Appealing to forum members for their view on this IP that I found: Investment property
I have been looking for a small IP for some time now, and have been looking at different areas Australia wide.
Hotspotting.com.au (Terry Ryder) have listed the Latrobe Valley as a future hotspot with big potential, and Traralgon is the economic centre of the area. All signs pointing to consistent growth, as Traralgon does not seem to follow the roller coaster city house prices, rather just continues to growth slowly and consistently (according to hotspotting.com.au). Lots of government infrastructure spending, govt departments moving in to the area, new power generation plants approved for construction (power for victoria) and so on.
So ive been looking in traralgon for a unit with its own yard and good rental yield - this one seems to fit the bill. The agent has told me the unit next door (in the group of 3) just rented for $290, which makes it positive cashflow at 6.5%, plus full depreciation benefits of a new build. Apparently the owner wants a quick sale and is prepared to negotiate on the price.
Im not sure if I can afford to jump at this opportunity right at this point but it looks compelling to me - any thoughts???
I have been looking for a small IP for some time now, and have been looking at different areas Australia wide.
Hotspotting.com.au (Terry Ryder) have listed the Latrobe Valley as a future hotspot with big potential, and Traralgon is the economic centre of the area. All signs pointing to consistent growth, as Traralgon does not seem to follow the roller coaster city house prices, rather just continues to growth slowly and consistently (according to hotspotting.com.au). Lots of government infrastructure spending, govt departments moving in to the area, new power generation plants approved for construction (power for victoria) and so on.
So ive been looking in traralgon for a unit with its own yard and good rental yield - this one seems to fit the bill. The agent has told me the unit next door (in the group of 3) just rented for $290, which makes it positive cashflow at 6.5%, plus full depreciation benefits of a new build. Apparently the owner wants a quick sale and is prepared to negotiate on the price.
Im not sure if I can afford to jump at this opportunity right at this point but it looks compelling to me - any thoughts???