IS there anywhere you would not invest because your impression is there are many bad tenants in the area?
Well, no offence it someone lives there, but as far as Geelong is concerned, I wouldnt touch Corio or Norlane with a 50 foot barge pole, too many scum bags burning down houses and raping/killing etc. bad areas LOL, cheap houses though 148 grand I saw one for on the weekend, not for me though. I wouldnt even want to go round there with the kids to do reno work in those parts, bad enough visiting the relations who are to tight to move somewhere else!
I had a bad tenant once who was a single, middle-aged working (nurse) mum with two younger boys. Good results from the credit check and references.
It was in Mentone, in a brand new, high quality townhouse etc. great area, great property, high rent – so, on paper, the combination of location, rent level, standard of property should produce a relatively troubl-free investment. But there is no guarantee the tenant will be any good. She was a nightmare to the other people in the complex (only 4 townhouses), regularly late with payments.
On the flip side, I also have great tenants in one of our units in Frankston, who are both studying and working; not a lot of dough I'm tipping, and have never had a problem or a missed rent payment.
All you can do is screen each tenant as best you can and hope they are ok. Even bad areas have nice people who need a place to live.
But if you are looking to invest in an area that has potential trouble, the rent returns would want to be very good to offset the risk I reckon.
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