth continues. Every offer I put in there, got bid out, so was lucky with this one. Low balling doesn’t work in hot markets I learnt 5 times over.
Thanks for that mate, the 200k is the total I can spend inclusive of bank loan. I do have funds in an offset but will use that as a last resort and it’s raining day money. The points mentioned above wouldn’t be applicable as it’s a home loan and I’m nearly maxed out due to having several places. Just not sure weather to purchase again or wait it out ? As would be a low grade place.
I think the $200k option in Perth is fast disappearing. Looks like maybe older tennants that want to stay on. 10/64 Fifth Road, Armadale, WA 6112 https://www.realestate.com.au/property-unit-wa-armadale-138870419
Personally I'd wait it out. No point spending money and sinking transactions costs (stamp duty etc) on something that is low grade. Concentrate on increasing your serviceability and review later on.
yea that’s what I was thinking. I want to but something in a more blue chip area next rather that the 350 to 400k range. Don’t get me wrong I have done good from them and all positive cash flow, but I think I’d like to add something more of a quality standard. Spending 200k just to add another to the list maybe not for me. although I have been told by a BA to take what you can when you can and snap it up why you can as todays money will be worth a lot less in 5 years from now.
