best location for rental properties

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From: Rod Myers


This is a very general question. Is it best in terms of renting, to have your IP in an area of high home ownership (lower number of properties for rent, lower number of rentees) or in area when there is a higher number of people renting, ie less home ownership ?
 
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Reply: 1
From: Simon and Julie M


Hi Rod

A lot depends on the type of property you are buying and the age of the suburb. Drive through a suburb which has high home ownership and compare it to one which has more rentals. Where would you rather live? Would your prospective tenants feel the same?

Good luck
Julie
 
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Reply: 2
From: George M


it would perhaps be easier and more accurate to look at the vacancy rate of the area, then look at the average for the surrounding area's.
rule of thumb-never go over 3%
and i would rather be in an area that is a family area. with good infastructure, than an area that is a renters haven too much competition and cashflow is the enemy. as the posting re: PRG (warning to other newbies), do you homework, take responsibility, be proactive.

Good Luck

George Mariotti
 
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Reply: 2.1
From: M O N T O


Hi George,
I agree with your rule of thumb of 3% or less vacancy rate, but where can I find this info for all suburbs?
 
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Reply: 2.1.1
From: Mark Laszczuk


Skewing Julie's answer a little, maybe it could be that you could find a suburb with high owner occupiers that also appeals to renters. That way, you have a desirable suburb with minimal rental stock. Check out Steve Navra's site (navrainvest.com.au) for further info. regarding this issue.

Mark
'no hat, some cattle'
 
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