Is this a good property to invest in? Pls help

Hello World,

I am about to start investing… I have not yet found property that meets Steves 11 sec rule… closes I have got is 8-9%.as opposed to steves 10.4% target.

[?] 1)Where are these properties.. I know they exist in regional areas; but how to find out or research information /tenancy rates/ of these regional areas.

[?] 2) I have a property in Wagga that is worth 95K returning $125/week… now is this a negatively geared property that has +ve cash flow? Is this a good proposition?

95k Interest only loan @ 6.25% – $5937
Rent @ $125/week + $6500
Insurance/Body Corporate – $ 247
Depreciation – $ 500
Rent Commission – $ 105
GST $ 10.5
Maintenance – $ 200

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Total Tax Deductions – $ 500

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Tax Refund ( @ 30%) on $500 $ 150

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CASH FLOW

Interest – $ 5937
Rent + $ 6500
Insurance/Rates – $ 247
Rent Commission – $ 105
GST – $ 10.5
Maintenance – $ 200
Tax Refund + $ 150

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CASH FLOW FOR THE YEAR []+ $ 149

3)[?] Now Lastly this property seems to return 6.8%/annum. With say projected capital growth of approximately 5-6% annum… would you recommend to invest in this property?

4) [?] Where can I get information on Australian cities i.e population, economy etc.. is there any website that any of you would suggest?

Ladies and gentlemen, thanks a ton in advance

Gaurav