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From: Anonymous
Hello All,
I have been using this forum for the past 6 months, but have not seen discussions on the following topics :
1. What do you consider as a good deal. I recently bought a townhouse in Doncaster with a 5 % gross return. Now I do not think it's a good deal but it seems 4 to 5% are the norm for Melbourne properties. To cover a P & I mortgage at 6 %, one really needs a 10% yield to cover all the costs. I realize some people suggest you can renovate,extend, or whatever to increase the return, but it is easier said than done for a newbie like myself.
2. People say one need to select properties close to school, shopping, transport and all the other infrastructure to have good capital growth, how does one explain the growth in areas such as Thornbury,Footscray, Coburg which do not really have very good infrastructure except geographically closer to the city. But it take me less time to travel from Doncaster, than say Coburg, to the city.
3. Do people have experience in investing interstate properties, either good or bad. Can it be done.
Thank you all in advance.
Hello All,
I have been using this forum for the past 6 months, but have not seen discussions on the following topics :
1. What do you consider as a good deal. I recently bought a townhouse in Doncaster with a 5 % gross return. Now I do not think it's a good deal but it seems 4 to 5% are the norm for Melbourne properties. To cover a P & I mortgage at 6 %, one really needs a 10% yield to cover all the costs. I realize some people suggest you can renovate,extend, or whatever to increase the return, but it is easier said than done for a newbie like myself.
2. People say one need to select properties close to school, shopping, transport and all the other infrastructure to have good capital growth, how does one explain the growth in areas such as Thornbury,Footscray, Coburg which do not really have very good infrastructure except geographically closer to the city. But it take me less time to travel from Doncaster, than say Coburg, to the city.
3. Do people have experience in investing interstate properties, either good or bad. Can it be done.
Thank you all in advance.
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