Hey Guys,
I’m a newbie to the site and certainly to investing. My mate and I are setting up an entity and together are going to start buying positive cash flow property.
We live in Sydney, and we’re going to take the advice of Kiyosaki and buy close to home – ie we have been looking at studios in Darlinghurst/Kings Cross/Potts Point – everywhere around William St (as we believe that by 2007 William St will be a new Sydney hub).
I’m reading Steve’s book though, and am looking at possibly buying in a regional centre – probably somewhere we can drive to though…
Any advice on:
1. Sydney v Regional Centres for Positive cashflow and capital growth
2. If regional centres, then which ones? I was thinking Dubbo, Bathurst, Newcastle… any ideas.
I’d really appreciate everyone’s opinion,
Thanks heaps,
Mooda
Kiyosaki has a lot of good advice – as do a lot of people. However, some advice is in conflict with others. e.g. the “buy local” thing. If you do find a +CF place in the “inner east” of Sydney you describe, then good luck to you!
My advice re advice would be to read up on a number of different philosophies and pick the one that makes most sense to you in your situation.
Hi Mooda, welcome. A newbie myself, but my thoughts – studios in those areas you mentioned seem to be oversupplied at the moment. High vacanies, I know some people have mentioned it can be difficult to get lending for small city places (ie literally depending on the size of the studio).Whether or not William St will be the hot spot of 2007, can you ride it out until then?
If you’re after a cashflow positive investment, I don’t think Sydney is likely to be your answer! Yes, look outside in regional areas – but as for where, well many of us are still searching for that answer!
[
]Mooda
Banks are VERY reluctant to lend on studios! That’s why their yields are so high most of the time
Hay Mooda,
I think the general feed back most people are giving is that the sydney market might not be the best place to find a positive cash flow investment propertys.
I think that it is a matter of researching all areas until you see a trend in a market and ride it.
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