anyone invested in moranbah ?
- Thread starter james_w
- Start date
I started researching into Moranah last week both rents and priceses have dropped signigicantly compare to a few months ago. Rental market is over 200 on realestate.com.au. Rents are now as low as $400 for a 3 bedder. Need to do more research on the number of projects that are in the planning. I think the drop in coal prices also took a hit. Comments from like minded investors have already invested in Moranbah would be greatly appreciated.
Cheers
Cheers
Very risky area IMO. Rents are dropping because the company refuses to pay, hence the high vacancy rate (despite solid demand). Prices are dropping as a result.
Add to that that about half the lenders have incredibly restrictive policies or flat out won't consider any rent from the area, it's very difficult to get finance. This will likely adversely affect your borrowing ability both now and in the future, regardless of how good the cashflow actually is.
Add to that that about half the lenders have incredibly restrictive policies or flat out won't consider any rent from the area, it's very difficult to get finance. This will likely adversely affect your borrowing ability both now and in the future, regardless of how good the cashflow actually is.
Dysart
We had a place in Dysart a few yeas ago. Sold out and made a solid profit. Now have a place in Cobar NSW. Entry price similar to Dysart and Moranbah before it took off. Rents showing 8.5 - 10% return and when I spoke to our rental manager earlier today they had no rental properties left on their books and 23 disappointed clients who missed out the last time a property came onto the market. New mines opening and exploration continuing. Starting to feel like Dysart and surrounds just before it took off. We hope so anyway. Cheers Bullfrog
We had a place in Dysart a few yeas ago. Sold out and made a solid profit. Now have a place in Cobar NSW. Entry price similar to Dysart and Moranbah before it took off. Rents showing 8.5 - 10% return and when I spoke to our rental manager earlier today they had no rental properties left on their books and 23 disappointed clients who missed out the last time a property came onto the market. New mines opening and exploration continuing. Starting to feel like Dysart and surrounds just before it took off. We hope so anyway. Cheers Bullfrog
