Forum Replies Created
AngelWA
I have also been looking for cheap (<75K) +CF properties in regional WA. I found that there were better returns on slightly higher priced houses in the $80-100K range. Also the houses were generally brick and tile and had a longer life span in terms of income and capital gain.
I have studied some 25 properties in the cheaper range and have only found two or three with potential. I am also looking at the sub $100K market and have seen some rents as high as 200/week. The only draw back is the deposit required at these isolated places. I look for at least 10% return on the deposit + closing costs.I hope this helps.
Grant
NoviceGuru,
I am also new to this business. I am looking for small investments where I can use small deposits (<$10,000) per property. If I had $100K now, like youself I would still prefer to go for more of the smaller type. There may be better capital gains in the long run and they are smaller loans to habdle should one go empty for a few months.
I am lucky in having a good salary at the moment, and can put together small deposits very quickly. So thats my plan..START SMALL and work my way up.Grant1197
Westan,
Since I am only new at this game I am starting small. I looked for houses around $50-70K in regional areas that support mining industry workers. The properties are genrerally in high demand and rents are in the $150-180 p/week range. I have been looking for property that will meet my strick $2,000 pa cash flow on an interest only loan. The deposit can be as low as 5% for this type of deal. As I mentioned I am yet to confirm the closing costs and rates but so far they appear to look CF+. Albeit some are as low as $800 pa CF+.
GrantGogo,
I have just started looking for +CF properties last week. I read “$1M Property in One Year” and since then have found over a dozen properties which on first glance appear to be +CF.
I am yet to detail the closing costs and rates but at this stage I can confidently say they are out there. My only concern is the ongoing maintenance costs for some of the properties.
