NSW Where would you invest in NSW in $500k?

Discussion in 'Where to Buy' started by RonAir, 20th Oct, 2019.

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  1. RonAir

    RonAir Active Member

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    Hello, looking for options ( both capital growth and/or yield ) in NSW.. Thanks
     
  2. Propertunity

    Propertunity Well-Known Member

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    You can easily find places in NSW in the bush with fairly high rental yields and low/no CG. But what is the point? By the time you pay stamp duty going in, maintenance, property management and selling agent coms getting back out (good luck doing that too), your nett yield is pretty ordinary. You need to get into another vehicle for making money, like the share market. It’s a lot less hassle and you can pick up the phone to give your broker a sell instruction and have the cash sitting in your account in T + 3 days.
     
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  3. Propertunity

    Propertunity Well-Known Member

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    Regarding CG what has your research narrowed the possibilities down to?
     
  4. Archaon

    Archaon Well-Known Member

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    500k would allow you to manufacture equity via subdivision, but this is a more specialised path.
     
  5. RonAir

    RonAir Active Member

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    I did consider that - but was not sure I could
    Find properties in that range within NSW where I could do that ?
     
  6. Lizzie

    Lizzie Well-Known Member

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    Hi Ron - your question is pretty vague (how long is a piece of string). Have you done any research yourself - have you any experience - what areas have you looked at - what is your risk level - what are you able to do to the property (reno/subdivide/nothing)?

    You will find you won't get a lot of answers on this forum unless you put in some work yourself
     
  7. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    You can find sites under that price with some CG prospects and development potential for sure. So if you are happy to hold and look at developing medium term this could work well. Can you also fund a subdivision and build a new dwelling under that total price? Less likely unless you go much further out.
     
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  8. skater

    skater Well-Known Member

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    You need to be more specific. For instance earlier this year I purchased a property for $350k, spent around $6k on a reno & sold for $450k.
     
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  9. Shaggerr

    Shaggerr Member

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    Long term, i would invest in Goulburn, when the fast train eventually gets built to Canberra, prices will rise. Apparently the rental demand is quite high as well.
     
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  10. datageek

    datageek Well-Known Member

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    Hi Ron. Some of the best suburbs in NSW for houses in that price range according to supply and demand metrics are found in the following LGAs:

    - Queanbeyan-Palerang Regional
    - Eurobodalla
    - Newcastle
    - Lake Macquarie
    - Orange

    The best suburbs in these LGAs have demand to supply ratios in the 70s, except for Orange (68).

    I'm curious, why NSW? Why not all of Australia, or just Sydney? If you need to be close by, then you need to specify your significant urban area since NSW is vast.

    If on the other hand, you're happy to travel long hours, then you've got all of Aus to choose from. Even Perth is only a few hours flight time. For the $500k price range, there are plenty of better options than regional NSW.
     
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  11. RonAir

    RonAir Active Member

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    Hello Lizzie,

    Not everyone on this site is having same level of knowledge about a particular topic. As you see above my initial question was particularly about a suburb in NSW under a certain budget
    Under '$500k in NSW' - I intentionally specified without stating too much so that I could get an unbiased view :) I would like to leave no stone unturned and hence looking for

    If you dont have anything valuable to contribute you may as well ignore the post rather than mentioning the 'lack of work' people dont put on a particular topic :)

    Thanks for your response.
     
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  12. RonAir

    RonAir Active Member

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    Thank you ! , New Castle & Orange are in my lookout. let me check the other ones as well. I did check out Gosford this weekend & look promising. But wanted to see if there are options to purchase house as most of the Gosford ones were units.

    Why not Sydney - Not a big fan of apartments, so I was looking for houses and not able to find a house in Sydney within the budget. Apartments - after opal towers & mascot towers , a bit concerned. Looked at some old apartments in Toongabbie where the yield looks good , but again oversupply of new units could damage the rentals?

    Why only in NSW ? - I am looking at Brisbane as well and also Ballarat as well.
     
  13. Lizzie

    Lizzie Well-Known Member

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    Didn't mean any offence - just NSW is a hellava big state which multi-hundreds or suburbs - and us oldies do get a little tired of naive investors coming on and basically asking "please tell me where to invest". Not that I'm saying you're in the category.

    Your first step is to narrow down what you are actually looking at - as a city suburb (Newie, Gong) are a lot different than somewhere out the back of Broke - what your risk factors are as a mining based town with high rents, but possible severe downturn, is a lot different than a lower returning but steady city suburb - what are you able to value add as something in a great location but in need to tender loving care is a lot different than a same-priced buy and forget in a "not so good" location
     
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  14. datto

    datto Well-Known Member

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    Hey Shaggerr, you didn't once in Letho near the shops on Luxford? Just curious.

    Anyway, 500K will leave the OP with plenty of change for a house in the Druitt.
     
  15. skater

    skater Well-Known Member

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    Well, that's rather rude! You come here asking people a very generic question and then get miffed when someone tells you to give more information.

    If you want serious answers from experienced, successful investors, you will have to ask the right questions. People are willing to help, but they won't do the work for you. AND they most certainly won't help if you are rude and condescending.

    You're getting soft in your old age, Lizzie. You may not say it, but I will. He was asking that question.
     
  16. Someguy

    Someguy Well-Known Member

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    I see this fast train idea coming out at the eve of every election, can’t see it happening in our life time.
     
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  17. Shaggerr

    Shaggerr Member

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    Not me bud :)
     
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  18. sumterrence

    sumterrence Well-Known Member

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    Invest in me :cool:;)
     
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  19. RonAir

    RonAir Active Member

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    Well. After someone coming up with the judgement about the work I did or not , I don’t quite get how I am the ‘rude’ one :) .. With all due respect to the successful investors,

    1. There is no template to ask a question on this site, so you ask what you want .
    2. Not everyone use a website in the same way - Pls dont ‘assume’ everyone is looking for advise to buy the property based on that the very next day
    3. I was not asking for a particular scenario and your advise on that , rather was asking within a budget what would have been a safe bet.

    Also probably it’s worthwhile considering that someone new to the site does not mean they are new to purchasing investment properties ;)

    Thanks
     
  20. RonAir

    RonAir Active Member

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    Worth $500k ??? Sure , y not
     
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