Best place for positive cashflow regional NSW
- Thread starter newbie14
- Start date
Add Albury to the list.
Here is what I was referring to about Wagga Wagga.
http://somersoft.com/forums/showthread.php?t=82148&highlight=wagga+developments&page=2
Courtesy of Brady
"Done some more research on Wagga, few bits and peices i've found so far.
- $58M logistics hub ($14.6M funding announcement june 2012)
- $282M redevelopment of Base Hospital (2010-2015)
- $3.3M day surgery (2010-2015)
- $2.8M medical clinic (2012-2013)
- $3.4M assisted living facitily (2011-2016)
- $60M Renewed Metal Technologies (2011)
- $63M Stage 1 for Riverina Oils & Bio Energy, 65 jobs(annual revenue $125M)
- $3.4M calvery hospital drug & alcohol
- Bowmen business park contributes $64M and 260 employees
- One of Australia's largest and fastest growing cities, population ~63000
- Young population, assisted by University & Tafe
- Unemployment rate ~5.5%
- International Motel, Lake Albert Road $8.5M
- Murrumbidgee Mill, Edward Street $20M
- Masters Home Improvement, Hammond Avenue $23M (to be completed 2013)
- NBN rollout 2013
- Wagga Wagga is an Evocity, NSW largest growing inland city
- Defence force base
- Possible $400M trade centre to be invested by Chinese "
http://somersoft.com/forums/showthread.php?t=82148&highlight=wagga+developments&page=2
Courtesy of Brady
"Done some more research on Wagga, few bits and peices i've found so far.
- $58M logistics hub ($14.6M funding announcement june 2012)
- $282M redevelopment of Base Hospital (2010-2015)
- $3.3M day surgery (2010-2015)
- $2.8M medical clinic (2012-2013)
- $3.4M assisted living facitily (2011-2016)
- $60M Renewed Metal Technologies (2011)
- $63M Stage 1 for Riverina Oils & Bio Energy, 65 jobs(annual revenue $125M)
- $3.4M calvery hospital drug & alcohol
- Bowmen business park contributes $64M and 260 employees
- One of Australia's largest and fastest growing cities, population ~63000
- Young population, assisted by University & Tafe
- Unemployment rate ~5.5%
- International Motel, Lake Albert Road $8.5M
- Murrumbidgee Mill, Edward Street $20M
- Masters Home Improvement, Hammond Avenue $23M (to be completed 2013)
- NBN rollout 2013
- Wagga Wagga is an Evocity, NSW largest growing inland city
- Defence force base
- Possible $400M trade centre to be invested by Chinese "
And not many agents that will manage it for you if recent threads about PM's not taking on any more trashmont listings is anything to go by
Wow nasty was their asking price realistic?
The numbers are good in Ashmont but you also need to allow a buffer to cover a sometimes significant vacancy between tenants. Is one of the most undesirable areas to live in wagga. Pick your street carefully then cross your fingers it doesn't take too long for a tenant to be found. Thankfully my tenant decided to stay on in my supposed haunted house so I don't need to worry for at least another 12 months now.
What I did on the advice of local agents and locals was not to purchase in ashmont or Tolland but go look at the next two suburbs above. Mount Austin and Koorongal... Both can still buy cheap with good yield without as much issues with finding a PM and a tenant (note their are still bad streets in these suburbs so best ask a PM if there is issue where you're looking)
What was purchase price?
My Mount Austin was purchased for $216k and rented from day 1 after settlement $315p/w
As mentioned above went different suburbs after hearing of tenants and tenancy issues.
Cheapest 3bd in Tolland I can find is listed at 157k.
Maybe just a lack of listings, or is this market moving?
Tempted to off load a place in Tolland if the money is there.
Putting a new tenant in this week....maybe good timing to list before the place gets trashed and they fall into arrears
Maybe just a lack of listings, or is this market moving?
Tempted to off load a place in Tolland if the money is there.
Putting a new tenant in this week....maybe good timing to list before the place gets trashed and they fall into arrears
