If you could buy a property, in good condition, (low maintenance) for the above prices what would stop you from buying??? (given you had the money for deposits & closing costs)
Would the area matter much if you had good tenants and were paying their rent? What if the town only had 4000 people but the town itself had been around for over 100 years?
Just after general comments here nothing too specific… Ive already done a deal and Im happy with my purchase.
[cap][biggrin][cap]
Your happiness is all that matters!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Originally posted by devilcv8:What if the town only had 4000 people but had been around for over 100 years?
I didn’t realise you could buy investment properties in cemetries!!![blink]
Congrats; must be a bugger trying to evict tenants if they don’t pay on time!!![eh]
Very funny Jo!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
haha good comment
yeah i got a great spot between 2 dead guys… great views, but probably not much ‘growth’ potential haha
No, its not a cemetary… fortunately. [cap]
On a more serious note……[wacko]
As MA said, as long as you are happy with your purchase, who the heck am I to say different???
Well done!!!
Jo
While I am happy with it, I am trying to grab some feedback on the info I have given without naming the area which may affect peoples thinking due to pre concieved opinions… or ‘roumors’
Thanks
Luke [blush2]
Hey Devil,
You could PM me with the area – after all, I live in a place called Gumly Gumly (yes, it’s out in the sticks) and I know for sure that there are a lot of pre-conceived ideas surrounding here. With 4000 people it has to be a step up for me!!!Cheers,
SpankAge doesn’t negate effort – you can never be too young or too old.
Sounds like one of those areas that are so good, they named it twice!!!
Wagge Wagga
Gumly Gumly
Woy WoyYou get the idea…
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Or the person naming it had a stutter stutter!!![blush2]
it’s a bit pointless to ask people what they think without some more details about the area.
Is it coastal, is it outback, how far from cities, what industry etc etc????
you didn’t mention what rent these places are getting either…
flesh out your post and you’ll get more responses.
cheers
rAnd try not to get too many eggs in the one basket.
Terryw
Discover Home Loans
Mortgage Broker
Click below to email meTerryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Id like to have many baskets with one egg in each one. If one property is not performing, the others may be…[biggrin]
[cap]
More to the point please – it’s such a hole it echoes!!
Age doesn’t negate effort – you can never be too young or too old.
Spanky Spanky,
How How far far is is Gumly Gumly from from Wagga Wagga?
Ok, on a serious note, the things that would stop me investing in a town like you mention would be “
a) population declining
b) one industry town
c) no form of public transport to the nearest city.I have a property in a town of 4000, where the population is stable, it may even show a rise in the next census if buidling approvals are anything to go on. It has more than one major industry providing employment and it has a daily train to the nearest city. I’m extrememly happy with the rental yeild and have added value and obtained growth. I don’t expect major growth but am confident it will continue upwards even if it is slowly. Plus the cashflow from this one is paying off our -ve geraed one.
Having said that, I won’t purchase another in the town as I don’t want all my eggs in one basket. I have a policy of one house per town/suburb policy and so far it’s working for me.
Good luck with yours.
PK
Merry Christmas to you all.
We have had success in 2 “small” towns that are outside major regional centres. They are serviced by a school bus and senior citizens bus! Our property managers have worked well on our behalf and we have had no problems. Both have increased in capital value, we have had one 12 months and the other nine months.
We found real estate agents in the areas who listened to our requirements and were happy to help us find properties that suited us.
The only thing slowing us down is we ran out of 20% deposits, required in regional SA, and it will take time to buid up that amount of equity again.
Wishing you every success, Diane
Do you not have any equity available for the deposits? You did say your properties have increased in capital value…
Using existing equity is common for further investment properties.
Robert Bou-Hamdan
Mortgage Adviser0414 347 771
[email protected]
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdHi Mortgage Advisor,
yes we have some equity available but not the approx 20g for deposit + costs. And the biggest hurdle we have had is that the bank valuers have been valuing the proerty at so much less than what the agents say it’s worth. We know it will always be less, but we have had one valued twice and the valuer only budged $1000. They seem very conservative in regional areas.So while we could sell for $20+ more than we paid the bank valuation only went up $1000. Not very helpful.
Diane
I see your dilemna. It is happening a lot in the current market. I guess patience is the answer.
Robert Bou-Hamdan
Mortgage Adviser0414 347 771
[email protected]
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
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