G'day.
We have an IP in Shepparton. Lately we have been amazed at how quickly it is to rent out, renters in one day and the next day in, we were a bit more picky and had a 1.5 week vacancy between tenants. Also amazed by how much rent we are able to get for our property. Seems like they are pretty much cash positive from the outset at the moment. When we enquired how much we can get for the property it seemed "MIGHTY" low. But the RE agent explained that he would be looking at selling to investors and they require a return of at least 9-12%. Yeah.... we are holding on, not selling at a loss.
So what do people think of buying more in this area?
Maybe we should spread our assets out a bit further to minimize fluctuations in capital growth that seem to have issues in regional towns?
Our pretty average 3bed 1 bath is renting for $270 a week. There is quite a bit on the market at under $200K.
Thoughts?
We have an IP in Shepparton. Lately we have been amazed at how quickly it is to rent out, renters in one day and the next day in, we were a bit more picky and had a 1.5 week vacancy between tenants. Also amazed by how much rent we are able to get for our property. Seems like they are pretty much cash positive from the outset at the moment. When we enquired how much we can get for the property it seemed "MIGHTY" low. But the RE agent explained that he would be looking at selling to investors and they require a return of at least 9-12%. Yeah.... we are holding on, not selling at a loss.
So what do people think of buying more in this area?
Maybe we should spread our assets out a bit further to minimize fluctuations in capital growth that seem to have issues in regional towns?
Our pretty average 3bed 1 bath is renting for $270 a week. There is quite a bit on the market at under $200K.
Thoughts?