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NRAS has some good features, but there are also pitfulls to it too, including:
1. Lump-sum payment
2. Retal amounts different to expectations
3. Focus on cashflow and not capital growth
4. Not doing proper DD
5. Fiancing problemsMore details here:
http://achievepropertysuccess.com/fivemajor-traps-to-avoid-with-nras-investment-property/Cashflow positive properties are out there in Australia but they can be hard to find. Another option for you could be to create cashflow properties. For example, buy a unit, do a small cosmetic reno (paint it, possibly new kitchen or bathroom) and then rent it out for a higher price and higher yield. Another option could be to buy a house on a large block, put a granny flat in the backyard to increase the cashflow of the property. Under this method you would need to undertake detailed research and ensure you are ware of the local council DA rules.
Goodluck, I wish you all the best in your property investing journey!!!
I've seen her speak and she definitely knows her stuff. I know someone that did her the course and while he hasnt implemented the stuff, he said it was well worth the money he paid. Goodluck!!
Hi Emma,
It can be very frustrtating finding a good agent. You should ask them a number of questions before considering any real estate agent. For example:
1) Does the agent listen to you or simply provid generic responses?
2) Do they ask question or ask for feedback?
3) Are you comfortible dealing with them?
4) Do they know the area?
5) Experience on your individual niche?
There's a lot more detail at my blog (link below), and select 'finding an agent'.
Goodluck!!!
I don't have any experience investing in Ballarat. But as with any investment in a smaller town you should undertake substantial DD on the area. Try and find out if there are any new schools or shopping centres being built in the area, jobs growth, net migration, average owners vs renters in the area, drivers of the local economy etc. this will help your work out the likelihood for capital appreciation.
