This week I had two almost identical conversations about property with people at my work. Both of them told me that I was lucky to have investment properties because property now is impossible to buy. It’s just too expensive, there’s no way in. The good news is that it’s simply not true. There are properties around Capital Cities for less than $300,000. If you’re willing to look further you can still find properties for less than $200,000. The even better news is that a lot of these properties offer positive cash flow returns.
What’s even better is that you don’t need anywhere near this kind of money to start – your deposit need only be around 20% of this figure!
The lesson to be learned is that you don’t have to look in the traditional places for your investment properties. Of course you have to do your research, but I can assure you they are out there. I know, I see them every week. And guess what, I have never bought a property for more than $300,000.
So even if you have a small deposit, or little equity, go and see a reputable broker. You might find you have enough money to start your property portfolio.
And that’s when the real fun begins.