Hello,
I always feel like I get on board a couple of months too late to really take advantage of good rental yields for houses in cheap suburbs!
For example, I began researching a potential investment in the Logan City / Beenleigh area about 3-4 months after prices started going crazy and others would snatch up properties way before they listed.
For example, a crappy 2x1 townhouse I was checking out in Woodridge was selling for $189k, and it was going to sell quickly (I was assured). Only a year before, the vendor had bought it for $130k and it was renting for $190 a week. I ended up going for a very nice 3x1 townhouse in a managed complex in Waterford for $200k. Not exactly what I had in mind (and no land value as such), but I still believe it is a good investment returning $255 in rent pw.
Now I am looking at Frankston, and (from my very limited research) it already seems like the same rush is happening there.
Do you think it is still worth looking at these suburbs when it seems like the general population has caught on to the fact that it is a good area?
Also, what do you think are some other areas that have not yet been widely discovered?!?
I always feel like I get on board a couple of months too late to really take advantage of good rental yields for houses in cheap suburbs!
For example, I began researching a potential investment in the Logan City / Beenleigh area about 3-4 months after prices started going crazy and others would snatch up properties way before they listed.
For example, a crappy 2x1 townhouse I was checking out in Woodridge was selling for $189k, and it was going to sell quickly (I was assured). Only a year before, the vendor had bought it for $130k and it was renting for $190 a week. I ended up going for a very nice 3x1 townhouse in a managed complex in Waterford for $200k. Not exactly what I had in mind (and no land value as such), but I still believe it is a good investment returning $255 in rent pw.
Now I am looking at Frankston, and (from my very limited research) it already seems like the same rush is happening there.
Do you think it is still worth looking at these suburbs when it seems like the general population has caught on to the fact that it is a good area?
Also, what do you think are some other areas that have not yet been widely discovered?!?