Hi,
Recently contacted an agent in Fingal to inquire about a 3 bedroom house. The property is currently tenanted but once it is sold (meaning, if I buy it), the tenant will move out. It rents for 110/wk–about 8.8% by his calculations. I haven’t checked this against mine. He said rental is hard to come by in the area. Anyone familiar with the the Fingal?
Cheers,
EmmaHi Emma,
I have visited a website that may be able to help you. http://www.realestate.com.au it has heaps of info on all areas including statistics on average income, types of families, even what is the most popular car they drive!! check it out!I hope this helps,
‘Gotta Groove Gotta Move’ [8D]
Becky
Invest in People for a Prosperous Future!
Hi Becky,
Will check it out! Thanks.[
]Hi Emma,
Just looking at your first post, you wrote that the Agent said ‘rental is hard to come by in the area’.
In what context did you mean this?
Did the agent mean it’s hard to find tenants in that area or does he mean there are plenty of prospective tenants, but not enough rental properties?Obviously if the existing tenant is going to move out when the place is sold, and there aren’t many prospects for getting a new tenant in quickly, it could end up being a money drain.
If you do end up buying it, see about getting a clause put into the contract that allows you to bring prospective tenants in to view the place prior to settlement. That way you can line up a new tenant to lease the place as soon as it becomes yours.
Good Luck.
Gordon
Invest in People for a Prosperous Future!
Hi Alexandra
can you just clarify which state this town is in, how big it is (population), nearby industry, etc, etc ?
cheers
the B [
]HI,
Fingal, is in Tasmania
Launceston: 70.96km
Devonport: 143.79km
Hobart: 148.91kmClose to Cornwall,Scamander…
I hope I’m on the right map here…
Cheers
Sooshie []“Giving is a Blessing, receiving is the bonus”
Soosh
postcode search gives:
Postcode FINGAL BAY, NSW
2315Postcode FINGAL HEAD, NSW
2487Postcode FINGAL HEAD, QLD
2487Postcode FINGAL, TAS
7214Postcode FINGAL, VIC
3939So it may be any one of those
the B person[
]__________________
“Life is a Dance”Hi all,
DOH! [
]Thanks Bruce…
Got to go to sleep…
Night Night [|)]
Sooshie [
]“Giving is a Blessing, receiving is the bonus”
Hi Guys,
Thanks for all your replies. Fingal is in Tassie. You got it right, Soosh! []
Becky, I have emailed the agent back to inquire exactly what he meant by that yesterday. Maybe emailing is not a good idea…hmm…I think I should ring him instead so he’d know I’m serious enough. Will do that after this post. Based on my calculations (11 sec solution), it’s not positive cashflow unless he lowers his selling price by about 10k. But I’ll still have a go. It will be good experience to talk to a seller.
Good idea about the clause, I did not think of that.[]
AlexaThe thing I like about this sight is being able to gain so much knowledge from all the contributions. And I now feel it necessary to offer some advice. Being a Tasmanian I have noticed that a few investors are interested in sights in Tassie that us Taswegians would not consider, possibly because the price/rent ratio seems great. Fingal is a very isolated tiny community, I cannot imagine people would be lining up to rent here. So lots of research needs to be done to ensure purchasing in such an area is going to be the right decision. Good luck.[
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