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If you had 350k right now where would you buy?

Discussion in 'Where to Buy' started by Nlang, 13th Sep, 2016.

  1. Nlang

    Nlang Active Member

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    hi everyone I have finally decided to post I used to be on Somersoft has been a while between posts
    Anyway I have a few ips but I have no idea where to buy next soo if you had 350k where would you buy and why?
    I am a bit lost so any guidance would be great all my other ips I have known the area and are pretty high risk

    Cheers
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

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    Can't just say an amount, needs more info. What timeframe are you looking to invest, something active or passive, is yield important, etc
     
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  3. Nlang

    Nlang Active Member

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    Hey DT fair point!
    I really am not set anyway but I am looking to set and hold was thinking possibly house and land or newish house so I don't have to worry about maintenance
    Yield is important to cover majority of rent but namely capital growth
    My other ips are older houses in mining/welfare town and 1 in Mitchell park hopefully develop in the future
    Was only thinking new due to offsetting other properties as 2 are very positive but no capital growth and Mitchell is only just negative
    Does that help a bit?
     
  4. Brady

    Brady Well-Known Member

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    $350k, new house (high depreciation and low maintenance), high yield and capital growth - I'll take a few thanks.
     
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  5. Nlang

    Nlang Active Member

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    As soon as I know where they are ill let you know!
     
  6. Nlang

    Nlang Active Member

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    Although I believe south of Radelaide and Geelong areas could be alright
     
  7. Brady

    Brady Well-Known Member

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    I have mentioned few times on this forum where I would buy for that amount of money.
    Wont get new property, but will get - high yield, CG, large block/development potential.
     
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  8. Nlang

    Nlang Active Member

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    Would you care to point me in the right direction? As in which post or tell me?
     
  9. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Most of my clients buying in that range are picking up highset houses 15-25km from Brisbane on 600sqm+ blocks and seeing 6%+ rent returns.

    In their shoes, I'd be doing the same.
     
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  10. bythebay

    bythebay Well-Known Member

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    Old house in Frankston :p
     
  11. Nlang

    Nlang Active Member

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    Hey I love frankston
     
  12. Ghoti

    Ghoti Well-Known Member

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    For $350k you'd be thinking Frankston North?
     
  13. Nlang

    Nlang Active Member

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    Probs as close to Centrelink as I can get
     
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  14. Spiderman

    Spiderman Well-Known Member

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    Behind Centrelink is actually the good side of town (in or bordering on Frankston South).

    In the coveted high school area, walkable to the beach, near hospital, uni etc.

    But you'll need well over $350k - unless it's a small unit.
     
  15. G TOWN

    G TOWN Well-Known Member

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    It'll be a struggle to find 350k houses in southern Geelong. The Belmont/Highton prices have risen so rapidly that we're at a point where we might as well go for West/East/Newtown. Maybe there is still some value in the south-eastern part of Belmont, near Grovedale?

    However you can still get a 70s triple fronted brick veneer in the Osborne/Walsgott/Giddings part of North Geelong for close to 300, and a little more could get you into Bell Park. The parts of North Geelong just north of Church St best off avoided IMO.
     
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  16. Azazel

    Azazel Well-Known Member

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    What is the beach like?
    Can you actually swim there?
     
  17. Tranquilo

    Tranquilo Well-Known Member Premium Member

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    @G TOWN what do you think about Hamlyn heights. Seems like alot of knock down rebuilds happening.
     
  18. G TOWN

    G TOWN Well-Known Member

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    I'm a fan. The suburb's got a good feel, huge blocks, excellent housing stock ranging from 50s/60s weatherboard homes to European style triple fronted brick veneer. It's well located, being right next to the Ballarat Rd exit (getting you to Mebourne in 50min). It's only a 10min bike ride to Drumcondra/Rippleside and 15min into town. It's considered a 'fancy' suburb but the property values (late 3 early 4) don't really reflect that.
     
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  19. Tranquilo

    Tranquilo Well-Known Member Premium Member

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    Thanks @G TOWN. Good to get another opinion. We bought in Sladen st 2 yrs ago 603sqm brick. Also with the mergers of 3 high schools to Vines road we thought the area was a good buy.
     
  20. Nlang

    Nlang Active Member

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    Gtown why are your thoughts on warralily estate?
    I have never gone down the track of h and l but interested due to offsetting some other properties and very low maintenance