Australian Money Forum

[x452]

I'm looking for any advice about an investment property before I speak to a professional.

Here's my situation:

Married, early 30's, child under 1 yo, no mortgage, own house paid off, $65K in savings.

I'd like to consider the pros and cons of buying an investment property. I came across a vacant block of land across from a railway line and walking distance to the station, size is 671 sqm. The suburb is 13km from the city, 15 mins by car to the city and 30 mins by train to the city.

Does anyone have any advice on properties by the railway line? Is the noise unbearable? I assume the windows would need to be double glazed to block out as much noise as possible.

I'm wondering if the block will be big enough to put 2 x 3 (or 2) bedroom units on. Rent for a similar 2 bedroom 1 bathroom property (as new) nearby is $280 pw.

Also roughly how much would this property need to be for it to become cash-flow positive is that's possible?

I've inquired with the agent about how much the property is but they haven't gotten back to me as yet.

Thanks.

[Miller]

We used to live close to a railway line. It took us 2-3 days to get used to the train noise. However it definitely affects the property value. To find tenants can also be a bit more difficult.

As for the block size, I believe it’s all about zoning. There should be council rules on how many and how big buildings you can build on the block in the certain zone.