Bathurst?

On Your Money Your Call, Bathurst was picked as a good area to invest in. I've had a look at the council website and there is centainly a lot going on there, prices are in our range and rental yields are high 5's to 6% with low holding costs.

I was just wondering what other opinions on this area are?
 
API & YIP Hot 100

Hi. I am looking into Bathurst for next IP since it is our price range and also listed as hot 100 in both API & YIP.

I would like to know which area is best for buy, reno and hold.
Any other opinion would be greatly appreciated!
 
prices are in our range and rental yields are high 5's to 6% with low holding costs.
I did look at Orange and made a few offers but haven't been succesful so far.
It will have to be the right price for me or I won't buy because I can easily get such yields in Sydney
 
What? No! Orange, Ohio. Why would anyone talk about Orange, NSW? Pffft!

Really? Orange has undergone a massive turnaround and is now a major regional city in its own right.

Mining and agriculture are still huge but the economy is now also focused on medical and education.

Yields are good, growth is good and it is a really pretty area that is great for families.

Once they finalise their water supply for the summer months, there is really nothing stopping it. Council are waiting for the minister to approve their new LEP which will see even more growth.

And to that I have made investments in the area and am pleased with the results to date.

Bathurst has also got potential but personally I would not touch Kelso like Margaret Lomas keeps commenting on.
 
Really? Orange has undergone a massive turnaround and is now a major regional city in its own right.

Mining and agriculture are still huge but the economy is now also focused on medical and education.

Yields are good, growth is good and it is a really pretty area that is great for families.

Once they finalise their water supply for the summer months, there is really nothing stopping it. Council are waiting for the minister to approve their new LEP which will see even more growth.

And to that I have made investments in the area and am pleased with the results to date.

Bathurst has also got potential but personally I would not touch Kelso like Margaret Lomas keeps commenting on.

Good post, Chilliblue,
I'd say Orange and Bathurst were very similar in where their markets are at. Recent growth, but imo, a lot more to come.
If you want somewhere undervalued in the Central West, I'd look at Dubbo! Everything Orange and Bathurst have (apart from a mine - but i hear one is in the works) and growing well. Also no water issues, as they pump water from underground!
 

Interesting indeed. Makes you wonder even more about furnishing! I did this almost by accident (with an Alexandria NSW 2 bedder apartment), purchasing near-new furniture of a quickly departing tenant and making the cost of it back in one year's additional rent. I 've kept rent increases to an average of around 6% annually since, and the tenants have been there 3 years and are still going strong.

I imagine that fully furnished appeals to these more highly-mobile mining types, particularly if they're likely to have a PPOR in the city and are getting company-subsidised rent. Perhaps Orange can be a real gold mine for the canny?
 
I am staying in Orange at the moment, working at the cadia mine.

The company I work for are paying between $800 to $1100 a week for furnished and serviced houses. Not sure how much more rent you would receive for providing a serviced/cleaned house once a week. But with doing 12hr days it is great to come home to a cleaned house!
 
I'm sure furnished places would rent well in Bathurst especially if they're convenient for the CSU students. Real uni town isn't it?
 
Interesting indeed. Makes you wonder even more about furnishing! I did this almost by accident (with an Alexandria NSW 2 bedder apartment), purchasing near-new furniture of a quickly departing tenant and making the cost of it back in one year's additional rent. I 've kept rent increases to an average of around 6% annually since, and the tenants have been there 3 years and are still going strong.

I imagine that fully furnished appeals to these more highly-mobile mining types, particularly if they're likely to have a PPOR in the city and are getting company-subsidised rent. Perhaps Orange can be a real gold mine for the canny?

Yep, yep! The current minor reno in orange will be either furnished or serviced, once I've had a chat to a few of the agents who deal with these. Should be rented out in 6 weeks - fingers crossed. I'll post figures etc when it's all sorted.
 
Yep, yep! The current minor reno in orange will be either furnished or serviced, once I've had a chat to a few of the agents who deal with these. Should be rented out in 6 weeks - fingers crossed. I'll post figures etc when it's all sorted.

Keep us posted. This is indeed a close-to-home CF+ option I'd never even considered (but I'm not exactly exhaustive so much as exhausted undertaking research). Happy to jump on the train though!
 
Keep us posted. This is indeed a close-to-home CF+ option I'd never even considered (but I'm not exactly exhaustive so much as exhausted undertaking research). Happy to jump on the train though!

I'll shout you a coffee if you jump on the XPT!
(GFC and all - you know how it is... ;) )
 
I'll shout you a coffee if you jump on the XPT!
(GFC and all - you know how it is... ;) )

What I want to see is a Bullet Train system across the whole country that sings alongs at 250k plus like they've got in Japan. Man, that's cool! Of course, they don't have roos in Japan, which could be a minor complication, but heck would it be a change from the 19th century embarrassment we boast today. Lithgow, indeed!
 
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