Hi All,
I am looking at a regional area of NSW where i have noticed there are some land developments going on there. Median house price in this town is $196k….
I have had a look at a few properties there.
There are some 3 bedders (fibro, on 1000sqm blocks) for under $100K in this town currently that are positive cash flow.
about 8% ROI. there are also 1 or 2 brick 3 bedders for $100k or $110k, positive cash flow on big blocks.What do you think the impact of the new subdivisions would be on these older style houses on big blocks? If i could pick up an older style house near the new subdivisions would this be beneficial or would it be bad because the newer houses really point out the 'ugly duckling' house in the street?? i need to do some further research in to why there are new housing estates going up there, i havent read about any new infrastructure etc… no extention to hospital or new train lines…
I had the thought of buying one of these ugly ducklings, holding for 12 months then subdividing the block depending on the uptake of the new housing estates..
Thoughts on my findings?
Amanda
Check to make sure that the population is growing, talk to the local real estate agents to get info regarding current vacancy rates as well as demand for houses in the area that you are looking at with the facilities they have. IE, What demand is there for a 3 bedroom one bathroom house with a carport in street XYZ?
They will be able to give you an idea as to whether this street or area of town is in demand, whether it is harder to rent, tenants are problematic or whether this area is popular and problem free.cheers
Sonya
Hi goldies,
Where abouts are you looking at investing in Regional NSW? I live in Regional NSW so depending on where your looking to invest I may be able to help.
You can PM me if you prefer.
Jacqui
You must be logged in to reply to this topic. If you don't have an account, you can register here.
