Hi guys,
Looking at property in regional Western Australia. Its positive geared, needs a little work and is located in a Homeswest area of the town, but is walking distance to schools/shops. Has anyone bought in a homeswest area before and had any bad experiences? The agent assures me that renting it wouldn’t be a problem and that its a good little street as there are known areas of the town that are not so good! Would like to see SOME capital growth in the house eventually but for now intend on buy/hold for passive income. Is there any way for me to find out more about the area? I would appreciate any advice or tips! Thanks[
] SQI own a fair bit of stuff in government assisted housing areas, but none in WA. While I find as a rule the vacancy and rentablity of the properties may not be as good as the same property in a non-government assisted area, the price/cash flow often makes up for it.
I think most of the time, if you use a little common sense, and have a look at the area, you will know if you are comfortable with it or not. I once looked at a property in a government area of SA, saw it on the net and had the agent hold it until I got there (coming from Melbourne). When I got there I didn’t even feel safe in the neighborhood, graffiti everywhere, kids playing in the dirt in the street, cars on blocks. I told the agent I can’t own a property in an area that I don’t feel safe stopping my car.
If the area seems reasonably safe and clean, even if all the lawns aren’t prefect, then I think you’re pretty safe. If you are a long term investor, the growth will be there too.
Slum Lord
] SQ
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