Hi guys,
im looking to buy another investment property in the next few months. I wanted something under $100,000 because i am just starting out. Where would be a good place to invest? i was looking at some places such as queenstown in Tasmania, which has many properties under 70K but not sure what the potential in this area will be like. As well just wondering cause ive been reading some of the other forums, if property investment in australia is still worth it with house prices increasing so much but wages staying about the same.have you read any of steve’s books yet??
You may find that the high land tax in Tasmania makes it difficult to achieve positive cashflow.
However, this does not mean the rest of Australia is not a smart place to invest. As for wages staying the same while house prices are soaring, that is not necessarily a bad thing. It possibly means that with many people driven away from buying due to the expensive market, the demand on rental property will increase, leading to increased rent prices. This will also mean that there is less risk of your property being vacant for long periods of time. Have you read any of Steves books? I highly recommend them!yeah im reading through Steve’s “from 0 to 260 Properties”. However in terms of finding properties under 100K, i havent come across this information yet.
So is anyone able to tell me areas worthwhile for under 100k ?
of course. Stay out of the major cities. Maybe try looking for some larger country towns. I am from NSW, and I have come across properties that have great returns and are under $100,000 in many different areas, including Broken Hill, Dubbo, Bathurst and Armidale. I dont think there is any particular area that is good to invest. You just have to shop around within the area.
what is considered a large country town in terms of pop size?
Safe to stick to 15,000 or above permanent population and/or increasing pop growth, you can usually find this out by checking the local council. Having said that, people have found properties in that price range that are cash flow positive in smaller towns. I think for a novice though you may want to minimize your risk, so go with bigger towns. Also make sure you check the vacancy rates re: Tassie as you can be without tenants for long periods in some areas.
TracyTD
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