Hi, has anyone discovered any towns getting reasonable rents for houses around $135-150K in Central West NSW. I’ve looked at Orange, Bathurst, Young and all seem a bit pricey in terms of what yuo get back in rent. Any help appreciated.
Hi Banner,
I saw some properties out at Wagga Wagga that had a 13% return which is cashflow +, although not very. This was a block of 4 units for $140,000. This is offset by growth of around 2 -3%pa. A few towns had good rentals, Junee I heard was pretty good (they just build a jail there which has increased demand??? or so I heard).
Don’t just look on the net, call the agents and ask them what they have with high rentals. But be careful because the water rates get a bit pricey out West, don’t forget to factor this in. The houses in the $80,000 or so range often return well, but the real bargins seem to be the renovators dreams that need a bit of paint and decorating to get the best returns.
Otto Dargan
Home Loan Manager
Mortgage House Five Dock
0297128988
[email protected]
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