units in regional town

[brains]

Hi all,

I am considering a deal of 17 units in a NSW regional town. The rent return is great but i am a bit concerned about the cap. growth (or neg. cap growth as in a dying country town)

Two things i would like to find out are:

When did the existing owner buy the complex and how much did he pay for it? (the real estate wont tell me )

The past population growth (or otherwise) of this town.

If anyone can point me to a site or a resource where i can find this info, would be greatly appreciated.

Thanks

Wayne

[Kevmeister]

An "Individual Property Report" by www.propertyvalue.com.au for $40 might give you some of the info you need? Could be cheap insurance for some peace of mind?

On the other hand, I'm sure I have read somewhere on this forum or elsewhere not to invest in regional areas with neg. population growth (aka dying country towns), but I can't support that with any facts or reasons.

[Aceyducey]

Brains,

Look up the local council site - it should have all the area info....or you can call the council and they should be able to tell you.

You should contact Residex (http://www.residex.com.au/) about the property's previous resale price. I'm not sure they cover regional NSW but will be able to point you to who does.

Cheers,

Aceuducey

[Bear924]

I'm also looking at investing in a smaller country town, the problem of capital growth is something I'm trying to keep aware of.

Anyhow check out this website:

http://www.propertyvalue.com.au

It was posted in one of the discussion in this forum... very interesting.
To check out a sample report click on the 'report example' and then you can type a house address and it will tell you when it was last sold.... if you pay $30ish you can get more info such as the last selling price.
Regards

[brains]

thanks,

Ive tried the propertyvalue.com.au site previously and it doesnt have the info, it probably doesnt include this particualr town in its records.

[XBenX]

ive got rpdata axs - PM me the details and ill look it up for you - better still, its free of charge :)

[Aceyducey]

XBenX,

You've just become everyone's new best friend ;)

Cheers,

Aceyducey