Thanks Paul and Jim,
Now is certainly not the time to be going for any commercial property, unless you were an owner occupier, or could afford the 2,3,5,? years before that takes off again. Just too many empty ones that need to be soaked up first.
But residential is another matter ...
We're certainly looking to buy more when the sums add up, though our next one will hopefully be a splitter or block deal to try and manufacture some growth.
Don't want to use up all our equity and then be sidelined for too long.
Jim you wrote ...
... Yeah ... I can see value in that. They are super cheap ... and obviously could be put onto two titles which gives them more value again.
It would have to be easier to get a better price selling them individually than to try and sell them together ... and getting them revalued then has to help also.
Plus they can be cash flow positive or at least neutral right from the start.
Plenty others have twigged onto them as well, and at least one astute agent who is marketing them that way.
You also asked a question I didn't answer ... sorry.
Years ago, it would have been fairly easy to answer this, but with the sell-off of housing trust homes and the infilling of new houses ... there is a real change.
Also, where there were small blocks of streets that you'd want to avoid, the very next street over can now have a great appeal with new subdivisions all over the place.
I still struggle with my view, trying to delineate between where I'd be prepared to live ... and what makes a good investment.
Was it you (writing about Elizabeth) that it boils down to checking out the neighbours ... junk in the front yards, car bodies and engine blocks everywhere ... That would be a great idea here too.
Years ago, Jeffrey Cres, Frances St, Laura St, Gail Cres, most of 'Birdsville' (all the streets were named after birds) etc etc were places I would have avoided, but driving around with fresh eyes (and an investor's cap) can change things.
Anyway, enough for now.
Cheers, Roger
