Budget $200K

[Don K]

Hello everyone

I am new to this forum and wondering if anyone can give me some advice.

My budget is $200K and looking for IP now. Where do you think I should look at with the budget? I am in Melbourne but I am particulary looking at SE QLD or regional VIC. I may need to achieve around $220/week rent to get finance. Any suggestion would be appreciated.

 

[Mom]

Since your search requirements are quite broad, go to realestate.com.au, type VIC choose house, villa, unit town house & apartment, choose to exclude property under contracts.

I found this that I thought quite reasonable upon first first glimpse,
http://www.realestate.com.au/property-house-vic-stawell-107250184

Do your research on this particular area, check rentals vacancy, ring the agent, do your sums then make your decision.

Best of luck.

 

[Andrew_A]

Those figures are quite achievable in the Logan region of Brisbane, not everyone's cup of tea but that's the nature of this price range.. can't be too choosy and higher yields are compensation.

 

[Jamie M]

Those figures are quite achievable in the Logan region of Brisbane, not everyone's cup of tea but that's the nature of this price range.. can't be too choosy and higher yields are compensation.

I was going to suggest Logan as well. One of my clients just picked up a 2 bedroom unit for $170k - getting $250 p.w. Looks like he's already added some value to it as well.

Happy hunting.

Cheers

Jamie

 

[Wunderbar]

My advice would be go put some money into a speculative mining stock. Don't waste your time with regional areas esp if you don't live near there.

 

[Kristine..]

Hello Don

Welcome to the Forum

Horsham is a long term favourite for many people on this Forum

The 'search' facility will produce many posts on the subject

Hope this helps
Kristine

 

[Don K]

Thanks everyone.
Actually I already have one in Logan (bought in Dec 2010) achieving good rental return but my concern is CG. I hear it is wait and see market at the moment (which may be a good time to be aggressive). Hoping to see some positive move by the end of 2011 as people say. When do you think the market will pick up in the area?

 

[Bayside]

1 bed Flat in Sunshine Melb or beach box in Brighton.