Hello all,
Help needed were looking at the moment in regional areas of South Australia, eg: Murray Bridge, Taliem Bend in the south east and north about approx 150km out from Adelaide. Does anyone know or could they direct me to what the areas are like as in rental and pop. growth as I’m original from Vic..
Also I had an idea that may help some of you investors, we have a 37 acre property (land) near Bendigo, we only paid $32,000, 5 years ago land now valuated at 95,000, didn’t know what to do with it, we even decided to sell the land, and put the money into something else, but we had another thought, we are now placing a secondhand 1920’s style home pulled up from Carlton Vic, where it has now been placed on the property, this cost me a total of 80,000 complete, total now spent 112,000 the property is now valued at 280,000 which if sold would make a nice profit of 168,000, but the property is rented now at 165 p/w, giving a positive cash flow. What I’m trying to get at is, don’t just look at cheap property for rental returns, you can attempt the longer project, approx 3 months to complete from start to finish before a tenant is in the home. Hard work but the end results are fantastic.
The purchase of the home with new colourbond roof, stumps, relocating of the home total 55,000, reno 20,000 paint, carpet etc and fees and charges 5,000 approx.
So look at all angles when investing, also very important the homework and have fun!!
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