Lismore NSW

[RyanB]

Hi everyone,

doing my usual RE.com scanning and have come by 4 - 2x1x1 brick units in east lismore.

The block looks like it could be improved with potential for landscaping balconies, courtyards etc.

- Can you as the owner of a total block add balconies/courtyards etc to title when selling off individual units?

- and whats your thoughts on lismore? Very stagnate growth, with units showing little growth growth over 5 years, but living in sydney, with things the way they are, knock on effect?

- going on the "offers above" its returning 6.5%

- add on 10% "offers above" still in the high 5%'s

 

[Brady]

Not enough yield for 'potential growth'.

 

[Mooze]

Check floodmap and talk to local cops about East lismore.

 

[strongy1986]

Not enough yield for 'potential growth'.

Correct
Why would you buy units at 6% yield in a town that's goin nowhere

Return Is yield + growth

So for a town with lesser prospects I would want at least 9%
+ 2% growth is 11%

In blue chip you get 9% growth and 2-3% rent

So pretty much the same!!

 

[RyanB]

thanks strongy for explaining that.

Im currently looking for my first IP after some capital has become available to me. still in the research stages, im a builder so im always looking for some way to improve or something that i can make stand out from the pack.

Thanks again for the replies

 

[strongy1986]

thanks strongy for explaining that.

Im currently looking for my first IP after some capital has become available to me. still in the research stages, im a builder so im always looking for some way to improve or something that i can make stand out from the pack.

Thanks again for the replies

Well if your a builder you should be easily able to make a bucket by investing in property
If I was a builder I would be buying blocks of land and building rows of units

Use your capital wisely because once it's gone it could take years before you have the same opportunity

 

[Shahin_Afarin]

Hi everyone,

doing my usual RE.com scanning and have come by 4 - 2x1x1 brick units in east lismore.

The block looks like it could be improved with potential for landscaping balconies, courtyards etc.

- Can you as the owner of a total block add balconies/courtyards etc to title when selling off individual units?

- and whats your thoughts on lismore? Very stagnate growth, with units showing little growth growth over 5 years, but living in sydney, with things the way they are, knock on effect?

- going on the "offers above" its returning 6.5%

- add on 10% "offers above" still in the high 5%'s

Sydney to lismore - thats a hell of a knock on effect no?

 

[RyanB]

Well if your a builder you should be easily able to make a bucket by investing in property
y

I'm currently halfway though renovating my first investment, a 3 bed terrace in darlington sydney. With the market the way it is im looking toward a handsome profit come the christmas auction rush this year.

i intend to turn the profit into another PPOR ripe for renovation whilst using un related equity to feed one or 2 side investments, hence the questions regarding the lismore property.

 

[RyanB]

If I was a builder I would be buying blocks of land and building rows of units

The available capital i have is not in the 10's of millions

 

[strongy1986]

The available capital i have is not in the 10's of millions

There's more to AUS than Sydney

You can make money in any market

Especially as a builder

Why compete against a thousand others in Sydney?

 

[RyanB]

There's more to AUS than Sydney

You can make money in any market

Especially as a builder

Why compete against a thousand others in Sydney?

Hence asking SS-ers about the above property in lismore,
hence researching
hence learning from feedback
hence looking outside sydney
hence looking in other markets

thanks for the feedback mate

 

[C-mac]

A bit naive I know, but what are the major economic market drivers for Lismore? It's never been on my list but aside from the annual Gay Parade of 'Tropical Fruits', I know little about the economy of Lismore.

 

[willair]

Hi everyone,

doing my usual RE.com scanning and have come by 4 - 2x1x1 brick units in east lismore.

The block looks like it could be improved with potential for landscaping balconies, courtyards etc.

- Can you as the owner of a total block add balconies/courtyards etc to title when selling off individual units?

- and whats your thoughts on lismore? Very stagnate growth, with units showing little growth growth over 5 years, but living in sydney, with things the way they are, knock on effect?

- going on the "offers above" its returning 6.5%

- add on 10% "offers above" still in the high 5%'s

I would do your homework on the entire area,you go up the road too Nimbim you can buy in the entry and exit in the main street comm property but with house each side of the shops for 350k,then go up the road to UKI,,several of those company titles 25% shares set up in the early 1970's come up every now and again,i heard about one 25% share from one of those company tenants in common last week,both parents have passed away the daughter does not want the property,75 k walk in walk out and that was for 25 acreas with a 2 bedroom old tin humpy complete with squatters that have been there for 3 years..just think outside the box..

 

[Encarta]

A bit naive I know, but what are the major economic market drivers for Lismore? It's never been on my list but aside from the annual Gay Parade of 'Tropical Fruits', I know little about the economy of Lismore.

University, agriculture, small gov sector. Houses a small low socioeconomic population.
Good yields in share uni accommodation, growth between Ballina and gonnellaba with families being priced out of Byron

 

[moses]

I currently live in Lismore

in my honest opinion, the area is good for lifestyle/ family - being that is a very friendly community, lots of parks, is close to nice beaches & a 1.15min drive to the gold coast. If you were thinking about purchasing because you wanted a change for family reasons, i would strongly suggest it.

However, i wouldn't (personally) invest here because the area hasn't moved much in a long long time. It has a university here which is decent, but i can't see it becoming much more than it is now. There is a ripple effect from Byron Bay, which made prices in Bangalow sky rocket.. & atm Clunes is doing the same - which is 15km from Lismore.

in particular, East Lismore is a good area so to speak. Generally out of flood zone, the Uni is in east lismore (so easy to rent out properties to students) and has a nice feel about it.

If you need any extra advice, let me know