Looking to invest $250-300k, having trouble with the where part.

[james_w]

I was looking at Blackwater and Dysart Queensland,
Prices are down at the moment cause of the the mine slowdowns.Very high rentals,and most come with a lease signed already. Dysart rental is normally $1100 week for buys around the $300K-350K.If you need more info or a local to call,PM me

hmm I just reread this post and you are finding propeties that are rented for $1100 a week on a lease for 300-350k I havent seen any of these on rea so where are these gems? lol

 

[Pa1nter]

I grew up in blackwater and know what happens when mines go belly up
with that said I was quite suprised it has kept going this long plus mum says it's all gonna go to hell few months back blackwater as always had mini booms and busts this one seems to be the mother off all of them so far still going damn knew I should of bought them houses when was 18 no one wanted

I think the houses for sale in those areas are from people who have moved from the area and want to close that chapter of their lives."Fact" is the rental returns are paying for the property to cover the busts
I was born a little further out at Barcaldine, My brother is out at Dysart as we speak.

 

[james_w]

I think the houses for sale in those areas are from people who have moved from the area and want to close that chapter of their lives."Fact" is the rental returns are paying for the property to cover the busts
I was born a little further out at Barcaldine, My brother is out at Dysart as we speak.

small world was born in longreach well halfway between blackall/longreach lol

 

[Pa1nter]

hmm I just reread this post and you are finding propeties that are rented for $1100 a week on a lease for 300-350k I havent seen any of these on rea so where are these gems? lol

A little example,
Remember it is a down turn,houses are selling lower,renting lower ,however normal is around $1100 per week.Beware of Leasehold properties

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=75628650&s=qld&tm=1260350438

 

[Pa1nter]

small world was born in longreach well halfway between blackall/longreach lol

Halfway between Blackall and Longrech is Barcaldine? l spent 5 years pro shooting at Aramac/Muttaburra

 

[james_w]

A little example,
Remember it is a down turn,houses are selling lower,renting lower ,however normal is around $1100 per week.Beware of Leasehold properties

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=75628650&s=qld&tm=1260350438

yeah seen this one by the time I talked to the bank and got the big boss onboard it was a gonna

 

[Pa1nter]

yeah seen this one by the time I talked to the bank and got the big boss onboard it was a gonna

Do You want a Bargain for yourself?
Nearly half build cost price??

 

[james_w]

Halfway between Blackall and Longrech is Barcaldine? l spent 5 years pro shooting at Aramac/Muttaburra

you would probably know my family then alot of them were roo shooters yeah I officially was born in longreach parents lived in blacakll born in ambo on the way to longreach hospital and everyone knows my gran mrs mac from blackall school anyway should probably stop hijacking the thread sorry investor congrats on the 2mill mark
pm me if ya want painter not going to share my full name on a public forum for obvious reasons

 

[Jamie M]

Thanks everyone.

After a very long search, I've purchased a 3 bedroom villa with a yield of 6% in a high capital growth area on the Gold Coast.

I couldn't bear to purchase in a small country town but almost did out of sheer desperation.. I came to my senses eventually though

I've now hit the $2Mil mark! I never even dreamed I'd get this far so soon, it's a great feeling.

Cheers and thanks again

Congrats on the purchase - where abouts on the Gold Coast did you buy?

Jamie

 

[forumite]

I've had a quick look at Orange (nothing too in-depth) and still can't put my finger on why this is a so-called "hot-spot". From what I understand, it's a crime ridden two-tier society of poor druggies and rich snobs (apologies to those from Orange - it is a hugely generalised statement). I know there's some mining going on...but is there anything else that backs up these claims?

Is this what you are looking for?

http://news.theage.com.au/breaking-...mine-expansion-near-orange-20100108-lyht.html

Planning approval has been granted for a $2 billion expansion of the Cadia Valley gold and copper mining complex near Orange, the NSW government says.

The project, which will be the largest underground mining operation in Australia and the second largest gold mine in the world, is expected to deliver more than $1 billion into the local and regional economies.

In addition, it will support more than 2,000 jobs in the state's central west.

 

[Jamie M]

yep, that's what I was looking for

Cheers,

Jamie

 

[65fbk]

A little example,
Remember it is a down turn,houses are selling lower,renting lower ,however normal is around $1100 per week.Beware of Leasehold properties

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=75628650&s=qld&tm=1260350438

Pa1nter,
Can you tell me why the one you linked and a couple of others on RE.com have ~10% return, but others sometimes in the same street only rent at 5-5.2% ??

It appears the ones that are leased to the mining co. have the high returns, but why is the mining co. paying rents so much higher that individuals?

 

[Pa1nter]

Pa1nter,
Can you tell me why the one you linked and a couple of others on RE.com have ~10% return, but others sometimes in the same street only rent at 5-5.2% ??

It appears the ones that are leased to the mining co. have the high returns, but why is the mining co. paying rents so much higher that individuals?

For an accurate answer you probably need to talk to someone who is renting long term to the mines for that.
I believe because of the downturn,private rents are down.
I have it on good authority that normally they are rented around the $1100 week mark.When that rent come back is anyone's guess
Remember by then the purchase price will probably be in the 500-600K again.

 

[Aazar]

well you need to consider whether the mining company actually signed a long lease before the big crash. In that case they'll have to keep paying the 10% rent even if they don't like it.

Usually private renters only have a 1 year lease so they would have gotten out a long time ago

 

[Pa1nter]

well you need to consider whether the mining company actually signed a long lease before the big crash. In that case they'll have to keep paying the 10% rent even if they don't like it.

Usually private renters only have a 1 year lease so they would have gotten out a long time ago

New leases are being signed as we speak.
http://www.realestate.com.au/cgi-bi...r=&cc=&c=28523032&s=qld&snf=rbs&tm=1263184364