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I am looking for some advice from anyone who has purchased an IP in the Lower Hunter Valley area. I'm researching the area and would like any feedback from anyone who has.
Thank you! All help is appreciated. I was looking around the Rothbury, Branxton and Great area but I'm open to any suburb that has a yield.
Hi lisag, now you are stretching the friendship. I'm not giving away all my secrets for free. This is how I make a livingHi Propertunity,
What about the DHA in this area?
What suburbs ar they focusing on?
There are some older style places around cessnock etc on larger blocks to renno, and subdivde and new build etc.
Thank you! Singleton was one of the areas that I was looking at. The comment had been made that the area was desperate for rental properties. I thought that may be the case.
Just bear in mind that the trend over the last few months has been for a slightly higher rental vacancy rate.
Thank you! You are just a wealth of information... so much to learn. Off to an invetment course next week, so hopefully I will be armed with more insight.
Thank you propertunity!
Stick the stabby end in the heart of the Newcastle University in Callaghan and draw yourself a circle. Inside that circle is some of the best yield I can find. It is in high demand - constant supply of Uni students - lots of foreign Uni students whose parents pay too. Typical Uni students have no car - need to walk to Uni and will do so for 800m to 1km max.
Thank you! You are just a wealth of information... so much to learn. Off to an invetment course next week, so hopefully I will be armed with more insight.
On paper, that is a nice yield.
University has long holidays though, from October-November to February, so is there ever any trouble with finding tenants for this period, or having tenants not pay during this period?
Love it!Branxton has already had huge cap. growth. Also it benefits from the newly announced extension to the F3 freeway.
If you are after yield, get yourself a compass - not one of those things that points North either - one with a stabby pointy thing at one end and a pencil in the other - for drawing circles with - like you had in school.
Get a map of Newcastle and suburbs. Go to the scale on the bottom left hand side of the map and set the compass to measure 1,000 metres (1km).
Stick the stabby end in the heart of the Newcastle University in Callaghan and draw yourself a circle. Inside that circle is some of the best yield I can find. It is in high demand - constant supply of Uni students - lots of foreign Uni students whose parents pay too. Typical Uni students have no car - need to walk to Uni and will do so for 800m to 1km max.
For brand new stuff - work on $140 per room
For decent 2nd hand stuff - $130 per room
For dumps - $100 per room
You don't rent per room - but you calculate the weekly rent that way. Lease is done in standard way to one person who is responsible.
i.e. 3 brm house = $130 x 3 = $390pw
That house will cost you $290K-$320K to buy.
If you can get 4brm (has to have 2 bathroom) .........well you do the sums.
Buy one, then get outta town and leave me the rest
Just bear in mind that the trend over the last few months has been for a slightly higher rental vacancy rate.
http://sqmresearch.com.au/graphs/graph_vacancy.php?mode=/&postcode=2330&t=1
Now, I'm off to buy me some Newcastle.