Do you still think we can get some positive cashflow properties around Melbourne or regional ?
Regonal yes do a bit of home work , Drowin has some if you look hard enough and it is still growing . Maybe look for places that have self contained units or bungalows that you can rent out seperately there are opps but you have to look hard and think a little diff.
Good Luck Cheers Rick[drummer]
Originally posted by Rick Traberg:Regonal yes do a bit of home work , Drowin has some if you look hard enough and it is still growing . Maybe look for places that have self contained units or bungalows that you can rent out seperately there are opps but you have to look hard and think a little diff.
Town = (correct spelling) DROUIN
From CBD = 86km
Average 3 bedroom home = $185,000
Average rental = $160 p/w
Not quite +CF but worth considering.IMO there aren’t +CF investments in Melbourne, IF ANY they are mostly in rural areas (some regional, but these are limited). As Rick suggested, you need to really do some serious RESEARCH, and who knows if you SEEK you just MAY FIND!!!
Cheers,
Jo
Hi Barbie
No there are no cash positive properties in Melbourne.
In Regional Victoria there is vertually none and you will find some showing 10% retruns if you buy in very remote little communities (not advised).
Droin is a great little town i spent the first 3 years of my life there but it hasn’t been cash positive for 10 years (guess). It certainly wasn’t when i was buying 5 years ago.
Regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hey Westan,
Your post prompted me to re-read mine, which clearly indicated that +CF was possible in Melb; hopefully Barbie will not have read it before I made the changes.[blush2]
Is NZ is a more feasible option for +CF Westan??? I believe such properties are becoming equally as rare as hen’s teeth in Kiwi land; is this the case??? [blink]
Cheers,
Jo
Monoploy
You no what you are right I cant spell. By the way love your forum name.
Let me tell you a story , when I was 8 years old I went to a party and all us Kids cousins 2nd cousins etc decided to play monoploy .I was the youngest and had never played before. Anyway to cut a long story short I won the game as was over the moon . I played with the hat . Still my favorate peice today. From that day on I would always play the game and would win most of the time. It just made sence . People ask me today how did I ever get into investing in property and I tell them I always loved to play monoploy . They laugh but it is the truth.The hole idea just makes sence.That is a great forum name
Any way back to forum you are right about drouin , but there is some tacky propert around there that you can get cheap do a quick lick and get about 7,8,9 % return
Cheers Rick
p.s that last post I put in I pushed the wrong botton and made a mistake I am useless with computers . Just bought my first one a couple of weeks ago.
Originally posted by Rick Traberg:
MonoployYou no what you are right I cant spell. By the way love your forum name.
Let me tell you a story , when I was 8 years old I went to a party and all us Kids cousins 2nd cousins etc decided to play monoploy .I was the youngest and had never played before. Anyway to cut a long story short I won the game as was over the moon . I played with the hat . Still my favorate peice today. From that day on I would always play the game and would win most of the time. It just made sence . People ask me today how did I ever get into investing in property and I tell them I always loved to play monoploy . They laugh but it is the truth.The hole idea just makes sence.That is a great forum nameHey Rick, don’t worry about the spelling, I only corrected you just in case Barbie decided to do a search on the net for the area, and as you probably know unless it is typed in EXACTLY right, it won’t bring up any results.[wacko]
As for your experience re getting into RE because of the love of the game “monopoly” I can relate to it only too well (although I come from parents who were hard nosed investors and us kids got it shoved down our throats whether we liked it or not; thankfully I did). Yes I love the game too, and I never owned a copy of it myself up until I was an adult; now I am the proud owner of 8 different versions of the game (and my collection is growing). It’s just too [specool]
Originally posted by Rick Traberg:
Any way back to forum you are right about drouin , but there is some tacky propert around there that you can get cheap do a quick lick and get about 7,8,9 % returnWhat a fantastic attitude!!! Seriously, it is hard to find much in the way of +CF anywhere thesedays, but I agree that with a little bit of determination and a heck of alot of research (and as you correctly point out) some hard work including for example “a lick of paint” you can maximise your returns. Good point chief!!! [thumbsupanim]
Keep up the good work; you’ll master that machine in no time….if all else fails flick the switch!!! [tongue]
Cheers,
Jo
Hi Barbie,
Have you considered commercial property???
Good luck,
Del
Monoploy
That is graet that you have 8 copys of the game , I wish I still had my first copy. We had no money so if I wanted a game would have to pay mysely .At school we had a monoploy game,so I got some card board painted and drawed all the propertys on it made my owen money, cards and figurines. I changed the name to suburbs in melbourne and stations.I use to beg everybody to play with me. It was so cool.
Cheers Rick[drummer]
Rick,
There are some fantastic PC versions of the game available; my favourite is MONOPOLY TYCOON a 3D interactive version which has different degrees of difficulty and is lots of fun.[biggrin]
Check out a few popular sites:
http://www.hasbro.com/monopoly/
http://www.albionpark.com/277.htm
http://www.gzkidzone.com/gamesell/p14406.asp
This last one will enable you to download a demo version of Monopoly Tycoon, and once you have played it, you will want to rush out a get a copy.Have fun,
Jo
P.S. You don’t have to play with yourself [blush2] the computer introduces other tycoons that will try to bankrupt you!!!
Jo
Thanks a lot will check it out. Will have to organize a game one day.
Cheers Rick
[thumbsup2]
Hi Barbie,
The essence of positive cashflow today is that they may need to be ‘made’ – an off the shelf purchase is remote.
For what it is worth I believe that any positive cashflow properties located in regional (remote) areas wouldn’t make good investments anyway.
Derek
[email protected]Property investment advice and researched property in quality locations available.
You should consider commercial property if you are looking strictly for cash flow +ve properties in Melbourne. Commercial properties can be good, but your success will depend on the success of the business which operates in your property and you have to pay GST on the purchase. However, outgoings are paid by the tenant. A shop with an apartment on top, could be a good investment.
My online investing diary: http://retireyoungandwealthy.blogspot.com/
Hi Monopoly
just to answer your question about returns in NZ, yes you are right , it is a lot harder to find properties that are showing a return ver 10%. But they are still there. Saddly its not 2003 anymore when you could drive into most cities and pick up deals showing 13%+ returns.
Personally i’ve found a new market not in Oz or NZ where i’m buying for a 25% yeild.
PS i can’t spell Drouin properly either.[blush2]
regards westanI live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Dare we ask where Westan??? [biggrin]
BTW….I vote for a “spell
chekcrecheckrechecker” too; it would make life so mucheasiiereassiereasier!!! [thumbsupanim]Cheers,
Jo
Westan it wouldnt be in niagra falls by any chance
[drummer]Hi everyone,
I am a newbie in property investing and from what I’ve found there is some areas that are good for growth or for vendor finance (definite +ve cashflow) in regional VIC (like Horsham or Traralgon)…
Cheers
johnWant to join financial independence before 31 years old, currently 25
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