However, it can only get around $550-600 a week rent. Main goal is capital growth
What is the highest rent a house/unit/apartment could get me a week if I was to buy at 750k? I am talking giving straight to a real estate agent to rent out on the market, no value add etc by renting out myself and doing renos etc.
Are there any places were you can buy a 750k place and get say, 900 a week rent?
Hi propertyboy
You may get returns and prices like that up in the north west of Western Australia, in towns associated with the large mineral and oil & gas developments in the area. However there's never a free lunch
Oil and mining booms do bust at times.Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
I know different people have different investing strategies, i have just signed contracts on a 2x2bed units with carport for $180K returning a total of $260/week. Could easily be $280/week, vendor has kept rent lower because they are good tenants.
I bought a 2 b/r unit in Coogee NSW right on the beach for $840K, did some reno's and it has been rented for $1500pw fully furn for the past 3 years. He just signed another 2 year lease. BUT, this was just plain LUCKY. Captial growth is AWESOME, just got valued at $1.3mil. But I have a place in Drummoyne NSW valued at $1.5mil and I'm only getting $980pw. Tried to get $1100pw but was empty for 3 x mths. Tis is all a gamble just like the stock market. No one really knows where the best deal is, just like no one knows the best stock to buy. If we all knew then we would all be megga rich by now.
Places like The Rocks in Sydney have that potential in the corporate rental market as furnished apartments.
sonyasal wrote:I know different people have different investing strategies, i have just signed contracts on a 2x2bed units with carport for $180K returning a total of $260/week. Could easily be $280/week, vendor has kept rent lower because they are good tenants.Hi Sonya – would love to know where you purchased these units? Sounds like a great deal…
Cheers
JessHi, Leeton NSW
Blackhotel, Coogee is a hard suburb to beat both in capital growth and yield. As local at Coogee and an agent for over 15 years locally, I have seen buyers make millions from your suburb however I have also seen buyers who brought at the peak go broke.
Most of the happy stories however come from blue chip suburbs like Coogee.
Happy investing.
Oil and mining booms do bust at times.
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