Hay, NSW

[Cherry Pro]

Hi All

A friend is considering a property investment in Hay .. purchase under $100k, quick refinance and pull out capital ...within 3-4 months for a profit of close to 18% of capital involved.

Wikipedia says Hay is a town in the western Riverina region of south western New South Wales, Australia. It is the administrative centre of Hay Shire local government area and the centre of a prosperous and productive agricultural district on the wide Hay Plains.

Does anyone here invest in Hay ? Any compelling reasons not to get into that market besides the population being under 10,000.

Thanks

 

[WillG]

What capital growth potential does the town have?

can you explain how/why this would work? "purchase under $100k, quick refinance and pull out capital ...within 3-4 months for a profit of close to 18% of capital involved."

 

[buster]

Whats Hay got going for it? Wool industry in decline, Horticulture reeling with unregulated dumping from overseas, while burdened with regulation and high costs and labour shortage, dry land farming very marginal, surrounded by an abundance of cheap land. Water shortages. I cant see anything to drive any CG in residential investing, but it probably has some of the cheapest farm land in the world, which has the potential for good gains if A$ continues to fall and anticipated food shortages eventuate. $300 an acre for irrigated land that in other places could be worth many thousands of dollars, may prove to be an opportunity of life time.