Just wanting to understand the prevalence of people investing in regions/states/countries that are outside of where they live and possibly why
Personally I live in Melbourne, have IP’s in Melbourne & Qld (Gold Coast) and chose the sunshine state because of the strong market there and indications that it should continue for a little while longer than the southern states.
James
We live in Sydney and have 1 in Sydney(Cremorne) and 1 in Brisbane(New Farm). Sydney because of CG(bought 2 yrs ago), Brisbane same reason (bought 3 yrs ago)although a much smaller scale. Currently negotiating on 1 in rural area for +ve CF purposes. I don’t expect much CG but the yield is pretty high.
‘Eat rich food, barbeque a yuppie’
None of the properties I’m sourcing at the moment are from my home town. Sydney is a very hard city to find +ve cashflow properties (I will never say that it is impossible, nothing is[}
]) and for those looking to purchase in Sydney for CG we were the lowest in growth last year and are predicted to be this year. I’m finding good yields about 3-5 hours out of Sydney and in other states.[]I agree Alexander, if I looked at what our Cremorne IP is worth and the rental yield we get, I would not touch it. 2 years ago it was a different story, but I think it has increased in value by close to $200K.
‘Eat rich food, barbeque a yuppie’
Easy – can’t afford and/or returns are unsatisfactory where they live.
The only reason I don’t invest in local anymore because the price is too high and now they all NCFP.
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]Up until recently, all of our IP’s were in Sydney, where we live. However, since I have given up work we decided we would make our next few cash flow positive, therefore our latest one is in Queensland, and we will probably continue to buy in regional areas for a couple of years.
Cheers,
Karen[]Just to add a bit more, currently I am looking in SA. I am living in Sydney.
Warm Regards
ChanDollars
[Keep going, you’re on your way to Frolic Freedom!]Really, if the numbers add up, you have done your checks, then it shouldn’t matter where you are in relation to your IP’s. However, for peace of mind, it’s nice to be able to have them close by. Especially in the early stages of investing.
James
]) and for those looking to purchase in Sydney for CG we were the lowest in growth last year and are predicted to be this year. I’m finding good yields about 3-5 hours out of Sydney and in other states.[
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