Hi everyone,
I need help deciding on where to buy good positive cash flow properties. I have been looking at Port Pirie in SA and also Cairns in QLD.
Someone told me that Cairns has a glut of 4 bedroom houses but units will still deliver a good return.
In Port Pirie you can buy a 3 bedroom house for under $100000.00
Does any body have any advise as the numbers seem to stack up at least?
bkpenta.While the numbers may stack up, growth in some of these regional areas may have already run its race. I have friends who have down quite well from buying units and houses in Cairns, but that was a couple of years ago. I wouldn’t expect that these areas will increase significantly over the coming years. Whether you invest or not i guess depends on if you have a short to long term focus.
Eric
Thanks for the advise. I do have a long term view to hold so hopefully these areas will grow in the long term and in the meantime the cash flow should remain good.
bkpentaIf you want to find further information on the regional town or city you could also search for information on future business development.
For example: If you know that a big corporation or government department is investing in the area, then obviously jobs will be created. People are needed to fill the jobs, and those very people need houses to live in.
As for what people say, always ACT ON FACT. So if one person told you that Queensland won’t experience any further growth and you’re wasting your money by investing there, I would ask myself what information they are basing their ipinion on. They may be correct, but they may also have no idea what they are talking about…
So if the numbers work, and you are happy that this investment is good for you, then all you have to do is GO FOR IT!!
Learn, Love, Strive. Make a difference!
Thanks Buzzwells
Very true and sound advise. Research is the key.
bkpentaHi all
bkpenta, i think you should do some figures on the Port Pirie property, from my limited knowledge of the place therentals would not make a $100,000 property cash positive. Also check out about the future of the old pasminco smelter there, and about asbestos risks.
from purely as cash flow situation i don’t think Port pirie will make you money tyherefore you will need to see capital growth to make money and this is unlikely in the near future i would think.
Cairns is a totally different situation. Expected population growth, tourism growth etc. Interesting about your comments regarding vacancies, In 2003 i found that units were slow to rent when i was investigating Cairns.regards westan
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Thanks Westan
I will look further into both areas
bkpenta
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