where to buy 2 properties for 600K

Brett go into domain type Blacktown nsw suburb pick 2br
Sort low to high price

there’s one 339k asking it’s under offer now
There was one about a week ago which said 300k I can’t remember if it was guide that one seems to have disappeared or agent may have updated pricing following open house interest

Happy hunting!

 

Hi mate, no I haven't just trying to build a bit of a recession proof foundation portfolio at present. What is it that you actually mean mate ?

 

Hey bro personally if that was me, I'd be buying 2 blocks of land 650m plus with a 3br house on it in either Christie's beach Adelaide/ or Sullivan's beach or anywhere within 30kms of the city and preferably with waking distance to the beach and public transport, with the current rent and low interest rates you'll be paying next to nothing on principle and interest and you have good potential with capital growth. If you want a bit of diversity I'd say one house in Christies beach and another one in Norlane geelong, once again you have walking distance to water and a train station that may get upgraded to a high speed rail to Melbourne. Nor lane is lower socio-economic area but I suppose everywhere nice once was so it's all up to you what you decide. Good luck

 

Having a look at prices it seems christiea beach is a bit more expensive now, maybe Christie Downs is a bt better for your price range

 

SA - Reynella, Christie Downs, Elizabeth East, Elizabeth Grove, Davoren Park
WA - Gosnells, Maddington, Kelmscott, Armadale, Kwinana
TAS - Devonport, Youngtown, Chigwell

Give or take ~10% around the 300K mark. Yields are decent and potential capital growth is probably to be reviewed.

 

So 100k in commercial property trusts plus your deposit is unavailable as equity vs 600k in direct residential?

I'm in the same place at the moment, I like the idea of property trusts but they kill borrowing capacity. I see them as a good option to tip cash into once you've maxed out your borrowing capacity.

Unless I'm missing something and looking at it the wrong way?

 

You have some love for rough tenants.

Cheers

 

Why Devoren Park?
Reynella has gone way past 400k now.

Cheers

 

Affordability for one.
Second, these states are well placed for income to median ratios
Third, these states are due for their growth since a long time.
Fourth, the way VIC and NSW have grown, if they stagnate a little, the investment money might start flowing into these states.
QLD can be looked into as well. But most suburbs there have more renters than needed and most people target the suburbs that may already have grown or have a lot of supply. I would rather stick to Gold Coast and surrounds in quality areas than Brisbane.

Cheers

 

Davoren Park may potentially get one a Duplex at circa $300K (with 2 income sources)
Agree Reynella may not be an option

 

Goodna to Ipswich

Yes , other places might have gone up more in the last four years , but nicer areas go up first and have higher holding costs

cheaper places then catch up , which is happening now .

At the moment you want to be buying in places that haven’t gone up 50 % in the last four years .

cliff

 

Hi mate thanks for the that. Seems to be some good information there. I looked at Noelene a while ago, when I was searching in Melbs. Do you know if there is still decent value there ? Will definitely take a look at SA as you said. I know there is a lot of work coming to Adelaide within the defence industry.Cheers mate

 

Sounds like you have done quite well for yourself so far! with a 600k budget you would have an array of options but it sounds like you want to purchase at a cheaper price point. Given a lot of cheaper suburbs in the smaller metro markets have moved, 300k makes it a lot tougher to find a quality property. If you could extend your budget to 350-400k I think this would open the door for many more options. You could purchase in Adelaide, Brisbane, or Perth in higher-demand areas. Although it will push back IP4 I think it may set you up better for growth in the next few years.

 

Ok mate, yes it does appear that way. There is a few in Christie downs around the 300k Mark. Any there that looks any good mate ?

 

Thanks mate, yes I’d happily take a look at those areas in the 350/400 range. Could you suggest any areas ?

 

Hi Peter Elizabeth Easy and Elizabeth Downs areas seem to have some very affordable places. I’m guessing this area is a bit rough ?could you suggest any moves pockets of those areas ?

 

I know the property manager we use in Adelaide doesn’t manage properties in Elizabeth . I think Elizabeth is a step up from comparable suburbs in Tassie such as gagebrook or ravenswood but you’ve got to be really “ brave “ to buy there

Cliff