ballina

[james start]

Hi there

anyone got a IP in ballina or any thoughts on it?

i live in yamba and am looking for something semi local that might perform a bit better than my neighbourhood

I have tried to search for related threads buy cant find much recent

thanks in advance

 

[Sheryn]

Ballina is considered a lifestyle town.

Rental yield return would be poor unless you can improve the property you buy. The Real Estate market is quiet there at the moment.

Friend of mine paid 360K for a corner block away from the main part of town to build a detached duplex which he has since constructed and rented out for $400 and $440 per week or thereabout.

All up he reckons it cost him a close to a million.

Now I reckon a million invested at 6.2% might be a better option.

The people who worked on the new roadworks are slowly pulling out of town and I have heard the rental market demand is quiet as well.

What type of property are you looking for eg 2 bed unit or house etc.


Cheers
Sheryn

 

[Anders]

Hi there,

Firstly I would ask what do you want the investment property to provide - is it capital growth, a holiday home you can use, or simply making you as much money as possible?
The point is, there can be 101 different reasons why you are investing in a property. Once you know what you want the property to do, then research where you can find that type of property .You may be surprised where it is.

Happy hunting

Anders
Property Research & Market Trends

 

[james start]

Thanks for the replies

im looking for a 2-3 bedrrom reno house i can spend some time on doing up close to where i live. make some equity and then rent it out

I dont want to do one in yamba as it seems over priced so im looking in other areas.

I dont like lismore or the problems w flooding there, i have been warned to stay away from the gold coast, and brisbane is a bit far to drive to on my weekends off, so that leaves, armidale, or coffs harbour, which i am going to have a look at next week

i am just starting out so i appreciate any feedback from anyone on any of these area's

 

[sports fan]

check out south grafton area is slowly improving and coming off a low base.. it has had 7-9% cg pa not to bad.. need to pick location carefully however must be elevated position as you would know coming from yamba.. just a thought anyway

 

[james start]

thanks i will

 

[Jacque]

I do believe that Ballina made it to YIP magazines top 100 suburbs recently. Check it out in the newsagency....