澳洲Australia property 3 property options | Sydney


在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m


I am interested in comments I have 3 options at the moment.

1. North Qld, A 2 story unit complex both 3 bed 1 bath renting for 190 each to long term tenants. Price $380.000. Views to the water and only one street back from water. This place had approval for two more units. The area at the moment is not high growth and most likely not for a few in my opinion. The area is getting a new shopping centre and two other projects are going to generate a lot of jobs for the next couple of years. Vacancy rates about 1%

2. Woodridge area house $275000 renting currently $320 a week, not sure what else to say about this one. A bit of work needs to be done guess 5 - 10 thou.

3. Gatton area block of land with plans for duplex seems to be no issues with council still have to do DD of course, aside from that feel in a good location. Costing on this one I'm still working on but early indication profit 80 - 100 thou before tax. Joint owners just want out to go there on way and from agent are keen and will listen to offers block currently is $145000

I'm leaning at the moment to the duplex as its a clean skin so to speak and just interested on others opinion.

Brian  

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Brian

You do not seem to be comparing apples to apples here

With 2 options you are looking at rental prospects whereas the third option is building with the aim of taking the profit

Why not go for option 3, take the profit and then look at rental properties?

Or am I missing something?

Chris  

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Don't like option 1 or 2.

Option 3 would be my pick, but you need to do lots of homework on this one.

Have you included holding costs while building? What about comparable sales in the area?

What is the worse case scenio if it does not sell, what will it rent for and can you hold, how neg will it be?

Also can you access equity instead of selling?

Cheers, MTR  

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Yes I agree not comparing apples with apples, the first two I was looking at buy and hold, the third just popped up earlier this week so figured I'd add it for an opinion.

Option 3 I need to do a bit of DD on this one to ensure the figured add up and there is a market at the end for selling. Early indication of figures looked quite good and worsed case is I just keep the duplexs and rent them out.

I will do figures on a few option on this one and also an exit plan.

Still learning this investment thing so I guess I'm treading with caution a bit, once I get the first one under my belt I'll feel a bit more confident.

Chris that was my thought process on option 3, take profit which then gives me capital to work with on another project. I would build myself, so construction is not an issue.

Brian  

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I like either option 1 or 2. Need more info on option 1 though as you haven't stated excatly where it is.

I wouldn't go with option 3 as I'm not a builder and am hopeless with my hands. But that's only me.

Getting 320 per week for $275,000 in Brisbane sounds like a good return (over 6% yield). I really like option 2.  

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Option 1 Cardwell.

Option 2 yes the return was ok thats why I was interested.

Option 3 is no problem I am a builder.

Brian  

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depends on why u are buying

3 diff demographics with very different griwth profiles and employment models

Option 1 might have the largest chance of NOT providing much cap gain due to no profit margin for you, and 2, lots more similar land ? thus not having much of a cap on supply in a limited demand area ?

ta

rolf  

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Rolf,

Option 1 I agree about this place was not going to be a cap growth. If I looked at this place was a buy and hold and build the 2nd unit some time down the track, although would really need to crunch the figures on this one.

Option 2 are you saying as there are plenty of properties being the same type that cap growth will not be as good as say other places in more demand areas? This I was looking at was buy and hold rent retuns appeared ok although a bit in the negative.

Option 3 Was to be a build and sell, The more I am looking into this one I see there are heaps of properties on the market in the area as well as land and a lot are dropping there prices which is raising some alerts in my head as to why. This should be growth area maybe it got a big influx and its not growing as big as predicted.

A lot more work on my part to do as I have said I am new to this so tread caution at first.

Brian  

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