I have allocated $400K to invest in next property – ideally we like a buy in of less than $300K to renovate & hold… where? We would like to build/renovate for rental & most importantly capital growth. I'm open to suggest anywhere in the triangle from say Brisbane , Sunshine Coast, Gympie and out to Toowoomba…. ideas?
SoS,
What type of returns are you looking for with your buy and hold?
Have you ever considered investing a small portion of that allocated money in a property in the USA?
Speaking from my own experience, for $30,000 in a Michigan Suburb you can net around $500/mo after taxes and insurance (rent somewhere between $800-900), with potential for capital gains in the future.
Just a thought.
Take care,
Dan
Hi Dan
Big difference in Australia you can borrow 95% of the purchase price in most suburbs so make your return on OPM.
In Michigan you can borrow diddly squat.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
That is true about not being able to borrow in Michigan – the banks are extremely tight right now.
What are investors netting in Australia with borrowed money, based on the purchase price, and rents in Australia?
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