Forum Replies Created
Just wanted to offer an upate on this for anyone else that is interested in cf+ investments with a low buy in price.
Rokeby appears to have started moving over the last quarter and has picked up 8%. properties for sale are changing hands quickly with very low levels of discounting, tennant demand is high enough to ensure occupancy within a few weeks and crime rates are going down.
There is a development that is scheduled to go ahead called parahnville next door that has been backed by a lot of asian investors and will include a language school, sporting grounds and 800+ dwellings.
I bought a second property in Rokeby last month and had it tennented by settlement, the buyers agent I have been dealing with said a lot of investors were moving their capital gain from Sydney and Melbourne and turning it into cf+ investments in these areas and it looks like the trend will continue over the next 12 months.
Thanks Tracey,
really glad to get your insight.
I have just purchased a property there with water and hill views on a 700m block with a tidy 3bdr house, yield will be 11% gross, tenants are already organized.
I looked at a lot of areas in TAS and see good development potential in the area but even if it only appreciates relative to inflation for the next few years its positively geared from purchase to the tune of 2.5k a year.
My strategy is to gain enough capital in simple CF+ purchases over the next few years and then start value adding by buying 2bdr’s and adding a 2nd bathroom and 3rd bedroom.
then later buying and sub dividing.
probably 15 years till I get this far but i need to start now.
I woke up one morning 6 months ago, realized i am in my late 30’s and retirement without funds is a very real and frightening prospect. biggest problem now is debt serviceability. single income family learning to live within means and stop trying to keep up with the silly pressures consumerism drives us all to.
Cheers!
Just thought I would follow up and add my own input for those that are interested in the area.
I checked out both suburbs on the weekend and found the following.
1, form visual inspection Risdon Vale is an older suburb and really is a low income area, not mixed at all. 100% low income and it shows. burnout marks all over the road, broken cars cant see any growth potential at all. there is a new estate bing built right next door but it will be 15+ years before this area is desireable.
1, Rokeby seems to be a bad suburb that is starting to change. later houses that are better quality and seems to be a mix of people living there. still has its risks and a slightly lower yeild but its still possible to buy a 3bdr and get a 8% yeild.
