Greetings fellow property investors.
After a weekend of searching for rental property in the traditional fashion I've decided to try an alternative approach as I found the whole experience rather degrading.
We are a professional couple with a small well trained cavoodle looking for a house or large townhouse to rent on Sydney's North Shore – anywhere between North Sydney and Wahroonga. Ideally it would have 3 – 4 bedrooms, 2 bathrooms, a small yard or courtyard and a double lock up garage. Close proximity to a train station and a modern kitchen and bathroom would be great and we are willing to spend up to $850/week – although we may consider a little more for the right property.
If you have a property that fairly closely resembles the above description and would like to lease it to tenants who are also property investors and who would also look after it the way that they want their own properties looked after then please feel free to contact me by private message in the first instance (bit uncomfortable putting my email/phone number on a public forum).
Thanks and regards,
Carl
Hi Carl, the budget seems a little tight for a 3/4 bedder (you might scrape a very unrennovated place for that sort of budget on the LNS). Top it up by $100-$150 per week and then the doors should open otherwise you may be stuck around Beecroft/Epping/Eastwood/Cheltenham/West Ryde stations or along that rail corridor.
Whats been the problem? You should easily find something about the Turramurra area.
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
Am I the only person choking at the idea of paying $850 per week in rent? You could pretty much buy something for the same weekly outlay…
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Hello, I agree that you should be able to find a property in this rental range.
Why not a rent to buy for that much outlay per week?
Not a problem. There’s one down the street from me asking $4,800 per week!!!!
:-0
Jac, we pay for the convenience in Sydney – atm you’ll find a few 3 bed units or townhouses down around $700/wknd but they won’t be too glamorous. The rentals have tanked a bit due to some changes in the fbt/living away so the rug has been pulled on investors at this end of the market.
I don’t know where you’d be thinking of which would be in budget?
Hi Guys,
Thanks for all your comments and replies. It's been quite thought provoking.
The main issue I had is that despite being prepared to pay $45K over the next 12 months I'm still being treated like pondscum by the agent just because I choose to rent. The agent is typically around 14 and probably either lives at home with mummy and daddy or rents themselves. The agent turns up 10 minutes late to a 15 minute inspection leaving the 20+ people who have turned up less than 5 minutes to run around fighting with each other to inspect and decide if this is where they want to spend the next 6 – 12 months of their lives. Despite all rents being quite similar, all rental properties are not the same. There are a few gems out there in my price range but get snapped up the day they get listed.
I do also choke at spending $850/week in rent – especially after living overseas. I spent 2 years in a huge 4 bedroom house by a lake surrounded by famous footballers and only 15 minutes drive from a major UK city for almost half of what I am paying now. I spent another 2 years in Istanbul in an area surrounded by actors, musicians and movie directors for about a quarter of what I'm paying now. To come back and have to pay significantly more than both places combined weekly for a fairly average place has taken 2 years to get used to – although I'm still not really used to it yet.
We had actually intended to start looking at purchasing around now but a property purchase from March didn't go quite to plan and we had to inject quite a bit of extra cash into the deal which has forced us to continue renting because our deposit has been chewed up. I have looked at no deposit home loans which these days require a guarantor. As both our families' reside overseas this is not an option. I have looked at rent-to-buy but most of these seem to be further from the CBD and further south/west than I'd like to go and most vendor finance I have seen lately has been for new apartments.
Does anyone know of any rent-to-buy or vendor finance places on the north shore or does anyone have any other creative options that I might be able to take advantage of? If we were buying our own place we would be willing to go significantly higher on the weekly payments.
Thanks again everyone.
Carl
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