I have a number of IP that are negatively geared but would now like to purchase +ve geared property, I have Steve’s book and it mentions the 11 second rule. So far I have not found any properties that come close to passing this rule, are there properties out there that do?
I am in the Brisbane area.You need to buy steve’s second book as that is more up to date with the current market conditions.
Rgds.
Lucifer_auHi Damian,
+CF properties can be a bit hard to find in this market. They are more ‘made’ than ‘found’ these days. What I mean is: Try looking at properties that could benefit from a quick rejuvenation/reno so as to add value(& equity)for the tennant, then you can ask more rent thereby making it +CF. Some suggestions might be like to paint, polish floorboards, carpet, air-conditioner, heater, carport. Whatever is appropriate but not tooo expensive. Tenants will gladly pay more for a clean & comfortable place to call home, and it will rent more quickly.[biggrin]
Maybe you could do a search of the forum for…Positive cashflow property. Or +CF property. Either one is sure to turn up heaps of info for you.Also, you might like to go to the members section and look for DD. She/he is a spotter/bird dog of +CF properties in Sth East Qld. and for a fee can find the type of property you are looking for.
Regards,
Sharon
Originally posted by damianwhite:I have a number of IP that are negatively geared but would now like to purchase +ve geared property, I have Steve’s book and it mentions the 11 second rule. So far I have not found any properties that come close to passing this rule, are there properties out there that do?
I am in the Brisbane area.Perhaps you should wait until the bubble bursts?
Look at when Steve’s Book was published. Then Look at when the Bubble started. should give you a hint.
You must be a real newbie. When rent is roughly equal to mortgage repayments people buy. At the moment my landlord is subsidising me to the tune of $160 a week. Nice! If you want to pay me more to stay in your “investment” PM me.
Air goes in and out. Blood goes round and round. Any variation is a bad thing
Hi Damian,
I am currently living here in Cairns. I have just bought a 1 bed unit for $83,000 renting @ $150p/w. It doesn’t meet the 11 second rule but it’s not that far from it.
Another one I am looking at, at Edmonton (15mins south of Cairns) is for $79,000 and renting at $140p/w.
I think Carins is worth a look if you haven’t any problems in buying a unit under 50m2.
Regards,
Guy.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
