What about Warracknabeel,Victoria
- Thread starter DPF
- Start date
Never heard of that town.
Doesn't matter - ask yourself:
how much rent will I get for this property?
who is going to rent this property?
how long will it take to get a tenant?
where will the tenant work? (naturally you want someone in steady employment)
who is going to manage this property?
how easy/hard will it be to do maintenance, tradesmen etc?
The answers to those questions should either rule out the town, or convince you to investigate further.
Marg
Doesn't matter - ask yourself:
how much rent will I get for this property?
who is going to rent this property?
how long will it take to get a tenant?
where will the tenant work? (naturally you want someone in steady employment)
who is going to manage this property?
how easy/hard will it be to do maintenance, tradesmen etc?
The answers to those questions should either rule out the town, or convince you to investigate further.
Marg
That's half the story.
The other half will be- what are the long term prospects for capital growth? Is the population increasing or decreasing? Is there an excess of demand over supply? Is there a local industry which would keep people employed in the town?
At those prices, I'd suspect that the prospects are poor.
And, in a small town, there's not going to be a shortage of land which will keep demand for existing places high.
The other half will be- what are the long term prospects for capital growth? Is the population increasing or decreasing? Is there an excess of demand over supply? Is there a local industry which would keep people employed in the town?
At those prices, I'd suspect that the prospects are poor.
And, in a small town, there's not going to be a shortage of land which will keep demand for existing places high.
