I live in Bunbury WA which is about 2 hours south of Perth and am having to look for hours to find properties that have rental incomes slightly greater than the value,Please help I have 2 months left to buy something and NO ideas.
Hi
I need a bit more info to help. Do you mean you are looking for a cash +ve property? Are you looking to purchase in Bunbury? I live in Perth & have recently been researching the south-west for prospects, so i may be able to help, if I know what you are looking for and where.
cheers
Kym[
]thank you kim, I’m after positive cashflow around the southwest area, can u help?
Hi Peter – apologies in advance, but I’m about to provide a fairly robust response to your posting. Please accept this in the constructive spirit in which it’s given!
I live in Bunbury WANice place! But there’s no need to invest there if you can’t get the yields you want. But there WILL be higher yields within 60-800km of you!
Please help I have 2 months left to buy somethingWhy the rush? If it takes 3 or 6 months to do your research and find a sound investment, so what? Isn’t that better than buying something inferior within two months? And with all that learned knowledge you will be equipped to buy property No 2 quicker!
and NO ideas.NO ideas? Come on – several WA towns that might be OK have been mentioned by name on this and other forums! Have you investigated these (visits, getting past sales data, talking to locals)?
I know that from recent trips 8-9% return should be easy to get in country WA, even in some regional cities.
Yes these returns are not Steve’s preferred 10.4%, but the property may have some redeeming features (eg value adding potential, growth prospects) that still makes it worthwhile.
It’s good that you’re asking questions, but please consider the time of those who take the effort to answer them.
Rather than asking the same question repeatedly, why not assure us that you’ve followed up some of the leads given, so we can help you better with more specific future queries?
Best regards,
Peter
Look in your own back yard peterhutchy..
Sound advice i recieved from peterp and others on this site helped me out “a lot”
If your like me you start to select your “favourites” those whose thinking is along the same lines as your own or whose advice “rings true” to yourself.
search on the many community and government sites providing economic and population information on places your interested in..i once read that once you buy a property it’s only the land component in reality that increases in value, everything else depreciates.. look for something structuraly sound, low maintenence, try and get a tenanted property first up, fix that tenant into a years lease (for breathing space) if he’s happy to do so..etc etc.. if it’s your “first” property get out there, put in the time as they say.. make an ‘informed decision’
Aussies love to be near water (look at our coastal towns) so anything near the ocean, the river, the harbour.
Research is a must.. the better prepared you are the better off you’ll be.. whatever you’re investing in !
Redwing
[email protected]“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Hi Peter,
Agree totally with Peter P & Redwing. There are plenty of opportunities available. You just need to get out there and find them. Maybe have a look at Geraldton. You may be able to find some good opportunities there.
Also check out Peter P’s & Pin’s previous postings under the topic heading “research methods”. They have provided some excellent info to help you with your research.
Cheers
Kym
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