Hi everyone
I am overseas and looking to buy an investment property in australia. Looking for a 1 or 2 bed apartments where rental properties are in demand by tenants and the yields are fairly good. Where do you suggest?
You will need to provide a few more details in order to answer your question. firstly, what is your budget? What do you consider a 'good yield'? AS you are overseas you would not be entitled to to the tax return benefits of an Australian resident, therefore what may be a good yield for a resident may not be a good yield for you. Also it depends on where you are, exchange rates and so on.
cheers
Sonya
Hey James,
I agree with Sonya. But once you know your budget I think Chippendale in Sydney's inner city is a great spot. I've just bought a 3 bedroom apartment there for 540,000 and it's renting at 800 a week. It's close to 2 universities the city, and the old CUB site is being developed with new apartments going in so the whole area is going to be really nice in a few years.
I think you'd also need a very good team to purchase from overseas. I'm not sure about accountants. But I do know a Broker(A guy I've used) who specialises in innovative mortages and does loans for the Comm bank. He's very experienced and quick and could probably help you plus give you some good advice.
Let me know if you want his details.
Cheers
Dean
Hate to say Com Banks policy on Non Residents is a shocker so definately wouldnt be going there.
You need a Broker with a good balance of Expat and non resident clients who understands the mechanics of being an overseas investor.
Remember if you are non a permanent resident you will be more than likely limited to what you can and cant buy.
Richard Taylor | Australia's leading private lender
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