any thoughts on Ballina?

[foxygirl]

Hi all

i am contemplating my first IP and want to buy somewhere that i can actually see the property. as i have family in Ballina, this is a possible place that i could buy an IP and keep an eye on it.

does anyone have any experience/tips re: Ballina

thanks!

 

[Jontxu]

Hi There

Ballina has been a solid performer over the last few years, averaging the 10% growth over the last ten years, here are some stats for you:

Median: $365K
12 month median growth: 4.3%
10 year avg growth: 10.2%
Median rent: $290p.w.
Gross rental yield: 4.1%

Source: Australian Property Monitors.

I would make sure the only reason/strategy for buying is not so you can see it. Make sure you research well the area, get to know what things are selling for and buy well. Rental yields are a bit low, so plan accordingly.

Happy Investing
Jon Salvador
www.headinghome.com.au
For investors … from investors

 

[Jayro]

Im the opposite with my property. I prefer NOT to see it. As long as the property manager is taking care of it and the rent comes in on time and my insurance is up to date then Im happy to not see it as I find that I stress over the silly little things. For me, a once a yr visit is enough. And for this it really can be anywhere in Oz and its easy enough and cheap enough to go visit these days.

Like Jon has already said, make sure the important things all look right 1st. Good luck with your 1st IP .

Jayro