Searching for 7%+ yields

commercial IP may get 7% if thats an option.

 

I second this. My tenants in Logan have been there since 2012. This is almost 10 years now. They have no intentions of leaving and each year the rent has increased $10-$15 a year.

I've been waiting to do a similar makeover as you mention above but have not had the chance...

 

I've got multiple properties where the tenants have been in since 2015 when I started buying in Logan. They are all lovely people, super easy going and treat the house like its their own! I've never once had an issue with rent payments as the tenants wouldn't want to leave!

 

The risk is low to non-existent. I have multiple properties in Logan and I haven't had one issue with rent payments since 2015.

If you're interested in great yields just talk to a good property manager, they will tell you the same thing.

 

100% agree! Over the years I've bought many with 7% or greater yields in regionals. Got one that I'm about to put on the market. I've had it for over 20 years now. Paid $67k for it and at the time of purchase they were paying around $150pw in rent. Same tenant the entire time. No issues. They are now paying a little short of $300pw, and I'll be asking close to $300k (not 7%). Only selling to deploy funds elsewhere.

 

I know nothing about Logan, but I hear the name comes up quite frequently.
If you're renting properties you bought years ago, I'd understand yield (based on original price) would be high.
However, the OP asked about buying a property now and get that kind of yeild.

Can you buy a liveable place in Logan for $300k-ish and charge $550 pw?

I'm only responding to the OP question.
I'm less into high yield. My own strategy is big land, hold for decades with the hope of rezoning (so big CG rather then yield).
I've been very lucky and my last IP has all those, plus higher then average yield (4.5% 5.5%) due to the properties of it, but that's an anomality with the kind of purchase I've made.

It's not normal to get 4.5% precent yield on 1.2M IP in the 40km radius on the CBD, so I'm very happy.

 

Yes but they are hard to find and the buyer will need to do some sort of basic renovation to bump the rent up to a high level i.e. $550

 

too late for Sydney, as all property with granny flat ability already gone up in prices and building granny flat itself cost around $120k to $140k plus council cost anywhere in sydney.

if you looking at suburb around st mary or mt druitt then also it will be hard as new airport already pushing prices up there .. !

 

I disagree

 

It is not limited to finding tenant who can pay rent on time regularly but there is flooding issues in Logan so check that as well even if think going that part of Brisbane... !

 

well, you can disagree as it is democratic right of every citizen ..

 

Where did you find this information?

 

Of course it would have been better to have bought 2 years ago but sydney is always going to be a great place to invest.

 

which regional area/ suburb you recommend? doesn't matter the state but important to get high yield.

i am looking into units within 700k budget in regional areas across australia but the one that comes under the budget are fibro so couldn't find any yet that is brick veneer or double brick in good condition with steady income.

 

So many properties all over Brisbane (not just Logan has flooding issues) not affected by flooding that it's really a non issue. All the councils have flood maps.

 

Pinterest...send me daily photos and prints of things that may be of interest to me.
Being a New Zealander and Wellingtonian I like looking at historical photos .
These photos are prints well before I was born of course.
The cottages in the print are hardly new houses more like rundown workmen sheds but still they are a property.

 

There's plenty of regionals with high yield. I'm not going to give recommendations. A solid search of the major realestate search engines will bring them up.

 

Oh great. Are the photos from Wellington then? Single workman huts located near some industrial area ? Do you know the location today?

 

Agree, council has flood maps, my comment was more to keep people aware that flooding is the issue so they should stay away from flooding zone which is not common Sydney so they shouldn't simply by anywhere without looking at council flood maps.

 

...Luckily not every member on this website is like you...