Hi all
I’m new to this sort of stuff. Have some extra money and I’m interested in investing, especially in the Townsville, cairns or Darwin regions. Does anyone know of any buyers agents in these regions? Or any other advice for a novice?
The prices look good in those areas and so do the returns, but does anyone know how the market has performed in those areas over the last few years?
I have about 15000 to invest which I should be able to get up to 20000 soon. That is why im interested in these areas as they are in my price range.
thanks[exhappy]
Looking to invest
Kay,
This is where the demand is my dear friend.
Hi Chris
the business sunday show on nine sunday am did a story on darwin propert a week ago.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
hehe Yorker…
Yeah, but we could always teach this man to fish instead of feeding him a fish. So we could send him to all the sites we know of, so that he could know what we know… ya know what I mean?Of course, you could always sell him a report
What price are you going to charge anyway, Yorker?Chris_J, I am sure there will be many people who have bought up in those areas who can advise you about them. Meanwhile, you can do a search on here and on somersoft.com.au to find out some basics, and then ask any questions you want to :o) Ask specifics now too, if you want to. Property’s a fairly general thing, so most people will probably want to provide you with their perspectives on things
Welcome to the Board, Chris
kay henry
Go Chris!
Kaye, I doubt you could benefit from them, thought you knew it all.
I know nothing about many aspects of property- trusts and finances to name but a few. However, I do feel confident about other areas, or more importantly, confident about finding out what I need to know. but that’s only because I’m compulsive about looking stuff up and I look up anything I’m interested in.
I love property, and have lots of ideas about it… but notions of knowledge… well, I’m not comfortable with that. I just like discussing it.
kay henry
Hey Guys
This is my first post to the forum. I’ve been reading a lot of it and there seems to be some fairly astute people on here.
I’ve been researching property investing for some time now and am keen to get some runs on the board and get this ball rolling. I have some concerns though.
Chris_J – I live in Townsville and at the moment I cannot for the life of me find a property that even comes close to being able to achieve a CF+ position. Property selling for $150000 is renting for $180-$200/wk. Now, anyway you look at that it just ain’t going to be CF+. I estimate that you would have to pay $50-$70/wk out of your own pocket after PIRI (principal, interest, rates & insurance.) I am actually looking at a duplex at the moment which is listed at $250k with both units renting for $120/wk each. Sure, the rents are under market value and this property could probable achieve $300/wk but even at that I still can’t get it in the black. Am I not being creative enough? Is there something I’m missing. I have pretty much given up on Townsville at the moment and have been looking further afield.
Which presents my next problem.
I have actually found some property in a more remote town which seems to have a fairly stable economy although it has little or no population growth at present. I don’t think it’s going to disappear overnight but I also don’t think it’ll produce any great capital growth. OK. Back to the problem.
There are properties here selling for $150000 that are producing rents of $300/wk. Now by using Steve’s “11 second solution” (Rent/2*1000) this property should be CF+. By my calculations it is. I reckon this should return about $25-$30/wk positive cash after PIRI.
This all sounds great and all, but my problem is this:
I’m working on a 7% interest rate. What happens when the interest rate jumps to 8%? The cashflow drops to $4.00/wk. The same happens if the propery is vacant for four weeks of the year. It just seems to me that this is a big risk for 30 bucks a week. If either of these figures increase to any more than that, you’ve got a CF- property on your hands.
My question to you guys is……am I missing something? Am I over-analyzing things? Is that even possible?
Please, someone. Give me your thoughts.
Cheers
BundyP.S. Steve’s 11 second solution has always amused me. I think it’s great. It’s makes me feel super smart ‘cos I can work it out in 2 seconds. [biggrin]
Yeah, but we could always teach this man to fish instead of feeding him a fish. So we could send him to all the sites we know of, so that he could know what we know… ya know what I mean?
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