About Sth Grafton
I have had and still have several investment properties in Sth Grafton. The area is rural, but Grafton/South Grafton is HUGE. I have never had problems with waiting for tenants to sign up. Though I do self manage a couple of my places, I would on the whole advise against it here, and say go with a property manager, especially if you are not reasonably local yourself. I think there are more pros than cons buying in Sth Grafton. The property market is now beginning to move (April 2014.) Houses have risen about $20,000 I would say recently. So interested buyers would be advised to buy soon. Four years ago I sold a place (a nice ex housing comm.) which I had owned for about 5 yrs, and made a clear profit of $22k. It had been constantly rented during that period.
If I had waited till now, I probably cld have doubled that profit. Nevermind. Well that's the way it goes. I wanted the money then. The point is, South Grafton is popular with investors because the purchase prices are very reasonable, and the rent returns are great. Yes, like any country town, you have to be prepared to wait to double your purchase price, BUT the great thing is, in the mean time, you will receive good rents and if you use a property mgr, less likely to get a bad tenant, which afterall, are found everywhere. At the mo I have some very good ones.
