Property In Larger COuntry Towns

[WebBoard]

From: ROBYN SCHOLZ


Can anyone out there tell me if there is any money investing in the larger town like Albury/Wodonga or Ballarat. I was also told that Apollo Bay may be a smaller town about to Boom.

Any thoughts about this???

Robyn

 

[Les]

Reply: 1
From: Les .



G'day Robyn,

Steve McKnight does a lot of his deals in Ballarat - so it certainly works for some.

These larger towns (cities) are more likely to give you a better rental return (usually to offset the lack of Capital Growth).

Peter Spann told of being in Geraldton WA, paused by a Real Estate window, and spotted a house for sale for $25,000. He asked, and found it would rent for $150 per week. Wrote a cheque on the spot - why wouldn't you, with a 30% return?

It depends what you are after ...

Regards,


Les

 

[WebBoard]

Reply: 1.1
From: Glen Monahan


Robyn,
I live & invest in Geelong & work in Melbourne. Getting in to the market in capital cities can be very expensive. You can get good 3BR homes in Geelong in good suburbs in the mid to high teens and if you buy well you'll get the cap gain as well. As prices in Melbourne rise more people are looking to Geelong as it is 50 min by train to the Melb CBD if you choose to commute. The freeway is being upgraded and the fast rail link will eventually get here. I think you can do well in regional areas if you do your homework but the further you get from a capital city it tends to swing to cash flow instead of Cap gain.