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Hey thanks dannyde, its wonderful to hear from someone with personal experience of doing this.
May I ask whether you plan to buy your own home at some future point? If so, what factors would affect your decision about whether and when to buy one? Would you plan on selling off some IPs to fund the purchase of your own home?
Brendy wrote:Thinking of buying a IP in Mildura shortly. The city appears to have a lot going for it, new marina, Large Solar infrastructure , Some mining going on in the district as well. Also there is consideration being given to a casino to be allowed there.There are properties that are positively geared in the 150-200,000 price range. Although there may not be a real lot of capital growth for the future. Any ideas?
Just FYI, the company that was supposed to be doing the solar plant went bust in September 2009. Obviously Mildura has many other things going for it but perhaps you shouldnt count on that one.
brunowa wrote:There are loads of properties on the market at the moment that are selling for under $200,000 and renting out at around $300 – $350…. mostly studios or 1 bedroom apartments in central locations.
I have heard that the banks are reluctant to lend against properties less than 50 square metres in size.
