I have found a property in a rural Victorian town that is 58,000 and rents at approximately, it has been on the market since before November. I believe I could get the vendor down to 50,000. town has various factors that flag it as a possibility: ie fire service, ambulance, police station, Mc Donalds, KFC… However, the department of infrastructure forcasts a population decline from now until 2021 so I am a little hesitant, should I be? Or is this what I am suppost to be looking for? Sorry if this is a stupid question but I havn’t quite stepped through the positive investment door…
Any advice would be greatly appreciately…What was the rent?
Go to all the land agents in the area and see what the rentel market is like, if ther is none arowned at the rent you wont to get ask them if thay get a lot of enquires..if ther is some arowned drive by and compare them to the one you wont to get..look at things like other homes in the street, if you can get it for 50k dont set the rent to high..
Davlyn..All can see the tactics by which I concur,none can see the strategies out of which victory has evolved…
Hi,
This sounds promising to me. Remember that good tenants exist everywhere.
Population growth is certainly a factor that I watch closely, however it pertains more to capital growth than it does to cashflow returns.
I’d like to know the rent before commenting further.
Bye
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Sorry, I was going to but the rent in. It was recently, up until a week agor $110 per week, but they just moved out because they got finance to buy their own home. It needs the lino replaced in the bathroom as it is coming up and some paint. It has a medium sized garaged with good shedding, although nothing that would fit a car. It is also in a part of town that has an unpleasant stigma attached to it… Is it worth spending a little t on it or should I keep trying to find something that people could move straight into…
etti_iv
For me i would keep looking..but only you now how you feel about it..if this is your first try to fined the right one as it can put you off if it works out bad..All can see the tactics by which I concur,none can see the strategies out of which victory has evolved…
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