What are your favorite suburbs for investing ? Where are the prices lowest and the returns the best?
Lets make a list of towns here
!I like Nimbin, Blue Knob, Lismore, NSW and MtIsa in QLD.
“I love 100’s & 1000’s”
For this to be of any value could you list the reasons why you like those places?
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Not a problem:
Nimbin is increasing constantly in popularity with tourists as the Hemp town (Increased population, means need for housing)
Blue Knob as above
Mt Isapropertys are so economically priced that i do not believe you could go wrong investing here.Id like to hear your suggestions and opinions also
“I love 100’s & 1000’s”
Mt Isa is good for cashflow but it’s future is linked to one industry – I wouldn’t be too keen on it for a CG prospect. Is also not so popular with the banks.
Blue Knob is a place I have never heard of.
But Nimbin is certainly in a nice part of Australia – long time since I was there tho.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I was in Balina recently and read an article in the local paper where locals in Nimbin were complaining about increases in the amount of violence from the low quality people that are moving into the area. Not the hippies that it is famous for but peope using and selling harder drugs.
I know Lismore quite well and it is definately cheap compared to the coastal towns in the area.
It’s very easy to ‘go wrong’ in Mt Isa. We’ve got some clients who have done just that. It’s a town that is fairly spread out. As you’d expect, there are good places to invest and lousy ones. I’ve got QS who travels there for us (to do Tax Depreciation Schedule work). According to him: ‘When the mine is doing well, the town does well.’ Rents are good, but the tenants can be transient.
Tax Depreciation Schedules
Australia wide service
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http://www.depreciator.com.auImmortality,
Try out a few places in NSW like, Orange, Dubbo, Bathurst. These places you can find some goodins, but its mostly the satalite towns that you will find the best bargains. People love these areas so their more than likely to stay for more than a year or two. Not bad vacancy rates.
Broome
Do you want to be paid when people pay their telephone bills.
http://www.homebizleaders.com/4537I was sort of getting the impression from Steve’s books – that the whole point was NOT about location?
Rather, the deals are everywhere just as long as you looked for them..
(heh – easy for me to say though I guess… just starting out [blush2][blush2]
Originally posted by DamianHartin:I was sort of getting the impression from Steve’s books – that the whole point was NOT about location?
Hi Damian,
Steve’s first book focussed on cashflow and also mentions a number of critical criteria that identified ‘Ballarat’ as being a suitable invetsment for Steve at the time. These attributes are listed on 36-40.
Just because something is cashflow positive doesn’t naturally mean it is a ‘good investment’ – there are other factors to consider.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
oh I agree entirely, but I interpreted the point wasn’t so much about ‘Balarat’ being the place to invest – rather Balarat represented the right oppurtunities at that point in time.
Depending again on you particular strategy..
hence – it’s not realy about location – more about problem solving
I have recently found that towns in the mid north of SA are very interesting. I have particularly looked at Peterborough. I have spoken at length with a real estate agent as well as the locals there and discussed the immense shortage of rental properties. People there are prepared to pay a slightly inflated price for rent. CG is also still going well. Cost of houses are alos good, you are quite easily able to find a decent 3br home in a good area for around $75,000 – $85,000, even less if you are a bit of a handyman and wish to renovate a bit.
Might be worth checking out. To me it sounds promising.I agree. Anywhere can be CF+ve. even Sydney, in the blue chip suburbs, I’ve seen ‘potential’ CF+ve…just like it says in the steve book #2. believe it or not. it’s all about how you put together the deal. For example, a 12 bedroom mansion within 4k of the city near popular tourist and local amenities might not be CF+ve as a family home or whatever, as is, but to spend some money putting a shared bathroom in and turning it into a boarding house, fully occupied, perhaps even furnished, would be very much so CF+ve.
joy to the world
Well this has been a lot of wonderful advice and i have certainly looked at everyones great suggestions and will be going to have a look at properties in Peterborough as suggested above. I have got a postcode analysis in the way hope it helps me a little as well.
“I love 100’s & 1000’s”
Thanks guys for the the great information this is my first time on the forum and I wish I had been here earlier. I have seen some good deals in rural Victoria such as Mildura but I think it wont last for long. Just missed a house for $90,000 in the middle of town that would of rented for about $170
Western Sydney.
250,000 house i rent for 335 per week, i brought in feb when prices where lil higher than now. Orbital near by, got high prospects for growth. it is almost netural cashflow.
!
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