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First Investment Property WA. Need direction please!!

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Brendan Dwyer | 09 Mar 2013, 02:45 AM Agree 0
Hello, I am a 26 year old that has moved to WA in the last year. Have saved a $30k deposit, researched and have been inspecting properties. I have found two in particular, one is in Glendalough, an apartment which they are asking 330k for. The expected rent should be around $360 pw. The other is a unit in Bayswater, which is selling for 220k, with a tenant secured at $295 for the next year. If I was to purchase the apartment in Glendalough, I would take advantage of the first home buyers grant. If I chose the cheaper alternative, I would save the FHOG for my next property. PLEASE HELP, I just need some advice on what thebest option would be. THANK YOU ALL.
  • Eos Property | 09 Mar 2013, 01:52 PM Agree 0
    I assume the property Glendalough is one of the many, many units in the area. If this is the case you are surrounded by other comparable properties and yours is going to difficult for you to add value to make it stand out from the crowd.

    How many units in Bayswater complex?

    Is there any capacity to add value or increase rent returns on either property?
  • Jhai Mitchell | 15 Jun 2013, 03:58 PM Agree 0
    Why are you focusing on units with that kind deposit. You would want to get some link for that kind of money house and land packages are so cheep compared to Sydney.

    You would want to find a location with building infrastructure. Once its built it will be instantly be with more. Don't forget with units strata fees goes up with inflation.

    Past Joondalup has some great locations. I have 3 of my friends that have had made an instant capital gain once the house was built. I break it down in this article about how infrastructure adds Prop­erty growth
  • Doug - First Property | 19 Jun 2013, 06:40 PM Agree 0
    Hi Brendan, I have an investment option for you. $277,000 renting for $380 per week, requiring 5% deposit plus costs. If interested send me an email.
  • Doug - First Property | 19 Jun 2013, 06:41 PM Agree 0
    Forgot to mention its in WA also. ;)
  • james | 12 Sep 2013, 10:17 AM Agree 0
    hi there, came across this discussion thread and keen know which development you are talking about?
  • Harvey | 14 Sep 2013, 08:48 PM Agree 0
    Hi Doug,
    Where is this property? Thanks.
  • Elvis | 01 Oct 2013, 09:22 PM Agree 0
    Hi Doug,

    I'm in a similar position to brendan and was wondering if you have anything that may interest me?
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