Hi AR,
I found one last week on the internet re: commercial property some 30km away from Melbourne CBD.
But I didn’t pursue. It fits the 11 SS guide.
Hi M & K,
Did you look at them via internet or are you guys local in country NSW?
Which papers can I also look at?
pls advise.
Hi AR,
I would love to tell you which one but I didn’t bookmark it or note it down…so I might have to dig hard to get it for ya.
see how it goes.
yes
you can still find them in Vic. in cities such as Ararat, Stawell and Horsham.
In Stawell for instance 60k rent $120. so returns not as good as the past but still cash positive easily. But these homes are in short supply only two on the market for 60k or under.and i was buying them 10 months ago for 35K
westanWestan,
a friend of mine bought a IP in Horsham but he told me that it is still worth trying to look for one there but it is getting pricey.
We also have been looking in these areas and found some that seemed pretty good value. Low price, already rented (or purported to be). However after a search on available rentals in that area I found one RE alone had 15 rentals available. I took this as a red flag and have gone off this area….Would others read this the same? Not much capital growth in the area either as far as I can see…
quote
Kaye and I use our family and friends in country areas to keep an eye out for us.
Not much prospect of capital growth, but me no care.Michael
[/quote]
A question for Micheal&Kaye,
How far are these properties from your home?
And any hints on how you chose the areas to invest?Well,
to be honest… I have this feeling that just when the idea of buyng a cashflow +ve property investment became available to an average investor like myself, the object of this investment became practically non-existent.
It is all fine to come across a property somewhere in Ararat or whatever. But let’s be serious. You can buy shares. You can buy -ve geared property. You can buy business. But you just can’t buy the +ve geared property. It is not an investment choice, if you come across one somewehre in Ararat. Once in a life time. Especially if you happen to live in Sydney. Come on guys. You might as well win a lotto. Although it is good, it is not an investment choice.
Cheers!
Aussie Rogue
Re return in Stawell can’t remember what i said but the rent should be over $115 i’m getting that for on ex ministry house, but if it’s nice could get up to $130. There are 3 houses for sale in Warren St stawell now, one 54k, needs a paint, one 60k and one 67k, (i should ask be real estate salemen). Warren st has the worst reputation in town and is slower to rent but it’s an ok street and getting better, it’s not like houses get trashed. rent has improved in the past 6 months but agents said this winter has been a little quieter than usual.
Lawery 73
Yes there are two cheaper properties in Horsham for 89k rent should be 155k, (thats what i’m getting for a house i got in April).
daretotry
what town was that? Ararat and stawell wouldn’t have that many vacant houses in the whole town. Horsham i’m not sure, i know that houses after more than 200pw aren’t renting but there is strong demand for cheaper properties under 170pw. it’s tough if you bought an expensive house as an investment and people don’t want to rent it. You are probably right about not as much capital growth as other areas but investors are just starting to seek out these areas. and we have just been through a 7 yr draught which has affected the $$ coming off the land, i can’t see the draught going forever then what may happen?
I’ve been running all over the place buying properties (millicent SA, and Hamilton VIC) 12-18 months ago and then decided the best returns we at my door step so i grabbled 4 properties in stawell and 3 in Horsham (just sold 1 of the Horsham properties).
Keesha
you may be right, but there are still good buy’s just harder to find.
regards westanJust exchange on waterfront property in Sydney City, $640k and rental income of $850 pw for 12 months
Just to answer aussierogue – I found two +ve properities yesterday (from initial glance). I’m not sure if they are +ve after insurance/rates/mgt fees etc cause I haven’t investigated them further…
From a novice – please remind me what the terms +ve and -ve mean.
From a novice – please remind me what the terms +ve and -ve mean.
+ve: the investment gives you an income, however slight, -ve: you must pay money into the investment and claim as a deduction against tax paid.
Regards
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