Hi there I have been spending alot of time reading through these forums to find as much information about these 2 areas to purchase an IP. I have a few questions which I couldn't find any direct answers or opinions for so here goes!
I am having trouble finding vacancy rates for either suburb, I found an article stating that in march 2010 Bendigo was sitting under 0.7% vacancy rates obviously making it attractive for investors in the area and giving them leverage to justify higher rental rates. On the flipside I cant find any information about Mildura's vacancy rates, I have spoken to a few real estate agents in the area and they assure me of being under 2% - 3%. I don't believe entirely what they say until I see the facts and figures.
My budget is under the $230k mark, but I would prefer to stay under $200k. With that Mildura seems to be more attractive but because I'm from Melbourne I would feel a lot more comfortable having a property in Bendigo being an hour and a half away so basic repairs and updates can be done by myself on the turnover of tenants.
If anyone does own property in these areas a bit of knowledge would be greatly appreciated also!
I did have a few more questions but I've totally gone blank! When it comes to me i'll add to the post.