Hi, I have a pre-approved loan to approx $750k and am looking to enter the WA (Perth) market. Prices in Perth at present seem far too inflated and positve cashflow properties non-existant. I have been looking to the Pilbara region where rental returns have been fueled to amazing levels by the mining boom however prices are running at an average $500k so I am not sure how much capital appreciation is left in the next few years. Is it too hard to buy a rental property in Melbourne and Sydney and manage from Perth?
Any thoughts would be much appreciated.
Kind Regards
PD
article in todays sunday times quotes gavin hegney as saying the boom is about to take off again and we are in a temporary lull… worth reading
pgdavidson wrote:Is it too hard to buy a rental property in Melbourne and Sydney and manage from Perth?
Any thoughts would be much appreciated. Kind Regards PDPD, I'm in Sydney and do not own any investment properties in this state, they are all in QLD and WA. You do not need to manage a property yourself, you pay someone else to do that. Trying to manage a property in the Pilbara region would be just as hard as Sydney if you live in Perth. So the answer is no, it's not hard to manage a property interstate if you pay a property manager to do it for you.
Population is increasing the most in Brisbane and Perth so that's where I'd be looking. Maybe you need to do more research.
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