VIC Is it positive to help me finding cash positive suburb in Melbourne?

Hi Guys,
I am new investor and looking to invest in Melbourne but I am not able to find any suburb where I can find cash positive property.

Is it possible for you to guide me which suburb I should look for cash positive suburbs?

Thanks in Advance for your help.

 

I just googled 'High yielding suburbs Melbourne' and it offers lots of suggestions.. The higher the yield the more likely it is to be cash flow positive. Time to start running some numbers. Good Luck

 

I laughed at your title my friend

Is it positive to help me finding cash positive suburb in Melbourne?

 

Your motive in this post is not very positive! See what I did there.. Lol

 

Carlton and CBD North near Carlton have some cash flow positive properties; however, most of them are student accommodation, very tiny <40sq and don't have much scope for CG. Make sure you avoid these. Either way you're looking at apartments in this market and a massive risk of oversupply pushing down or stagnating rents or prices.

This property would be cash flow positive with a 6% yield
http://www.realestate.com.au/property-unit-vic-melbourne-119943517

Personally if you're after cash flow look at the major regionals: Bendigo, Ballarat and Geelong. I recently purchased a cash flow positive property in Ballarat.

 

I know where you can get property that are roughly cash flow neutral in nice Eastern suburbs. Never mind that they're totally out of character for the location and haven't increased in value in the last 5 years (when the rest of the area has increased by about 60% in that time).

 

I can't tell if you're being sarcastic Peter or suggesting there's pent up growth there?

 

Put down a 40% deposit and just about anywhere will be cash flow positive.

 

Thank you every one.. just realise I have made typo in my title.. instead of Possible I wrote positive

 

http://www.domain.com.au/for-sale/226b-1-19-colombo-street-mitcham-vic-3132-2012004628?sp=12

Asking price $245k, renting for $280/wk (according to the add). Rental yield is 5.9% on asking price. Not sure what the holding costs are, but it's probably fairly close to neutral with rates of around 4.24%.

No, I'm not suggesting there's pent up growth, despite better than average cash flow, I don't think these are good investments. There's quite a few similar apartments coming on line over the next few years, and if you wanted to live in an apartment, you'd live a lot closer to the CBD.

 

Melton

 

The deposit doesn't affect the calculations sorry Jen.

 

@NewbieInvestor

look at northern suburb brand new villas/unit.. they could be cash flow positive!