We were just about to buy our first ip in Ballarat as a negitive geared investment, when i bought steves book and read it in two days , just couldn’t put it down, Luckily before we signed, we realised that this is not the way to go.
But my question is that we have looked and looked and cannot find anywhere around ballarat that would come even close to a positive cash flow. Also talking to a friend in rentals he told me that there is an abundance of rentals at the moment. So does anyone have any suggestions. We were all hyped up to start our little venture and now feel that there is no point.kylie
Hi Kylie,
I suspect you are on the tail end of the stampede into Ballarat with large numbers of would be investors already in Ballarat and wanting to follow Steve’s lead.
As more and more investors are lured into cashflow dollar they are having to look further and further afield. Some investors have established relationships with real estate agents in their chosen localities and the only solution is hard work and application. Unfortunately there is no substitute for hard work and extensive research.
Good luck on the chase.
Derek
[email protected]Originally posted by kylie:We were just about to buy our first ip in Ballarat as a negitive geared investment, when i bought steves book and read it in two days , just couldn’t put it down, Luckily before we signed, we realised that this is not the way to go.
But my question is that we have looked and looked and cannot find anywhere around ballarat that would come even close to a positive cash flow. Also talking to a friend in rentals he told me that there is an abundance of rentals at the moment. So does anyone have any suggestions. We were all hyped up to start our little venture and now feel that there is no point.kylie
I guess if you can not find any +ve cash flow property in Ballarat then look at some where else. May be try different state.
Do a general search in such as realestate.com.au or domain.com.au for the state that you are interested in and the price range that you want!
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]thankyou for your advice, but even after much research and reading, I find it hard to beleive that there is property out there that you can buy for eg $120,000 and get over $190 a week in rent. And this is anywhere. In Ballarat it seems to go more on what the property is worth minus the three zeros. eg $190,000 would make $190 a week in rent. which would certainly not pay for your expenses. I feel like anyone going into investing now has missed the boat.. Is anyone still in 2004 able to find these properties. Please help with any suggestions.
kylie
Hi Kylie,
Firstly, welcome!
As a newbie also, and after reading Steve’s book, I have been looking around different regional areas (including Ballarat – I came up with the same result as you) for +ve cash flow properties.
I have found the major regional towns in Vic. have also enjoyed a certain amount of the property boom, so you may need to look a little way outside the town to the ‘burbs.
Although I have not bought yet, I have found a couple of properties that may add up, or may be very close.I think that, given the current market prices for a reasonable property, if the numbers on a good property don’t quite add up to +ve cash flow, maybe we need to be a little flexible and do the -ve thing for a little time, whilst turning the property into the +ve as quickly as possible.
Just my thoughts, maybe some more experienced people may like to comment.
Good Hunting
Fixit“Good enough is NOT good enough”
Hey there!
I am from Vic too!
I was having the same problem limiting myself to a certain area, then i opened my eyes and looked around. I started in December and now have 3 properties in Queensland, one bought the regular way and 2 bought low or no cash down, i got to do this as i met some great people at a conference who are swictched on and brighter than the sun.
I am finding properties, some that i cant buy, but are great deals, some i want partners to go in with and some, well i am happy for others to make money. The area i am looking at has massive growth opportunities and is exploding in every way. If you are interested in looking at some of these deals or talking about it all, feel free to e mail me!
You must be logged in to reply to this topic. If you don't have an account, you can register here.
