So I have been searching around and looking into different area's to buy in for our next investment property. We are looking at a buy and hold strategy and need decent rental yeilds mainly because we want to buy more properties down the track and we aren't on great dollars at the moment.
Recently I have been really interested in the market of Miller and Cartwright. To start with, I know it's got it's own stigma attached to it - with Miller having alot of government housing and being a bit of a rough place. Basically, I am just wanting peoples opinions to tell me whether I am on the right track with my thinking or am I missing something.
What ticks the boxes for me:
* Close to M7, M5 and Liverpool
* Industrial area being built up at back of Prestons (more work available)
* Alot of shops close by
* T-Way access
* TAFE and Schools
* Main roads currently being upgraded
* Prices lower then surrounding suburbs (~280k for 3bed house) with decent rental yeilds (~$330 weekly for 3bed)
* Not to far from where I live, so I can do maintenance easy.
Concerns:
* No railway access, have to drive to Liverpool for that
* Stigma attached, will this ultimately effect CG?
* More chance of bad tenants?
I would be very greatful if people could let me know whether my thinking is justified. I look at these two suburbs and feel like I could pick up a bargain, considering at the moment there seems to be more houses for sale then meets demand there.
Cheers,
Andrew.
Recently I have been really interested in the market of Miller and Cartwright. To start with, I know it's got it's own stigma attached to it - with Miller having alot of government housing and being a bit of a rough place. Basically, I am just wanting peoples opinions to tell me whether I am on the right track with my thinking or am I missing something.
What ticks the boxes for me:
* Close to M7, M5 and Liverpool
* Industrial area being built up at back of Prestons (more work available)
* Alot of shops close by
* T-Way access
* TAFE and Schools
* Main roads currently being upgraded
* Prices lower then surrounding suburbs (~280k for 3bed house) with decent rental yeilds (~$330 weekly for 3bed)
* Not to far from where I live, so I can do maintenance easy.
Concerns:
* No railway access, have to drive to Liverpool for that
* Stigma attached, will this ultimately effect CG?
* More chance of bad tenants?
I would be very greatful if people could let me know whether my thinking is justified. I look at these two suburbs and feel like I could pick up a bargain, considering at the moment there seems to be more houses for sale then meets demand there.
Cheers,
Andrew.