I am considering the following strategy for investing into property
1) Buy properties that have a decent yield in regional towns (population of at least 5,000)
2) Buy properties that I can buy for at around $150,000 max (at least at 1st stage)
3) Buy properties that have at least 2 bedrooms (aprtments, units or houses are fine)
4) Do not buy new property. However do not buy complete dumps that people cannot live in without a renovation.
5) Buy in different states in Australia.
My aim is to be buying properties for 20 years. While I would love capital growth, I don't have much faith that I can pick capital growth better than anyone else. I am not a builder or a handyman so I do not want to consider developments.
My aim is in 30 years (yes 30) is to have no mortgages with the total properties earning at least $1,500 a week (in today's money) before expenses.
I have the following questions
1) Is there a resource that shows average rents in a certain area for at least the last 20 years. I can get these for average price, but struggling with rent.
2) I am interested in hearing from people that are following a similar strategy regarding tips and pitfuls.
3) Any other comments are welcome.
1) Buy properties that have a decent yield in regional towns (population of at least 5,000)
2) Buy properties that I can buy for at around $150,000 max (at least at 1st stage)
3) Buy properties that have at least 2 bedrooms (aprtments, units or houses are fine)
4) Do not buy new property. However do not buy complete dumps that people cannot live in without a renovation.
5) Buy in different states in Australia.
My aim is to be buying properties for 20 years. While I would love capital growth, I don't have much faith that I can pick capital growth better than anyone else. I am not a builder or a handyman so I do not want to consider developments.
My aim is in 30 years (yes 30) is to have no mortgages with the total properties earning at least $1,500 a week (in today's money) before expenses.
I have the following questions
1) Is there a resource that shows average rents in a certain area for at least the last 20 years. I can get these for average price, but struggling with rent.
2) I am interested in hearing from people that are following a similar strategy regarding tips and pitfuls.
3) Any other comments are welcome.