NSW What are some good suburbs to invest in at $500k?

I’m looking at my first investment property and have already got pre-approval from the bank.
Despite researching I am still not confident in making the right decision so I decided to also go through a Buyers Agent for my first property.

He’s sent through 2 different properties under my budget that are in BURPENGARY EAST, Queensland, with a predicted rental yield of 5.02%.
They are both brand new properties with the aim of getting the cash back too.

In an ideal world, I would must prefer somewhere within NSW as that's where I am.

What are you thoughts? Thank you in advance!

 

Is the buyers agent getting paid by whoever is building / developing the property?

How much are you paying the buyers agent.

 

It was $14,900 in total, which included assisting with my pre-approval, finding the right property and assistance with property management. It was a one-off fixed fee and not a percentage on final price of a property.
I was in a very complicated financial situation during my loan application and a few brokers turned me away.
Situation has since changed and just got a new job with full-time hours with a huge payrise.

I would not know for sure if they are getting paid by the builder but I'm assuming they probably would not disclose that information to me.

 

I assist with finding the right property manager and mortgage broker for free!

We don't know your situation or buying requirements but 15k is A LOT to source new properties. What work is required for the fee? Call the developer and ask what stock is available?

Have you paid the 15k up front? How much is the 'cash back'?

 

@My House QLD

hmm and how much would you charge? Just for comparison?

 

Generally, op, a buyers agent suggesting only new properties is a red flag.

why? They might be getting a commission or marketing fee from the builder / developer.

If the developer is offering a couple hundred properties (couple hundred lots of commission) and you offer one, whose side are they on?

 

Agree with other posters here...

 

If your strategy is to buy a bran new investment property then why do you need buyers agent for that? You can just do that yourself?

 

Don’t do it. You’re getting ripped off.

 

The cash back is $20k.
They also sort out all the legal stuff, negotiating, documents, contracts etc.

Apart from that, which suburb do you guys recommend as a good investment starting point? Either existing or brand new houses.

 

As others have rightly said, don't do it! Also a tip for you, when someone is selling you something (property) AND they want to take care of your finance, legals etc "we look after everything for you so you don't have to worry about anything" type of spiel, that's not a good thing in most cases.
Come back a little further south to Deception Bay and look what you can get in regard to an existing house, have a search on Deception Bay in the search bar (top right)

 

Nothing like 15k. I can source a new house for free if anyone is interested!

 

500K , Sydney metro, house on good block of land, try Mt Druitt.

 

C'mon @datto, surely Green Valley or Dhurruk should get a guernsey

 

who is paying the cashback? Who is receiving it?

 

Hmmmm... cheapest freestanding house in Green valley is nearly 700K. Maybe Miller which is close by? Nah, nothing under 600K.

Doh..Dharruk is in the Druitt pcode 2770 albeit the classier area and you'll need well over 500K. Got to try areas like Letho for under 500K.

 

Just because they could afford to get colours in their tatts, doesn't make them classier.

 

Would love some help, have recently gone through a divorce and trying to find my feet looking for an investment. I really am looking in QLD for areas that have the highest capital growth potential. I would be looking in the $300k-500k range ideally. Is there something you would really recommend? I was looking at Deception Bay a year ago before everything happened, but think I have missed the boat (a bit), it has definitely skyrocketed!

 

Latest data shows 12 month growth at 3%- so doubt you’ve missed any boat.

 

Warning!!



For $500K you can get into the northern suburbs on the NSW Central Coast just an hour away from Sydney on the M1. Or as @datto said, some of the suburbs in Western Sydney.