Does anyone have any suggestions as to where I can find properties in Australia with a minimum of 9% rental return?
Thanks heaps[cap]
Dave
Dave,
Yoiu’d probably be flat out getting an IP in a regional city now that yields 9%, although I got one in August 2003 that has a 9% yield in a large regional city. But they’re becoming scarce.
You can probably get 9% in more country towns… mining towns… cheap properties with higher yields. Just think about what you want. Yield isn’t everything.Sometimes, cheaper properties come with a whole range of expenses- repairs, and your yield shrinks relative to your expenses.
There are a heap of investors on here that go for high yields. I am more of a 6%-8% yield person. I would rather have a smaller yield, but no repairs to my properties.
Do a check on realestate.com.au- just flick on any state and check out what’s around. Start with your own area first, and read as much as you can about RE. Finding CF+ places isn’t that hard- it just depends on if they are suitable to your own purposes.
kay henry
I know cashflow IP’s aren’t everything, but when you reach your borrowing capacity, you have to start looking for properties that the lenders will lend you money against [trigger]
I’d try selling off some of your under perfoming assets, if you have any.
Try Mt Isa, Kalgoorlie and Gladstone. But do your homework on the location, condition and demand.
Good luck
I have just been up to QLD and found some in Roma and Dalby. ended up buying 8 units in Dalby at %10 return.
Roma we did not like as its a bit far inland and has a lot of houses for sale and a transient workforce
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