NSW What to do with 800k?

Hi everyone,

My partner and I bought a PPOR in Sydney in 2019 and have approximately 450 K equity in the property, 200-250k of which we can access. We are looking to purchase an investment property up to 800 K, but really have no idea where to start. Obviously we’d love a strong capital growth property however are already negatively geared with our PPOR and don’t want to get too much deeper into the negative.

Would very much appreciate any advice on:
- where in Australia is the best place to buy an investment property right now (preferably house but not critical if good reason for apartment), with any specifics on suburbs, and why?

- How you would go about researching the best place to buy, particularly when looking in States or areas you know very little about.


- Any other suggestions or things to keep in mind.

Many thanks!

 

not much can go wrong if you get a good house in Brisbane, still lots of growth there, just use a good Buyers Agent.... maybe look at Perth, but gotta be a bit more careful there....

 

What is "a good house"?

 

decent land component... no flood zone... not close to power lines... not on a noisy road... not regional... these basics are a pretty good start

 

For 800k I would go a house and a unit in Adelaide. Most would say go Brisbane, but if everyone is doing that I would say you may over pay which I never like to do:

 

I feel that there is still good potential in Western Sydney - a $800k budget may be borderline sufficient.

Otherwise, Gold Coast would be good too.

 

My advice?

1. Do nothing for the next month, except refine your goals (timeframes, yield vs CG, risk appetite, borrowing capacity, servicability etc...) and educate yourself, ie: read these forums and ask questions, dig deep into realestate.com, domain etc etc....

2. Re-evaluate your goals, armed with your new understanding of your position and the market.

3. Hone in on a few suburbs/regions and spend another couple of weeks researching sold prices, rental yields, PM costs, insurance costs and talking to agents.

4. See point 2.

 

not sure abt adelaide... i dont see the fundamentals that we have in bne/syd/melb to drive growth over the long term...