Hi, Everyone
I am a beginner in PI and currently looking for my first investment property. I am looking at a bloke of 4 units in Cannons Creek in Porirua. The rental return is quite good but of course the house need to be renovated first. To be honest, I don't like that area and feel unsafe when i drive there. I will need to get a property management company involved, so i called a few and asked about the market and rental situation. They said that the street where those units are aren't the best but not the worst. One lady even told me that she has IP on the same street for many years and had no problem to find tenants.
Here is some numbers:
3bm *4 units
Asking price 350k
rates $5680
rent per week $220-$240
Any suggestion would be very appreciated!!!
I am a beginner in PI and currently looking for my first investment property. I am looking at a bloke of 4 units in Cannons Creek in Porirua. The rental return is quite good but of course the house need to be renovated first. To be honest, I don't like that area and feel unsafe when i drive there. I will need to get a property management company involved, so i called a few and asked about the market and rental situation. They said that the street where those units are aren't the best but not the worst. One lady even told me that she has IP on the same street for many years and had no problem to find tenants.
Here is some numbers:
3bm *4 units
Asking price 350k
rates $5680
rent per week $220-$240
Any suggestion would be very appreciated!!!
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