Just a question, do you think that properties in small towns with a population of under 5000 would be harder to finance than IPs in bigger towns?
Cheers Celivia
do you think that properties in small towns with a population of under 5000 would be harder to finance than IPs in bigger towns?
Cheers Celiviadepends on how far away from a larger town it is!
It also depends on the population movement in that town
It can also depend on the bankNot much help sorry
Bronwen
If the good die young then I will live forever
Hi Guys,
I don’t think that everyone should discount the city areas entirely, as i think that you just need to look a little harder to find the bargins. Eg. I have found 2 commercials in the past few weeks (both of which have not been advertised), that you could buy for less than $190K and were returning $440.00pw rent with most outgoings paid by the tenant. Unfortunately I could not take advantage of these as the 30% deposit was a little too much capital fo me to tie up in one property. [8D]
Hi Azrael.
Your right about not discounting the city altogether, there are some bargins to be had if you look.
I would be interested to know, since you mentioned commercial properties. Has anyone found that most banks will only lend $ for commercial properties over 10 years. This ofcourse drematically decreasses the amount of properties that would otherwise be + cash flow.
regards
craigcI noticed that Agent 007 posted a comment about agents disclosing opportunities involving “motivated vendors”. If I was selling, I would not use an agent that is so unethical as to disclose my personal circumstances. Is it any wonder that real estate agents have such bad reputations?
hello
at the end of the day steve started his life in a town ..
im a newbie and i cant start of in the cities so ill start of small .
iguess the lower the price the easier it is to get a 11 sec rule .
ive been searching all night online and found a lot of 11 rule in rural and small towns ive tried in the bigger town but not relly looking hard enough anyway i just wanted to say ive lived in smalll towns before and the locals usually stay there for yeeeeearss escpicallt when they have a community kindy to year 12 school ..
thank you
thomasi will own my piece of australia
Polar_Bear,
You mentioned ABS as a source for population details.
When I attempted to d/l information from their site they were charging $10 for each report.
Is there another area I missed???Cheers…..Doug
Hi Dirk,
Here is the link to the ABS website for free stats … enjoy [8D]
Cheers,
Jay
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You must stay pOsitive
…then the cAsHfl0w will come!
**********************************Thanks Jay….
>>because many people keep telling me this is high risk, hard to find tenants, low CG etc.<<
You later added another reason : ‘hard to get finance’.
These are all valid enough reasons to be selective.
I agree that there is nothing wrong with buying in smaller towns as long as one is aware of the risks AND is prepared to live with the possible consquences of not having the kind of protection rules in place which would have kept one out of a particular town.
It is a bit like the fact that some people have fire insurance and others don’t bother.
Fair enough and, after all, insurance isn’t really needed ………….. until such time as there is a fire.The same applies to ignoring protection rules when looking for an investment property.
As long as one can find suitable properties in better (i.e. larger) towns why bother to look for an investment with more possible risks attached ?
Remember, one badly chosen deal can cause havoc to one’s investment plans and set one back several years.
Pisces133
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