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What would you buy? A new property or old one that needs renovation.

Discussion in 'Investing Strategies' started by vsdabhi, 13th Oct, 2009.

  1. vsdabhi

    vsdabhi Member

    Joined:
    6th Oct, 2009
    Posts:
    17
    Location:
    Perth WA
    Hi,
    I am confused and need help tomake decision. I have got an investment property. I want to buy IP. I saw 2 new villas and one old property. If I buy old one for $400K and spend about $25K for renovation, I can rent it out for $400 per week. If I buy 2 new IPs for $750K, I can get $ 350 for each. Can you please do some maths+add your experience and advice me which option is better if We consider rent, tax benifit, depreciation etc.
    Thanks.
     
  2. JamesGG

    JamesGG Member

    Joined:
    3rd Jul, 2007
    Posts:
    21
    Location:
    Melbourne
    Either option could work, I guess, but I don't know that the returns on either look particularly impressive straight up.

    What's your strategy; how do you plan to make a profit from your investing...?