Hey all,
Just wanted some help on the next step in my property investing quest. I have been investing in the bread and butter type properties but am opening my eyes to investing in property’s such as a block of 10 plus units.
My main problem is that the property is in a regional area and can’t be rented by the locals, what types of groups are out there that may want to rent it out?By the way my property is in regional Victoria and it has 14 units.
I would much appreciate any help on the matter.
many regards
alconspanion
Sorry why cant it not be rented to locals.
Is it a local law or State regulation.
If you buy in a regional area I would have thought the only type of tenant would have been a locals. Not many passing week to week rentals.
You post states that you are thinking of opening your eyes and buying a 10 unit block then you state that you own a 14 unit block in Victoria.
Sorry but i am a little confused.
At 14 units in regional Victoria you will be limited on your LVR to maybe 70/75% borrowing.
Cheers Richard
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Are you saying that you can’t get property managers?
Monopoly, my favourite game
Look at the nearest bigger town, I assume you will find property managers there who service the smaller towns arond the area and who can rent it out and manage it for you. Management fees may be on the high side, but just see if it’s worth it.
Celivia
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