Newbie - Buy PPOR with future potential

Discussion in 'Investment Strategy' started by OneTrader, 28th May, 2019.

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  1. OneTrader

    OneTrader Active Member

    Joined:
    24th May, 2019
    Posts:
    35
    Location:
    WA
    Hi all,

    I am new to this site but not property investment. I had a rental unit back in 2012 and sold due to personal financial problems.

    I have since rebuilt myself financially and would like to get back into real estate.
    Currently renting but I want to get my own place.
    I am mid 30's so don't have a lot of time on my side .
    Based in Perth and know that the market here has been flat or down in most areas.

    Budget is max $400k and would prefer to buy an old house on a large block of land in older established suburb. Ideally northern suburbs. Most southern suburbs seem to be affected by aeroplane noise.

    Plan is to buy and live in for at least 5 years;
    1. subdivide and build /sell part of the block
    2. knock down and build multiple dwelings.

    Any ideas on locations and strategy highly appreciated.

    Cheers
    OneTrader
     
    OneTrader, 28th May, 2019
    #1
  2. OneTrader

    OneTrader Active Member

    Joined:
    24th May, 2019
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    Location:
    WA
    OneTrader, 28th May, 2019
    #2
  3. Cate Bell

    Cate Bell Well-Known Member

    Joined:
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    I don't know WA that well, but I think that there may be too many properties at that price point in Beechboro. I know the areas around Ashfield (haven't been there for a while so I would look into aircraft noise), if you could get in around there I think it would be worth considering. Something like this 42 French Street, Ashfield, WA 6054 on good size land component. I don't know the market, buy perhaps you could get that at $400K, I always look outside my budget and basically ignore what it is advertised at- and this property at Ashfield has been advertised since February- so there may be some movement on price.
     
    Cate Bell, 28th May, 2019
    #3
  4. Cate Bell

    Cate Bell Well-Known Member

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    Cate Bell, 28th May, 2019
    #4
    Shogun likes this.
  5. David Shih

    David Shih Mortgage Broker Business Member

    Joined:
    21st Jun, 2015
    Posts:
    1,034
    Location:
    Sydney
    Hi @OneTrader,

    I don't know Perth well enough to comment, however like what Cate Bell posted above - Perth thread would be my first choice to browse through. Also on our Podcast we've recently spoken to a Perth BA and he's given us some tips/areas for investors to look at. Probably worth a listen and hopefully provide you some direction in suburbs/location as well:
    Ep18 - Is Perth the next investment hotspot ?

    Cheers,
    David
     
    Last edited: 28th May, 2019
    David Shih, 28th May, 2019
    #5
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  6. OneTrader

    OneTrader Active Member

    Joined:
    24th May, 2019
    Posts:
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    Location:
    WA
    Thanks for sharing.
    Seems like interesting times ahead for WA.

    The Perth based speaker on the podcast shared great insights.
    Can I have his details please.
     
    OneTrader, 28th May, 2019
    #6
  7. Shogun

    Shogun Well-Known Member

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    Perth
    Shogun, 28th May, 2019
    #7
  8. David Shih

    David Shih Mortgage Broker Business Member

    Joined:
    21st Jun, 2015
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    Location:
    Sydney
    David Shih, 29th May, 2019
    #8