My husband and I would like to start buying some invest properties for the first. We are finding it hard to find properties that are under $100K – Can you suggest some suburbs or areas for us to start looking in?[
]Hi Caroline,
Welcome to the Forum!
Which state do you live in?
The question begs to be asked, what is your goal for investing? Do you want to wrap the property, buy and hold, flip etc?
Are you willing to travel to find a property under 100K?Cheers
Sooshie []When a problem is created the solution is created simultaneously
Just a thought, why not get a map and look at towns/areas say within 100km of you so it’s a reasonable drive if you want to have a look. Do some research of the town and the properties available in the town on realestate.com, or other sites. Ring the agents, if you think a property sounds OK, ask them what sort of rental if would bring, what percentage they get to manage a property. If you go for a drive, pick up any local papers and any real estate brochures they leave outside their agency. It’s always good to read what is happening locally if you’re thinking of buying.
Get a copy of Australian Property Investor, subscribe to it too, and you will pick up growth in most areas of the states and lots of other advice, from renovation stories, to solicitors, seminars, depreciation specialists, books to read & more.
If you’re into a bit of renovating, you might find a house that needs just a paint and floor coverings to improve it and get a good tenant. We have renovated and improved our places and have good tenants who look after the properties.
Have your finance pre-arranged, eg. equity L/C. It makes it easy if you find a bargain.
Happy searching.
Anna
Hi Caroline
Welcome to the forum.
Now NZ has a lot of houses under $100k and quite alot of forumites have already purchased here. Try searching thru previous postings on NZ.
But with your interest rates starting to go up you may have more success near where you live.
Westpac raised their fixed interest rates here yesterday and I expect all the other banks to raise their rates next week.
Regards
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