Reply: 1
From: Jas
On 6/10/02 11:51:00 AM, Michael Duffy wrote:
>Hi all readers,
>
>I am looking to purchase
>positive geared property in a
>area that could have a good
>future 10-15 years down the
>track,I have recently read
>something about Casino in NSW
>and wondering if anybody has
>an opinion on this area or any
>other suburb.I mainly buy in
>NSW.
>
Micheal,
I don’t invest in Casino, as I’ve never investigated the area. However, the main things to look for in an area are the difference between the property price and the rental price. A really quick and dirty guide is the rental should be about double the purchase price. That’ll equal a 10% yield. So the closer they are, the smaller the yield.
As far as growth prospects, try checking out the council’s site. That’ll tell you the council’s plans, the main industries in the town/area (you need a couple, otherwise when the main one closes, the town goes belly up) and so on.
Once you’ve made some decisions, you really then need to hit the phones. Call agents, valuers, and building inspectors to find out what their opinion is.
After all that, you should have a good idea, and then you can decide whether to go there.
One last note: people on the forum have a wide range of ideas about what is and isn’t a good place to invest. Ultimately it comes down to their goals. What fits in with one strategy won’t fit in with another. So make sure the town fits in with yours
Jas
In the end, all bankruptcies are caused by too many tax deductions
