Visit to Wagga Wagga – My Property Investing Report

Hi there oneworld
Blocks of units yer lets talk about them.They are great cash cows if you buy them at the right price.blocks of units are exspensive here in wagga and i have noticed that the money that investors are wonting for them work out to be the same as if they were already strataed there for then its  not worth the trouble to strata them.many  people that buy units pay way to much money to start of with for them then  they end up not being able to keep hold of them because of the money it costs them to hold  these properties (and they do not value up like houses do) so they end up getting desperate and selling them for less then they paid for them.Thats when i buy them.I brought a block of units in kooringal, and all my so called friends back then told me i was crazy(they needed same TLC which to a lot of people means putting in more then effort.i knew deep down i was crazy not to buy them. They are by far my best investment and by being creative my family and i done work on the units lifted the rents and they are positive geared by $230 a week after all losses are taken outAnd they were revalued for more then $100000+.To all my lost friends for buying that property GOODLUCK u stay doing what you do best and i will FEEL THE FEAR THEN JUST DO IT .I am not sure why you are buying property and what your end result is but wagga is thriving this i know but maybe the properties  you are buying are not the right ones for what you really are wonting to achieve.The builders are making  meger dollars out of you suckers out there that are buying brand spanking new  properties and your time to shine wont be for mmmmmmmmmmmmany years but for those that know better your time to shine will be sweet and sooner then later.We are all different in were we are going in life and to get to our distanation we must enjoy the journey yer i will admit its one huge rollercoster ride but o so much fun.there are more downs then ups but its the way that you look at those down moments and react to them that will give you the advanage over others and you will always come out shaking your head and saying WOW how in the hell did i pull that one off.It was not luck that helped you but the way you tackled the situation problem or what ever you wont to call it. I would be interested to know  how much you paid for your units ,the rents that you recieve,  if they are run down and get a little creative on how to turn them from negitve geared to at least neutrally geared if not positive geared.I do hope i was of some help to u.

Hi CRJ

Did you buy in Wagga as well?

We just had new tenants move into our Wagga property – I've been told they're a lovely old retired couple……which is reassuring.

Yeah I agree. I was just curious to see if you were also investing in Wagga. Seems to be a bit more interest in the area as of late.

mentobe – you sound like Margaret Lomas! Are you??

Ajayayyar – thanks for your comprehensive post. I'm also looking around Wagga area but I'm finding it hard to make a decision without actually having visited there.

Does anyone know if Fernleigh Road (in Ashmont) is "dodgy"?

Jacqui – Welcome to Sydney. I believe alot of suburbs and Sydney itself is not good for investing in property at the moment (negative growth etc). I subscribe to some reports by Terry Ryder and am a follower of Margaret Lomas. They both seem keen on the Hunter Region/Newcastle.