Hi all,
I live in a regional city with pop 23,000 people but unfortunatly the towns growth is marginal.
Also the median house price is around the $200k mark!
I am now beginning to believe that this is not the right town to be investing in real estate.
Please, I ask if anyone could help me with information on the best ways to research possible outlying towns to invest in, what to look for (reading 0-130 so have some idea[book]), maybe internet sites that will supply me with information on towns eg economic growth?
ANYTHING?……..thankyou![thumbsupanim]
-Blondie[upsidedown]
Newbie comin through!
Com’ on BB, you’ve been around the forum a while now you know the answers … me thinks you are sitting on your hands. Or maybe your feet!
This question is asked a lot and the answers are always the same … you have to walk the pavement and talk to the agents to find the gems.
I ask you what is your criteria and if you feel your town is not the place to invest do you want to tell us where you are!
BB from the posts you have made I know you are a smart cookie, but when you get to a point where you are dead set serious you’ll fall over deals all the time because they are there when you go “OUT” and look.
Good luck and keep us posted.
Cheers
Leigh K[biggrin]I am a newbie to the whole idea of investing and I agree with Bec…it is very difficult to know where to start and where to look to do the work and get the research done.
TIP- Start with “Google” ,and, the Government ‘can’ be helpfull[king]
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Well, I live in Mount Gambier in South Australia and I work for Ray White Real Estate so I am an agent.
Yes there are a few diamonds in the rough here in the mount but if I am looking for financial independence it’s not going to come from two or three diamonds I am going to need a whole mine of them….. hence my question how do I research and what do I need to look for in particular?Cheers,
Blondie[hair2]Newbie comin through!
I think maybe you could change your stratergy a bit if there are know cash +ve and you want to invest in your area. then try looking at undervalued houses like morgagee sales ect and try to renovate them until you built up a bank.
Just an idea hope it helps
regards
Brett
“Those who say it can’t be done are being passed by the ones doing it.”
Hi Blondie,
If there are two or three diamonds available right now, start buying (or pass them to on me!)! Every one you buy will bring you that much closer to your goal. If you suddenly came across a town with 100 good properties, could you seriously buy them all at once? If your finding CF+ properties in the second biggest city in the state (isn’t it a bit bigger than 23,000?) then I think you’re doing well. I assume you are looking for CF+, otherwise, I think you’re right, now is not the best time to buy for CG.
Mattdo what most people hate to do.
go thru the fine print of the real estate pages of the sunday times etc.
there is stacks of deals.
then get on the phone and ask questions particulary the numbers.Bec… umm… you said:
Well, I live in Mount Gambier in South Australia and I work for Ray White Real Estate so I am an agent.
Yes there are a few diamonds in the rough here in the mount but if I am looking for financial independence it’s not going to come from two or three diamonds I am going to need a whole mine of them….. hence my question how do I research and what do I need to look for in particular?Cheers,
BlondieBec, you’re an AGENT! Surely, with all due respect, you’d know how to do some property research. Wouldn’t you have your hands on recent sales all over the place, and the kinds of stuff mere mortals like me only dream of? Wouldn’t you and other agents whisper about deals in Australia in the office? I just don’t understand- real estate is your niche, your bread and butter. Agents are probably some of the best-informed citizens to know about all aspects of RE.
kay henry
Originally posted by kay henry:Bec… umm… you said:
Well, I live in Mount Gambier in South Australia and I work for Ray White Real Estate so I am an agent.
Yes there are a few diamonds in the rough here in the mount but if I am looking for financial independence it’s not going to come from two or three diamonds I am going to need a whole mine of them….. hence my question how do I research and what do I need to look for in particular?Cheers,
BlondieBec, you’re an AGENT! Surely, with all due respect, you’d know how to do some property research. Wouldn’t you have your hands on recent sales all over the place, and the kinds of stuff mere mortals like me only dream of? Wouldn’t you and other agents whisper about deals in Australia in the office? I just don’t understand- real estate is your niche, your bread and butter. Agents are probably some of the best-informed citizens to know about all aspects of RE.
kay henry
“ditto” KAY, and you thought Agents knew all the tricks..
“Money is a currency, like electricity and it requires momentum to make it Effective”
I am only a trainee at this stage and I will be finished my training in July. We can only get specific information on properties (Yes, the additional information I can access is helpful!)
BUT it does not help the fact that Mount Gambier is possibly not a place where I will be able to purchase my CF+ve IP’s.
So it is suggested that I look up all houses in other towns and research all their background?????……. isn’t that the hard way and the exceptionally long way?????
I believe that if I am looking to invest in another town I need to research it…. all I am asking is that someone give me some guidance as to where to start…..Yes I have tried myself and can’t seem to find what I am looking for![evil5]
-Blondie
[cowboy]You’ll never know if you don’t give it a go!
Originally posted by blondie_bec:So it is suggested that I look up all houses in other towns and research all their background?????……. isn’t that the hard way and the exceptionally long way?????
Unfortunately Blondy-bec, I don’t know superfast and easy way; if I knew I’d be famous[biggrin].
Yes for every town (and every house that you’d consider buying) you have to do lots of research.Blondie-bec..
Are you part of a large R/E group ??If so contact other agents within your organisation.
As I said before ‘google’ your request’s..i.e – type in Adelaide population trends, then have a look at economic and associated trends, property prices and rentals in the areas…
If it was as easy as just buying + Geared properties I’d be Catching up to Still-in -School ( ha ha .. not really ), seriously, you do have to research and buy well, for your piece of mind also..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Bec i suggest u do your research as I know people investing near mount gambier and finding many +ve properties. I also find them from time to time on the net. I cant help wonder why your not finding any being an agent in the area.
Regards Bear
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DONT MISS OUT!!!!!I think that a part of my problem is that I am using the 11 second solution for a filtering tool and its just filtering them all out!!! LOL[lmao]
For example there is a set of two flats for sale at the mo for $52,500ea. They are joined to others which makes major reno’s a problem and it looks like the roof is a bit shabby. Only one bedroom units and are currently tennanted at $75 per week. With the roof repairs and only being one bedroom I can see nothing but negatives….! Plus applying the 11 second solution definitely makes it a negative…. am I looking at this in the wrong way perhaps???
-Blondie[cowboy]
You’ll never know if you don’t give it a go!
Originally posted by blondie_bec:Well, I live in Mount Gambier in South Australia and I work for Ray White Real Estate so I am an agent.
Yes there are a few diamonds in the rough here in the mount but if I am looking for financial independence it’s not going to come from two or three diamonds I am going to need a whole mine of them….. hence my question how do I research and what do I need to look for in particular?Cheers,
Blondie[hair2]Newbie comin through!
I did the search for sale in Mount Gambier and found one +ve cash flow property listed by Ray White Real Estate.
You better check that out! Look harder it is at your door steps.
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]UUUmmmmmmm…… you sure it was Ray White Mount Gambier because we have only been open for about three months and only have a few listings……. pretty sure none of them are +ve CF.
?????[eh]
-Blondie[cowboy]
You’ll never know if you don’t give it a go!
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