- pgdavidsonMember@pgdavidsonJoin Date: 2007Post Count: 1
Hi, I have a pre-approved loan to approx $750k and am looking to enter the WA (Perth) market. Prices in Perth at present seem far too inflated and positve cashflow properties non-existant. I have been looking to the Pilbara region where rental returns have been fueled to amazing levels by the mining boom however prices are running at an average $500k so I am not sure how much capital appreciation is left in the next few years. Is it too hard to buy a rental property in Melbourne and Sydney and manage from Perth?
Any thoughts would be much appreciated.
PDAUSPROPParticipant@auspropJoin Date: 2003Post Count: 953
article in todays sunday times quotes gavin hegney as saying the boom is about to take off again and we are in a temporary lull… worth readingShwingParticipant@shwingJoin Date: 2005Post Count: 219pgdavidson wrote:Is it too hard to buy a rental property in Melbourne and Sydney and manage from Perth?
Any thoughts would be much appreciated. Kind Regards PD
PD, I'm in Sydney and do not own any investment properties in this state, they are all in QLD and WA. You do not need to manage a property yourself, you pay someone else to do that. Trying to manage a property in the Pilbara region would be just as hard as Sydney if you live in Perth. So the answer is no, it's not hard to manage a property interstate if you pay a property manager to do it for you.