Good for investment properties. You may even get a positive return from Cairns from the first year.
But in Chermside/West you will have to negatively gear though as it is close to Brissy.
Good for investment properties. You may even get a positive return from Cairns from the first year.
But in Chermside/West you will have to negatively gear though as it is close to Brissy.
I am a newbie who has been surfing the net for two weeks looking for poitive cashflow properties. Where in Cairns would you source these? I did not find anything in either Townsville or Cairns. Are there any good sites other than all the regular estate agents for finding properties in rural Qld?Hi Tuttsy. Yes Townsville you will get positive cashflow. Although that suburb/area has already boomed so you won’t get the capital growth. You can checkout http://www.realestate.com.au.
I don’t know which web site you are using but all I can find in Townsville are negative geared properties. Averaging around $120,000 but only renting at $130/week. Definately not positive cash flow prospects…where are you getting your proerty info from? I am all cashed up and really keen to start but am having a huge problem sourcing my first property….
Not giving up that easy though…I was looking at Townsville about 3-6 months ago. I could see then they were all disappearing as well so someone else must have caught on to the idea. I never did buy cause Im from Sydney and never got the chance to go up there. I never knew about the 11 second rule then. So if that is what you are using i can’t say there is many of them, if any properties at all that fit. All I knew back then was that I could practically afford anything in Townsville and the rent was generally a lot bigger than the loan repayment (basic rent/loan calculation).
Keep looking and Good Luck Tuttsy.
PS. Are you from Townsville?I currently live in Brisbane and have done so for 10 years now, but I have also spent about 10years in Towsville so I know the area well. Would love to find a pos.cash flow prop. there if I cannot find one closer to home… shall keep up the search
I was in townsville last 8 months and now living in brisy. been looking at market in townsville but best residential i could find was 9% yield could find a 11 sec rule one with current tenants.
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