I am not aware of any place you can get these figures from apart from the friendly local RE agents. You will have to contact them but you can be smart about it. As Steve’s book says, ring up and pretend you are looking at moving to the town for work and are interested in what 3 bedroom houses with large yards (or whatever) they have on their books; vacant, about to be vacant or currently leased. If you do that to all agents in town, you can get an idea what the vacancy rates are for that particular type of property.
Regarding all the motorway like m4, m5, eastern distribution, harbour bridge… if you have e-way tag then you will travel for free except you have to pay for GST that’s all. I would assume it will be the same for m7. It’s will be silly if you don’t use e-way tag.
Warm Regards
ChanDollars
E-tags doin’t mean you travel for free on any motorway Chan$. The only motorway that you can get a refund on is the M4 or M5. You have to pay all the rest out of your own pocket I’m afraid.
I hate the fact that the NSW gov does not make it compulsory to have a e-tag. It works in Melbourne so well. I have travelled down there extensively and find it a breeze without any ‘toll plaza’s’.
Have a closer look at what sort of properties they have for rent. They will more than likely have a range from 1 bed units to 5 bedroom houses. Each property will have a specific market and the idea is to try and find that market that has a low vacancy rate. It may be a 3 bed house or it may be a 2 bed unit. It would depend on what industries are in town or close by and what sort of people the town is attracting (ie. families, singles, retirees etc)
The Western Sydney Orbital. It will connect the F5 (road to MEL) with the F3 (road to BNE) by skirting around the city and charging you $912 + GST in tolls.
Hi Ben,
I would never buy negative geared property! but that’s me. I am in the process of buying in Lithgow, not far from Sydney, great capital growth last year and positive cashflow. There are many other regional areas in NSW also, and even in Syd. if you research enough and are patient.
Leo.
Please can you help this ‘Doubting Thomas’ (me) and post some figures on those +ve cash flow properties you have found in Sydney and Lithgow. Just purchase costs, deposit and rental return will be fine. I don’t even want locations. It’s not that I don’t believe you, it’s just that you will really help me in believing they are out there.
thanks rugbyfan, i know what you mean about not just investing for returns.
Once I find properties that have good returns, then i will make sure that they are decent ares to invest in.
Do you do it the other way around? find a good area first and then look for +cf IPs?
Yes I do. I have already done homework on certain areas and concentrate on those. Once a property comes up, I can buy it straight away as I know the area is fine.
You will strugle to do it the other way around, because if the +ve CF properties are in good areas, they will be snapped up before you have had a chance to do you due diligence.
My husband and I are wanting to purchase 10 or more +cashflow IP by the end of this year,…. I am willing to buy almost anywhere in QLD, providing it has great returns.
Thanks,
tyoung
You will get yourself into all sorts of trouble if returns are you only criteria. What happens if you buy in a town that is decreasing in population and 6 months after you buy you have no tenants and the property has halved in value. What happens to your $1 million in property. It will very quickly be eaten up and you will end of owing the bank a fortune.