Hi All
I was wondering if anyone has found a +CF property in W.A. I have searched the net, tried alot of RE agents up and down the coast, but when using formula for P+I loan repayments compared to rent being paid the figures always seem to come up short. Am I applying these repayments correctly or am I doing something basically wrong.
Look forward to any comments/suggestions on +CF in W.a.
FITZ
p.s. Have been looking for properties up to the 130K mark, but even using the 11 second solution none get even remotely close
Where are you looking then ?
Maybe not far enough from the city..
Redwing
PS- the real estate sites are only one way tofind these properties..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI read a post from ActToday purchased 5 properties in Armadale (only $23 negative geared per month).
Dont know anything about Orelia, Medina but cheap areas might be worth a look in.Also Redwing right try regional centres. Elder RE they deal with regional properties.[biggrin]
Thanx for your responses guys.
Redwing, I have done a fair bit of research in the north real estate markets but still no joy.
Marisa, ACT Today has done well but negative gearing isn’t the way I was trying to go (even if it is only $23/month)
This one was on the web for quite a few weeks, but is now under offer…
Karratha, Mt Magnet etc had some a while back, even some units etc in Broome.
Don’t know about now
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorNot always easy to find on the net, sometimes you need to do the km’s to find them too.
Or if you find an area that seems close then ring the local newsagent and get the local paper sent to you, the local paper aften shows the cheaper the homes that aren’t always put on the net. And it shows the “To Let” ad’s so you get a better idea of the going rental rates.
Good Luck
PKHaving just got back from Karratha, this is one place that can’t get enough of housing for the amount of work that is happening.
Geraldton is cheap as well at the moment and probably just waiting for some secure power (read gas line) passing through the area to rejuvenate the industrial park planned in the area.
Joe
JV
with + gearing IP’s you may have to find one or two places you like and feel comfortable with, then, become an expert on them..
just remember rural ip’s will in most cases have lower capital growth and may be a bit riskier, depending on many many things, such as resources,employment etc..
however the positive is rents are usually higher for the price paid..
rental return is worked out
ex- $120per wk rent on a $100 000 IP = 6.2%RENT RETURN
$120×52=$6240 / $100 000 = 0.062 x 100 = 6.2%
see jaffasofts site and start ‘playing’ with the figures on properties you like..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator
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