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Hi Simone,
you are right that it is extremely difficult to find positive cashflow properties in Melbourne now days, but you would be surprised on how many realy do exist… you may be saying what is he on about?
Well, you need to buy properties that have potential (structurely sound) & you can turn them around from negatively geared properties to positively geared… you may ask how? well if you buy property that you can add make some cosmetic changes to, both increasing its property value (gaining a quick equity boost) & secondly to increase the rent received. This can be done in terms of renovations, ie. a quick paint job (which you can do on your own using colours that match the style of home), polish the floorboards (ripping out the smelly carpet), re-grout or paint the bath tiles, do up the garden a little & mulch up (pop in a couple of plants), etc… You would surprised how many homes that you find that are negatively geared (on the market) can have such a transformation, giving you that positive cashflow…
Cheers,
Manny.
