Quote:
Originally Posted by OneHungLo
I'm just using that 25% as an example of buying in the bubble. My other properties from 2002 and on are up 200%+
And what do you mean by " 1/2 the investment apartments sold here.. don't even bother to get tenants"..I'm confused. Why would you buy an investment property and not fill it with tenants?
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speculative buying rather than long-term investing, tenants are to much hassle, average here for a say a 2 room apartment is 900k most suburbs get 10-20% growth a year, so your making 100k+ a year just from that. Put a tenant in there and you make anther 30-40k a year but it limits when you can sell, and the condition the place is in, figure in 20k for a quick freshen up of the place.
For a lot of investors it's just not worth it, better to run it empty and flip for another one.
Here's my suburb for ya
https://www.realestate.com.au/invest...eray,+nsw+2062