Any suggestions on where to buy +cf properties that are still relatively cheap in Victoria that are also maintaining a steady capital growth rate? Need some advice as I’m new to the area.
Thankshi mrsimba2
it is now quite difficult to buy cash positive (even returning 10%) in Victoria this has been the case for some time (over 12 months). the highest returning areas are places that you wouldn’t want to be investing, little towns in the Mallee etc where the population is declining. try to stick with towns over 5,000 i think. having said that where can you find them ???
Latrobe valley doesn’t have much under 100k and rental is only 135pw, out westan you have stawell for about 75k you only get 120pw, horsham 95k for 155pw, Portland you need 110k+ for only 130pw, North of Melbourne the yield returns are even less. Seymore over 120k, shepparton’mooroopna over 125k and 155pw, Echuca’s even more expensive. this is just to show how hard it is at the moment in Victoria. I havn’t lived there for 5 months but feel i have kept up with the market in this state, feel free to correct me if my info is wrong.
can other add there findings to this list.regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
Hi misimb2,
The only ones I know of (and I am in Vic) apart from the one’s Westan has (correctly) outlined, include Ouyen = 45K for 90 p/w rent, Wyncheproof = 33K for 70 p/w rent.
It is not so easy in Victoria to find cheap +CF properties, but I daresay, it is not impossible. I don’t buy them, but that doesn’t mean they aren’t good value, so maybe those who do, can help.
Good luck,
Jo
yes westan and jo
agreed
i looked also in those areas wyecheproof and ouyen
and i, like you jo, have reservations, imho unless it is a bargain brick house, it is not worth the distance if anything goes wrong or massive headaches in a town of declining populationcheers
PS wesan thx for reply and if i have time and means i might take up the offer of calling/bothering you
Yes guys
saddly those towns are declining (as has been said), i wouldn’t be buying there but if something happened ie Mineral sands project then these places could take off. but better to leave them alone from my knowledge of them. Actually there is mineral sand around ouyen i think but best to check it out.regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
Yes there is mineral sand close to Ouyen but closer to Mildura my home town .At present the state government has plans to put a toxic waste dump near Ouyen This is not a plus. Mildura is a large thriving town 100 km north of Ouyen but I can’t find anything cash flow positive here although Margaret Lomas has suggested it as a possibility . As for Ouyen its far too risky for me.
hi wrodgers
it is interesting you mention Mildura, i don’t own there but i feel that it is wortha look at (as i’ve often mentioned here before) the solar tower, will be huge for the area in jobs and tourism, if it happens.
not to mention the new marina, as a lifestyle choice i can see it growing and growing.regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
