NSW IP ideas (budget ~$2m) around Sydney

Discussion in 'Where to Buy' started by mystical_tuna, 12th May, 2021.

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  1. mystical_tuna

    mystical_tuna New Member

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    12th May, 2021
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    Location:
    Sydney
    Hi everyone, I'm looking for suggestions and ideas on where to buy an IP.

    Have previously been looking around the Eastwood area. Main criteria have been:
    • Around ~1km walk to the station, especially on the West side of the tracks
    • House in decent condition (without needing to do much work)
    • Decent sized block with potential for some future development (like a subdividing into a duplex)
    • Looking primarily for capital growth, as long as the rent is reasonable
    The reason I was looking around Eastwood previously is because I know the area fairly well and there's the potential of moving there to live if my family situation changes. It's also about with a 15km radius of the CBD. Unfortunately for me, with the recent jump in prices and changes to planning rules in the area, what was previously an ambitious goal appears to be now pretty much impossible.

    I appreciate that having a $2m budget actually makes me in a fairly decent position but I'm probably suffering from tunnel vision on the area at present so some fresh perspective would be great.

    Thanks in advance
     
  2. Gockie

    Gockie Life is good ☺️ Premium Member

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    Maybe try letter box dropping.
     
    standtall likes this.
  3. thunderstrike888

    thunderstrike888 Well-Known Member

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    $2M investment. How much LVR and how much rent are you expecting?

    How much of your own money is it going to cost you to just hold the property?
     
  4. Scott No Mates

    Scott No Mates Well-Known Member

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  5. Gockie

    Gockie Life is good ☺️ Premium Member

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