Worst suburbs to buy in 2016

Is Wagga just too far from Sydney/Melbourne etc to follow on from any metro boom? It is a 5 hour drive to Sydney and yes, my sister has a house in Mt. Austin... the suburb is probably just 1 step up from Trashmont! Minimal or zero CG in the last ~5 years and vacancy issues too.

 

Not sure if you would reply to this but I would be interested and I'm sure others would be too on how and what you are doing these days?

When I last read about you in one of the property mags you had aprox 10 properties some regional and had done well renovating....are you still buying cheap and doing up? How did this strategy work out for you? How many do you have now?

 

sure, am happy to give a no bias update,

currently on 28 IPs, bought 2 in QLD this year, Marsden, Redbank plains,
Marsden was a firedamaged one (cant remember if I posted it up)
Im staying away from Vic and NSW in general, if I was going to buy more it will be QLD,
development I think timing wise is a bit risky.

its working out overall quite good, I was severely cashflow positive, but a few issues one of them with a Ashmont one has chewed up a significant amount of cashflow, I am considering selling them .

once I sort out these issues, ill be back cashflow positively happy

Have one that is mining affected, and the values have dropped back down to purchase price, (so I guess a dud investment) I may sell this too.

on the other front,
- I am putting together a Japanese Whisky Online business, which ive been doing it as a hobby for the past few months, lets see how that goes
- Going to start a blog on accumulating frequent flyer points, cos apparently im quite good at it (or maybe im just a points hoarder!)

Hope this helps
its been a good run !

 

That's true .. And there's a lot of crance up in melb and Bris CBD right now.

 

Can it go any lower? Many places still in the red since the GFC.

 

Maybe it will be after the Sydney ripple reaches Canberra, and then go out that way.
Who knows really.

 

Nice list.

Glad that Park Ridge QLD 4125 is not listed there.

 

Not the worst, yay!

 

yes that's a relieve mate....

 

Hi Tekoz,
Not the worst purchase.
A bit of friendly advice....
Can I suggest you pick up and read a lot of books and articles (not from a spruiker!) on property investing before embarking on your next purchase? Keep using the forum but also read the books.
Many good books have been suggested on the forum. It should help guide you. And I don't know if you go to any meetups but they are worth going to as well. A good hour or half hour of face to face conversation with a few seasoned investors can make it really clear in your mind as to what to focus on next. Wishing you success...

 

Perth, overpriced at the mo, and mining boom is slowing.

 

... as long as they talk about the OTPs...

 

Noice...are yours mostly regional?

 

Nathan, is that you?

Note to the person that said no one else here looked at these types of properties.

 

Nathan Birch ?

 

I would mostly agree with this...although its not the worst area.
I think its still got more to fall. May reach the bottom towards end of 2016- don't know.
Sentiment and reports from analysts point to further falls in iron ore. That certainly cant be good for perth and anyone else who has exposure to that commodity.
Compared to what else you can buy with equivalent $, there are better buys than perth.

 

Common @Gockie .....why would property investors ever want to read books on property investment.....?? Doesn't make sense to.

 

Just came across a fire damaged property on a sub div site in Melb in good suburb. And saw ur post and also thought abt Nathan birch still remember him from 2008 in ss

 

Hi Gockie,
I find the forum is very helpful with great people indeed. I put one under contract to settle at the end of Jan for my 1st IP in runcorn. I am looking for another one or two but struggling whether to invest in bris or nsw. With the one in runcorn, i have everything ready to go including PM to manage the property the only thing missing is to get the depreciation schedule. Not sure where to go apart to BMT, any recommendations would be great.