Hey Everyone,
I’m new to the world of property investing, and have been researching and reading books for the last couple of weeks or so. I believed that I had found a gem in the CBD area. However its not to be so, as banks wont lend me 80% of purchase price as its under 50sq/m (46.3).
Anyway, enough tales of woe. I was actually wondering…
As I said previously I’ve been researching, and discovered that many of the suburbs have a renting percentage of around 33.
My question is: What percentage of renters should I aim for in a suburb that will keep my property (when I manage to find one) tenanted.
I am also using http://[email protected] to do my researching does anyone else have suggestions to another source of data that I may fins useful?
Thanks all.
Kind Regards,
Nikki
Nikki
Not being funny but you would not have an issue financing a 46.3 Sq Metres unit subject to other considerations.
Richard Taylor | Australia's leading private lender
Agreed. I went to another bank and they said that they would finance the property just yesterday arvo. But by the time I got back to the real estate agent they had already sold it :’(
Kind regards,
NikkiIt's more the vacancy rate than the rental % I reckon. Keep an eye on the rental ads for the suburb – if there are heaps in that price range there may be oversupply.
There'll be another one.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
