Newman, WA

Hi all, I am looking at investing in Newman WA. It has a positive return. I am not in Newman and do not know the environment I may be investing in and am presently relying on real estate agent to give me the facts on the market and tenants. Does any one have any comments to share which may help me decide whether to invest here or not. Cheers
 
Hi all, I am looking at investing in Newman WA. It has a positive return.
Is that the only reason that you are investing there? (I'm not saying that it is no good)

I am not in Newman and do not know the environment I may be investing in
.....groans

and am presently relying on real estate agent to give me the facts on the market and tenants.
.......groans louder. You know that the real estate agent is legally obligated to work for the vendor, not you, don't you? :eek:

Does any one have any comments to share which may help me decide whether to invest here or not. Cheers
At least go there yourself and check it out before you commit $100K's of borrowed money into something you don't know about.:confused:
 
Samantha - there's a lot of money in Newman - a lot of locals form there are buying up metro RE.

i would say get a buyer's agent to secure you a property.

but why Newman?
 
Samantha, I would recommend you fly up here and have a look around before buying. Make appointments with the 2 local RE's and view some properties.

Newman does have a great positive return with current interest rates but house prices seem to be on the up and up recently.

You also need to be careful of the area you purchase in - just because a house is selling for $600,000 doesn't mean it's in a good area.

PM me for more inside info if you want.

I am very happy with my purchase here though, and would buy here again before I looked at Karratha or Hedland.
 
great to get your feedback on my first posting.

My strategy is buy and hold and where possible have a couple of positive geared properties to offset negative geared houses until they become positively geared. I have this opportunity with the yields and capital growth in the NW of WA. It is overcoming the fear factor of investing in a mining town when I saw Ravensthorpe shut down overnight and leave investors devastated.

Where do I find a buyers agent?

I am 4 hours down the road and understand the heat advice.

Thanks to natmarie73. I will take you up on your offer.
 
I would look further into the BHP aspect since they pretty much own this town and find out what they look for to rent out to their contractors. I would stay away from 'East Timor' and go for 'Newman Heights' instead - better quality tenants ie. closer to Radio Hill and quieter, closer to amenities etc.
 
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