I need help and I may be in the same boat as many others. I am based in Melbourne and have been searching endlessly day & night for an Investment propertyon the internet. My focus has been Tasmania. I have set 3 key parameters which I think is fair:
> property should be built after July 2001 to attract depreciation benefits
> property should return a positive cash flow (rental> loan repayments)
> property should be in a reasonable to good area for capital growth (not too far from major cities)I want to spend upto $200K and I know in Tassie I can. I am however open to Qld & maybe WA.
My frustration is what is the best way to identify the upcoming hotspots around the nation with so many suburbs to choose from?
I know I need to investigate where local council is spending on infrastructure development – but HOW do I investigate this for each city? Is there a single publication that covers all m ajor cities??
Also, I can’t be expected to fly around the country every time I see a house on the net – so how do people do it??60 Minutes a few weeks ago ran a segment on Tasmania saying it was a gem – particularly NW & East coast – Does anyone out there have any suggestions about which suburbs I should investigate in Tassie? The Australian Property Investor magazine make their suggestions – is it good to rely on their speculations? Cooloongup in WA they say is a potential hot spot.[?]
Thanks
Cam [email protected]Striker
Email MeJames,
Have you tried Residex, they publish reports on cities and major towns, I think mainly on the eastern seaboard. The reports shown the rentail yield and estimated capital growth for say the next 5 years.
Hope this helps
regards
Gavin
Hi James,
I’d also start buying “Australian Property Investor” Magazine – it’s about $7.95.
It identifies hotspots etc.Tassie is red hot, but from what I believe, unless you are there in person, the good properties are being sold by the end of the day. I spoke to an agent there recently, and he said that RE Agents have BIG lists of buyers, and not much is being advertised. Perhaps make contact with one or two good agents there, and KEEP IN CONTACT with them every few days.
Good luck,
Del
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