Top 3 Highest Yielding Suburbs in Townsville! Where to Look for Cashflow? - With James Nelis

[@biancaprincic4555]

Great episode! Its so hard to find good cash flow areas in todays market.

[@pizzaandproperty1246]

Glad you liked it :)

[@jag651]

Settled on a IP in Deeragun in December, can confirm the lads are spot on 👌🔥

[@pizzaandproperty1246]

Congrats on the purchase dude 🙌🏼😊

[@lovecricket1000]

Thanks guys. Settled on a 3 beeder off maket property in Heatley for 299k. Was tenented without advertising for $420. 7+% yield....

[@pizzaandproperty1246]

Dude that’s awesome!!! Congrats 🙌🏼 Is this the first IP or addition to the portfolio?

[@lovecricket1000]

This is my gf 1st property...super super existed and keep working on adding to the portfolio. We will keep hammering away in Townsville. Not many capital cities in aus where you are able to achieve these yields

[@pizzaandproperty1246]

Mate that’s so exciting! Well done 💪🏼

[@samchapman973]

Hey ! How did you go about finding this property and going through the deal off market ? Congrats

[@lovecricket1000]

Building relationships..was on the phones with Realestate agents for 2 months. That same property can now be rented for $480/week. 8% yeild. The vacancy rate is even lower now.

[@jamestaylor8577]

Annandale is the dream place to have an IP. literally 2min to Lavarak, the hospital and the UNI. Glad I got in early but it's going to boom over the next 10 years. Currently living in Tsv, I get a lot more sense of what's going on. Lots of military coming, lots of projects happening in the next few years...ect

[@pizzaandproperty1246]

Congrats on the purchase mate 🙌🏼 think you might be onto something there!

[@guseva1]

I served in the Army 84-87 as a Sapper based at Lavarack. Here I am all these later preparing to buy an investment property in Townsville. Always had a good feel about the place

[@donaldwayne4219]

@@guseva1 mate, prices have gone up a bit, dunno if you have noticed. Growing in popularity. Wulguru, annandale and faifield waters listings don't last long at all lately

[@johnmorrison6947]

I had a quick look on a property software that we use and all three suburbs are completely flood affected in some way. I’d be interested to hear more about how this is considered by the investment company in question. Great podcast Todd

[@pizzaandproperty1246]

Hey John, yeah parts of these areas are flood effected but there’s a lot of properties that are not when we go down to a micro level, you’ll find sections of these area that are totally fine. 100% best to check things like flooding, fire etc on a property by property basis not a blanket area check as this can lead you to write off areas that actually have solid pockets. Interested to know what software you’re using?

[@johnmorrison6947]

@@pizzaandproperty1246 Using Stash. Their flood maps cover these suburbs entirely (from memory). I know all flooding is not the same so I am wondering if people are getting some of these deals in overland flow paths and are not too concerned with the level of hazard that it presents. Genuinely curious as I have turned away bundles of properties based on these mapping systems

[@johnmorrison6947]

@@pizzaandproperty1246 I have emailed you the maps but there is a 7 day free access on Stash (the software in question). Maybe a topic for another episode….. Great pod as always

[@pizzaandproperty1246]

Thanks John, emailed you back but for everyone’s info here. From what I saw on the stash it doesn’t have any grading just “nothing” or “flood” best to use the local mapping tool I sent you and can leave a link to in this comment if anyone wants it 👍🏼

[@CliffChoo]

Insurance cost itself in Townsville is $3k+ per year, even though the rental yield is high. The outgoing cost is higher hence making the property negative cash flow

[@pizzaandproperty1246]

The insurance cost is totally more expensive, but there's still solid deals out there for near neutral or just positive gear atm. What locations do you prefer atm?

[@CliffChoo]

@@pizzaandproperty1246 settled in Rockhampton 6 months ago

[@pizzaandproperty1246]

Congrats mate that’s awesome!

[@totallyraw1313]

​@@pizzaandproperty1246What’s the yearly insurance cost in Rockhampton?

[@pizzaandproperty1246]

Depends on the property, location and Insurence company. Most QLD Insurence is going to cost more than SA, NSW, VIC etc 100% worth comparing several companies before you make a choice mate 😊

[@M888_KDH]

Anyone know about IDALIA?

[@roaryscott]

North Ward is awesome don't know why it would be down

[@roaryscott]

It's mostly units and townhouses though

[@pizzaandproperty1246]

Yeah fairpoint mate, units and townhouses can really separate opinions in terms of if they're worth investing in. What fits your strategy better higher yield unit or lower yield house?

[@13579john]

There is nothing under 450k in those areas

[@pizzaandproperty1246]

They are getting much more rare to find, but some off market deals are still being pulled together