There are plenty of areas worth considering for both rental income and capital growth. Personally, I am currently looking seriously at the Hunter Valley, Toowoomba and Western Sydney, and am in the early stages of looking into regional Victoria (Bendigo and Geelong in particular). From the research I've done so far, they all seem to have…[Read more]

I concur with JacM – Seven Hills seems to tick more boxes, and the Blacktown LGA is one of, if not the fastest growing in Australia. Plenty of potential for solid returns on well-located property in this area in my opinion. Proximity to transport is one of the keys to good future returns in this area.

I am presently cautiously optimistic with regards to property in these areas. There is potential for positive cash flow by buying near new, furnishing and renting to mining companies. In regards to future growth, while I am sure that good deals can be found if you do the work, a lot depends on future mining activity in the area and the coal price…[Read more]

There are certainly plenty of better property deals out there than the one you described in your current IP. I can’t advise because I don’t know enough about your situation and goals. However, I can tell you that one of my first IPs turned out to significantly impact my cash flow and inhibit my ability to expand my portfolio. The best option for…[Read more]

Richard, well said! I couldn’t agree more.
Kris

Renel,

I think that a BA can potentially be a very good investment in time saving. I have used them in the past primarily in order to save my own time and effort when I didn’t have any to spare. However, some care is needed when choosing one. The big problem I see with BAs is that they tend to be expensive. Especially for investors just starting…[Read more]

I would tread carefully with this one. In my opinion, a 14 year old building is not particularly old, and if you are already seeing significant maintenance requirements, it could be a sign of things to come. Sorry if this seems really obvious, but have had the property inspected by an independent builder? They should be able to give you an idea of…[Read more]

Hi Senajav

I agree with Richard in that $50k won’t go far in terms of undertaking a development. Have you considered starting a little smaller – say an existing well-located townhouse or small stand-alone house? Also, are you considering Laverton only, or are you looking in other areas? In my opinion, unless you’ve found yourself a really red-hot…[Read more]

Hi Senajav

I agree with Richard in that $50k won’t go far in terms of undertaking a development. Have you considered starting a little smaller – say an existing well-located townhouse or small stand-alone house? Also, are you considering Laverton only, or are you looking in other areas? In my opinion, unless you’ve found yourself a really red-hot…[Read more]

Another thing to consider when renting your property out is landlord’s insurance. You should be able to find a policy for under $300/year. It will cover you for damage caused to the property by the tenant, as well as any shortfall in rent if the tenant leaves without giving you written notice. Definitely worth it in my opinion.

Cheers
Kris

I recently compiled some general research on the Toowoomba market if anyone is interested – http://freedomthroughproperty.com/?p=11

We are looking at doing something like this in the future. Would appreciate any updates on how you go with your development.

Here’s my blog – http://freedomthroughproperty.com/

I intend to use it to chart my attempt at achieving financial freedom through property, as well as a repository for the research that I have been doing. If anyone here finds it useful, I’d appreciate a comment on the blog. Feel free to share it with anyone you know who might find it useful.

Its…[Read more]