Do people think that Townsville is still going through the boom? have recently purchased property but negatively geared, am wondering if I should sell and look outside of Townsville for a positive cash flow? At the moment am mortgaged to max. for this property, thus am wondering if it is worth sticking it out for a while or easing the pressure and looking for postive cash flow properties elsewhere. Any suggestions?
Hi Pumpkin – we live in Townsville so we watch the market pretty carefully as most of our investments are here. Can’t advise you on whether to sell or not but Townsville still seems to be going well. Some ads in the paper show “Reduced to…..” but there aren’t that many. We haven’t been actively buying lately so can’t give you a definite answer. You might have trouble finding cashflow positive properties elsewhere in the current market and you need to factor in your selling costs as well.
Your best bet might be to phone a few local RE agents.
Shirley
Thanks very much for that. Good to hear confidence in the market still. Will suss it out with a few real estate agents though perhaps as well. Thank you!
Lara Hansen
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