Jesmond- Need Your Help!!!

[DivineWind]

Hi everyone,

This is my second post. Compare to you people, i've got no knowledge regarding Investment property. You guys are genius. With my little knowledge and with your help i want to buy a Investment Property.

i'm looking for something that has a good cash flow and modarate (Good if possible) Capital growth.

i came across this following property, i need you suggestion. what are the Pros and Cons.

http://www.realestate.com.au/cgi-bi...r=&cc=&c=62029266&s=nsw&snf=rbs&tm=1265175583


Thanks

 

[BV]

student accommodation???
Unless you are local how are you going to collect the rents?

 

[marg4000]

I'd check with the local council to see if this level of occupancy is legal and allowed under council regulations.
Marg

 

[Propertunity]

i came across this following property, i need you suggestion. what are the Pros and Cons.

Cons:
1. The (legal) limit is 5 or 6 NOT 8 . There is a lot of this thing near the Uni but if you buy slightly better accom then you can charge slightly higer per room rates and then you can do it legally.
2. You have to furnish it for students
3. You have to provide an internet connection. Students without the internet can't lodge assignments etc.
4. You'll have to get a cleaner there once every 2 weeks.

If you're still interested give the selling agent, Allan Reece, a call and he will answer honestly.

Higher returns = higher risks

 

[Simon]

That place has been on the matrket for ages.

Do you want to be the big city guy buying a place the locals wont touch?

 

[nww]

Not sure you would get much capitol growth.
Jesmond is not what you would call an aspiring area.
House position is between two very busy streets and a black spot roundabout.
Street parking will be full of cars from nearby uni.
And when they finally get around to joining up the Jesmond bypass and Lookout rd
this could possibly be one of the busiest roads in Newcastle.

Has also been reports in the Newcastle herald of a few attacks on overseas uni students
from the nearby shopping centre.

 

[DivineWind]

Thanks to All.
Great suggestions and opinion.

Please suggest/advise any perticular place/area where i can get very good cashflow with modarate/good capital growth.

 

[Propertunity]

Not sure you would get much capitol growth.
Jesmond is not what you would call an aspiring area.

Awh Jesmond has done OK in the CG stakes....but your other observations are pretty much right

 

[Propertunity]

Please suggest/advise any perticular place/area where i can get very good cashflow with modarate/good capital growth.

And how much are you willing to pay for all this research?

 

[HomeBuyAU]

It might be a bit touch and go, as others have said. Propertunity knows this location well. I have visited a few places in Jesmond but don't know enough about it to give my thoughts.

Also if you post a property on a public property investor forum and it is still available the next day then it probably is nothing great. But if it has an "Under Contract" sign on the page then you know you should have bought it

 

[tristo]

I've looked at this property with a friend who was interested.

All I can say is, poor kids. It's a disgrace, and I have been a Uni student living in the area who has seen a fair bit of the ups and downs.

 

[bwendo]

And then there's North Lambton

Just up the hill a kilometre or so you'll appreciate a fine nor east aspect with views to Stockton blurring the line between Jesmond and North Lambton.
Lovely views, fresh air, generous land, eager tenants and on the market for around 300k.

 

[lizzie]

how the heck did they fit 8 bedrooms in that small house?

 

[nww]

how the heck did they fit 8 bedrooms in that small house?

Looks like they backed in a cattle truck then built the house around it.