If you had $300k budget for a IP where would you buy?

Discussion in 'Where to Buy' started by Jean81, 14th Dec, 2016.

Join Australia's most dynamic and respected property investment community
  1. Jean81

    Jean81 Member

    Joined:
    14th Dec, 2016
    Posts:
    7
    Location:
    Sydney
    Hi,
    If you had pre-approval for $300k to $350k where would you buy?
    I already have 1 in Kingston and 1 in Logan so would prefer to avoid these areas
     
  2. Kassy

    Kassy Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    524
    Location:
    Canberra
    Hi,

    I'd probably go for somewhere like Morayfield, can pickup a pretty new 4x2x2 for around $320k at the moment and get $350 rent. I have a property up there and have never had an issue getting tenants. Lots of infrastructure nearby and more going in...

    Kassy
     
  3. strongy1986

    strongy1986 Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    709
    Location:
    VIC
    Townsville , cairns

    One from left field - phillip island - lots of new housing stock has supressed prices the last few years. Its about to be soaked up in my opinion


    Maybe hobart but i woild be careful thrre now as its moved a bit too much for my liking

    Lots of spots in brisbane and adelaide that are still good.value.
    Try redlands area in brisbane for 350k or some areas around strathpine etc in the north
     
  4. D.T.

    D.T. Specialist Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    8,492
    Location:
    Adelaide, SA
    Those all sound too regional, I'd rather be in metro area of a rising state capital, like Adelaide.
     
  5. strongy1986

    strongy1986 Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    709
    Location:
    VIC
    I did throw adelaide in there, a lot of sydney investors would say Adelaide is too regional

    Townsville - population 190,000 - surrounded by mountains and flood plain, port facilities, good beef industry, defence base , fifo? - in my opinion will boom like Darwin did (much smaller town)
    Cairns - sureoubded by national park / mountains. Dont like its credentials as much as townsville but its a safe bet due to land scarcity and tourism
    Phillip Island - under 2 hours from melbourne, only an hour from the outer south east. Great surf beaches, penguins.... and houses for under 300k (well shacks). This will go well over the next couple of years as holiday home investors / retirees have been prices out of the mornington penisula.
    Redlands - nice bayside areas. They beat to their own drum in that they dont really consider themselves brisbane but are still only 30 - 40 minutes away. They have their own upper class suburbs with good schools etc. Will lag brisbane. I also liked redcliffe due to land scarcity and the beach but i think its been overcooked for the time being. Especially seeing the housing stock is terrible - mosyly fibro
    Adelaide - lots of great areas to pick. I like the le fevre area and some of the hills suburbs interest me a lot as yiu can get a large parcel and this will be sought after in the future. I also like adelaides land scarcity
    Hobart - once again great land scarcity with mountains rivers etc. Pribably dependant on money from melbourne and sydney. I think still some good value in the middle rung suburbs - around 8 - 12km but you really need to remember that its Hobart and not a massive city, 400k is a lot of money there
    Also like areas like dodges ferry and midway point but i dont really think.these are part of hobart