Hi
I now in a position to start investing and want to know what is the best property investing course to take now. I live in Perth and I am considering two bedroom units in a 7 km radius of the city, ie Subiaco, St James , Mt Lawley in the $300k region. Can anyone suggest if this is a good strategy.Kelly Williams
Hi Kelbert,
A fairly safe approach and if your objective is long term growth then you should be fine. In saying that I would also suggest that you establish why you are investing and some timelines to help you along the way.
You will need to check your cashflow projections as rental returns in Perth are not flash at the moment and as such you will need to structure your loans correctly and to your advantage.
I would also recommend that you check availability of property within your price range as median house (not unit) prices in Subiaco and Mt Lawley, in particular, are well above your stated limit.
That is not to say they are not out there (I haven’t looked in today’s paper) but check that they do meet your chosen goals.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958
Skype – derekjones2113Hi Kelly,
I am, like you, just starting my property investing journey. I also live in Perth and looking at areas within a 10km radius. As Derek stated, the rental incomes arn’t great so there are not many properties around that come close to +CF. I am an optimist and I’m sure you will find the right property. I am also interested in any seminars that are being held over in the west but haven’t found any as yet. Good luck in your search.
Julie[thumbsupanim]
Hi Kelbert,
Just had a look through todays real estate section and noticed that $300k will struggle to buy you a 1 bed apartment in Subiaco. A quick skim over the ‘To Let’ section tells me that most purchases in Subiaco will have a lousy (and I do mean lousy) rent return.
A skim of Mt Lawley For Sale and To Let section has a similar result.
In my opinion you may be better off heading a lttle further out and maybe picking up something more standard eg villa, townhouse or house and land in suburbs around some of the satellite cities of Joondalup, Midland, Gosnells or Rockingham.
While demographics are changing and the one bed apartment market is growing I prefer something a little more ‘regular’
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958
Skype – derekjones2113Hi Derek,
I would just like to thank you for your comments on propertyinvesting.com. I have been reading the forums for a couple of weeks now and have found that you have been able to answer the questions that have been in my head (not game enough to post it on the forum) and when you are starting out you do have ALOT of questions. I was also looking in the areas around Perth CBD but found the prices high and rents low. I am very keen to purchase my first property as we have quite a bit of equity in our home (and it is burning a hole in my pocket). I will keep my search up in the areas close to the CBD but also look a bit further afield as suggested by you. Thank you again for you most valuable posts!!!!
tajee – Julie [thumbsupanim]
Hi Julie,
Thank you for those kind words – they are appreciated.
Don’t be scared to ask those questions – no doubt someone was thinking the same thing anyway and the answers you get here, while not necessarily all exactly the same, are being provided, in the main, by property investors. Surely there is no better group of people to learn from.
I would also recommend you try the forum search facility – which is located under the forums button across the top of the page. I am sure some of your ‘questions’ have been asked before but………….if not ask again.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958
Skype – derekjones2113
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