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NSW Where would you buy in Sydney now if you could get 1m loan?

Discussion in 'Where to Buy' started by htopg, 1st Sep, 2015.

  1. htopg

    htopg Well-Known Member

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    Hi,

    If you could get $1,000,000 loan and you had 400k deposit, where/what would you buy in Sydney and why?

    Thanks in advance.
     
  2. FireDragon

    FireDragon Well-Known Member

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    I won't buy in Sydney... too hot at the moment. Have you considered other states?
     
  3. htopg

    htopg Well-Known Member

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    For me, I would buy a property on a subdivisible land in upper north shore area, say Wahroonga, Waitara, Hornsby, Normanhurst, Asquith etc.
     
  4. Bran

    Bran Well-Known Member

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    I wouldn't. (You know what 1 mil can buy in Brisbane?)
     
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  5. htopg

    htopg Well-Known Member

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    A fire dragon shouldn't be afraid of "hot" market ;)

    Yes, I have considered Melbourne. But that will be after this one in Sydney.
     
  6. htopg

    htopg Well-Known Member

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    3~4 houses in Logan.
    1~1.5 houses in Wynnum.
    0.75~1 house in Sunny Bank.
    etc ;)
     
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  7. Leo2413

    Leo2413 Well-Known Member Premium Member

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    400k deposit? Sounds like a development site deposit. I wouldn't be buying any standard Ip with a 400k deposit. Especially if you want to build a portfolio asap and grow wealth fast.
     
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  8. JDP1

    JDP1 Well-Known Member

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    What are you after- cg, yields, ppor,??
     
  9. htopg

    htopg Well-Known Member

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    PPOR + CG + Yields
     
  10. htopg

    htopg Well-Known Member

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    Sorry, I mean 400k is available for deposit.
    The left over can be used to build/subdivide/or casino,etc...
     
  11. Rockys

    Rockys Active Member

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    must be after something with granny flat potential then ?
     
  12. HUGH72

    HUGH72 Well-Known Member

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    3 houses in Strathpine or similar
    2 houses in a middle ring Brisbane suburb north or south
    Possibly 3 townhouses or 2 bed room units.
    3.5-4 houses in some Ipswich suburbs
     
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  13. Bran

    Bran Well-Known Member

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    How do you calculate yield on a PPOR? ;)

    (I'm going to gracefully bow out of this thread, as I have nothing constructive to add).
     
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  14. htopg

    htopg Well-Known Member

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    Yes, that's what I am thinking.
    Subdivide, build, and then grannies on two blocks.
     
  15. htopg

    htopg Well-Known Member

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    PPOR + granny = yields? No?
     
  16. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Yeah I am not sure what your trying to do. If you have 400k cash/equity, and you want to build a portfolio and buy a ppor, then buy a modest ppor and use the rest for a couple of deposits to buy IPs in brissy or wherever you think is good to buy as @HUGH72 suggested.
     
    Last edited: 1st Sep, 2015
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  17. Leo2413

    Leo2413 Well-Known Member Premium Member

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    If you want to build wealth, I would ditch the granny. Buy a modest ppor, then break up the rest of the money into smaller deposits to buy 2-3 ips. Keep it simple.
     
  18. JDP1

    JDP1 Well-Known Member

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    Yeah same here...
     
  19. DanW

    DanW Well-Known Member

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    Many people make money from PPOR play.

    You don't need to live in the whole space.

    My first PPOR was 2/3 yield, also 2/3 tax deductible.

    You could add the granny's, and the rent can pay your mortgage. Or you could subdivided build duplex, live in one side and rent the other.
    Or sell the other - and use the profit to go nearer to pay off your PPOR.
    Then later before the market improves take an equity loan against that PPOR and invest like crazy.

    Would love to have a spare 400k :)
     
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  20. sash

    sash Well-Known Member

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    Nuttin.....$1m will buy a great penthouse or large unit in Sydney by 2019 in a good area....
     
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