I am 24 years old. I currently have one house in my name and I have gone halves in another house with my father. The second house is zoned for units. I am renting out both houses at the moment. I would like to expand and buy another one but I am finding it extremely hard to find cheap properties which are still attractive to renters. Im sure you all have that problem to. Any house i have looked at there is about a $100 shortfall. Any ideas where I could find reletively cheap property. Any help would be greatly appreciated. I am new to this game and need some help. Thanks.
I can’t help with location; its just a matter of being in the right place at the right time but you can maximize the chances of securing a good one when it becomes available if you’re ready to go. New prop’s come on the market all the time so have your finance organized so that you can snap it up when it becomes available. We all would like to know where attractive renters are that don’t cost alot; not sure how many would share that info though…I would suggest regional areas but you won’t get great capital growth. The more research you do into what is happening in different areas the easier it will be to narrow down your search area..then just wait.
Julie
You’re new to the game but you have 2 properties? I’m jealous. Great stuff. I’m not sure if anyone can give you an answer narrowed down to a few specific areas (I sure couldn’t!), but I think Julie’s advice is best – research. I’ve read a lot about not just doing your research on the internet or in the papers, but to get out there and have a look for yourself. Not saying that the internet and papers aren’t valuable tools, but it’s true – you might find something that nobody else has found. Get out to different areas, ask questions, you’ve got nothing to lose but everything to gain.
Best of luck to you
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