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Where to buy?!

Discussion in 'Real Estate' started by Mark88, 16th Oct, 2010.

  1. Mark88

    Mark88 Active Member

    7th Feb, 2010
    Sydney, NSW
    So I'm looking to buy my first investment property in the next 6 months or so. I'm quite confused about where to buy, I've read as many books as possible and lots of mixed responses in regards to investing in houses vs units.
    So my salary is about 50K a year ..quite pathetic I know! However, I've saved about 60K over the last few years. At the moment I'm thinking of staying away from units and looking at the following:
    1. Townhouse or villas in an area like wentworthville, greystanes, pendle hill etc.
    2. House in somewhere like penrith, cambridge gardens, cranebrook etc.

    Anyone know how good townhouses or villas are as investment properties?

    Budget will be up to 350K

    Any suggestions would be fantastic!!
  2. Billv

    Billv Getting there

    15th Jul, 2007
    Sydney, NSW

    There are some houses around Mt Druit selling in the low 200's.

    Land in Riverstone was recently rezoned residential
    so this suburb could be worth looking at a well.

    Riverstone is not very attractive atm because it still has some pockets with housing commision properties but this is changing and it isn't far from Kellyville and Rouse Hill so it has potential for big improvement.
  3. Jacque

    Jacque Team InvestEd

    16th Jun, 2005
    Hi Mark

    If you prefer houses (better value-add prospects) then take a look at Blacktown and surrounds. I just negotiated a nice little brick 4 bed 2 bath house in quiet st, walk to Doonside station for under $350K. Still good value investments out there that also rent well. This house should easily return $380-400 per week.