Condobolin NSW
- Thread starter jbeena81
- Start date
There is still some mining going on in the area though not as much as before. May pick up again. Don't know really.
Have you been to Condo? It's a great place to get away - like really escape.
There's a large Aboriginal community and a mission nearby. There's a river. There's long grass, dead kangaroos on the side of the road.
Have thought about it as an investment but I think it's a little early. A lot of people come and go and you might have trouble keeping up with tenants.
But I do love Condo.
Can I ask what piques your interest?
Have you been to Condo? It's a great place to get away - like really escape.
There's a large Aboriginal community and a mission nearby. There's a river. There's long grass, dead kangaroos on the side of the road.
Have thought about it as an investment but I think it's a little early. A lot of people come and go and you might have trouble keeping up with tenants.
But I do love Condo.
Can I ask what piques your interest?
Well not surprising - that's good return. I guess that's when places were hard to get and there were lots of miners around.
You might still be able to pull it off - but what would you do when the miners leave?
Don't get me wrong - have thought of it myself. You get a good country house for less that 100K. Could always live there!
You might still be able to pull it off - but what would you do when the miners leave?
Don't get me wrong - have thought of it myself. You get a good country house for less that 100K. Could always live there!
jbeena81,
Just thinking a bit more about this - there are other workers, not just miners, who need to rent in Condo.
There have been a few colleagues of mine who couldn't find accomodation there - they might've stayed longer if they hadn't had to live out of a hotel.
Maybe you're right.
Be aware of what you're getting into though. There are reasons why a lot of people won't buy IPs there. Transience ...
Would be interested to know more about your friend's experiences: has she/he had many vacancies? tenant troubles?
Wattle
Just thinking a bit more about this - there are other workers, not just miners, who need to rent in Condo.
There have been a few colleagues of mine who couldn't find accomodation there - they might've stayed longer if they hadn't had to live out of a hotel.
Maybe you're right.
Be aware of what you're getting into though. There are reasons why a lot of people won't buy IPs there. Transience ...
Would be interested to know more about your friend's experiences: has she/he had many vacancies? tenant troubles?
Wattle
I know someone who moved out there a few yrs back. Some small towns can actually have great tenants due to teachers, nurses, ambulance officers, state gov and council workers etc etc, all have reliable employers and many have points schemes so spend a few yrs out there and return (e.g. teachers then you have access to transfer to the best schools in the state.) it can be a good career move for those prepared to travel for a while and see another kind of lifestyle. Obviously many of those kind of tenants won't buy unless they fall in love with the place and want to stay for good.
FYI current vacancy rate in condo is 0.5%
As to whether it makes a good investment? Thats a bit more complex and individual. The small towns in western NSW do represent some opportunities in my book but the risks are real and one should understand them prior to purchasing. Predicting growth is really tricky.
FYI current vacancy rate in condo is 0.5%
As to whether it makes a good investment? Thats a bit more complex and individual. The small towns in western NSW do represent some opportunities in my book but the risks are real and one should understand them prior to purchasing. Predicting growth is really tricky.
