This one has probably come up a thousand times from new people to this game!! I live in Queensland and hoped to invest in Qld for convenience. I have spent days and weeks searching records, real estate sites etc etc and convinced there is no such thing as a Positive Cash Flow property here. It appears on the coast, it is relative to the cost of the property. 180,000 is about 180 p/w rent and inland is worse. We don’t appear to have the cheapies here either – under the 100,000 unless they are falling down around your ears. I think I am missing something!! I am prepared to look at any state, are there some better than others??
I probably need to clarify this – I have found some but one criteria they all appear to fall short of if the population of 10000 or more. Is this critical for investing??
I would appreciate any feedback.
Hi Wizard
Not sure which part of Qld you are looking in but we have acquired 8 properties in the last month on Qld all of which with a little bit of renovation work will be cash flow +.
One includes a block of land which we purchased for $31500 have a removal home being put on it and fully renovated probably will cost in total $120,000 and expect to get $250 – $280K for it on completion.
Another was a property which we purchased for $72,000 which is on 4 lots all of 640 square metres. Subdivision will cost around $4000 and the then to move a house onto the block maybe another $50K. Not bad considering the land cost nothing and H & L package probably worth around $80K / site.
I promise they are there you just have to keep searching.
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Great post Richard. Inspirational for all to glean off. [thumbsupanim]
Wizard7001, instead of answering the question “Where are they”….perhaps I can confirm where they are not – if that narrows your search down somewhat – that is straight off the shelf, no work to do, ready to be plucked off from some great long list of any internet RE page.
Rule that option out, and then start your search again…it’ll be a lot quicker.
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