G’day everyone, I am looking to buy my first IP for 450-500k. Ideally it would be positively geared or cash neutral with solid capital gains prospects. I also hope to purchase another property in 18-24 months with the equity created in my first IP. I have mostly been looking in Perth and Queensland but am open to all suggestions. thanks for the suggestions and help in advance
Welcome Tom. Have a read of the Rockingham thread. A lot of great insight there. Market is red hot at the moment but still plenty of opportunities in your price point. Rents rising quickly with it too, sign growth is not slowing down anytime soon. Get to learn the market and then act quick and decisively. Many properties going under offer within days of being listed. Properties being rented almost immediately with overwhelming amount of application. Learn the market well enough so you can do your due diligence quickly and put in your best offer, now is not the time to be low balling or messing about.
There is a lot of information in the "Where to buy" section tagged WA. Rockingham LGA gets a lot of love on here but that market has taken off. Fuel is $2+ per litre today. Rockingham is 50km from Perth CBD Lots of ways to spend money closer to Perth that haven't taken off yet but the $450k/$500k market sells quickly A quick look finds lots of interesting prospects "house, $475k and 400+m2"
Thanks for the suggestions, any thoughts on Clarkson and surrounding areas? I’m not from Perth so am trying to learn. Cheers
Hey WA gurus, any thoughts on Kelmscott? I'm interstate and Kelmscott is appealing, local advise would be great!
Too far from CBD. You mentioned Clarkson. I'd personally not look further north than Butler as absolute maximum.
I live in Clarkson, and have an IP under offer in Ridgwood which will be cashflow +ve. The market is tightening a lot but with a $450-500k budget there would still be some good prospects. To attract good tenants, aim at detached 4x2 with enclosed garages. Lots of familes in the area and a lot either work trades and have tools, or have toys like boats & dirtbikes they need to keep safe.
What's appealing about it? The fact it's cheap? East of Albany Hwy gets good comment's on here but it's not cheap. Have you searched "Kelmscott" on here?
https://www.realestate.com.au/prope...ge=rea:buy:srp-map&sourceElement=listing-tile any thoughts on this?
worth a look for sure. Merriwa is the least desirable suburb in this 6030/6036 area. But that could just mean there's more bargains to be found. You can see on google maps someone has done donuts in the next cul de sac over. This ticks the 4x2 for a family box. almost ticks the enclosed garage box. and looks to be reasonable low maintenance. Walking access to some very nice schools makes it attractive for a family who want to stay long term.
Buy High Growth Property WITHOUT Buyers Agents! Buy High Growth Property WITHOUT Dropping $15k On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia » Learn HOW Now!