Plus and Minus about Junee NSW

[kvellimalai]

Hi
I was just doing bit of research for my next property and found Junee was bit cheaper and give a good return. Property worth around 150K gives a rental return of 180 per week.
what is your thoughts on it.

My objective is to get positively geared property with moderate capital gain (high will be desirable).
My budget is around 300K and looking only house with land.

Regards
velli

 

[mikezen]

Not sure about property but I know the lamb is very good from there

Junee gold lamb backstraps with the fat cap left on is really
Something. Hard to obtain though

Marinate in rosemary garlic and olive oil, good quality sea salt and white pepper, then caramelise in a pan skin side down till fat is crispy and succulent, finish off in the oven till med rare, rest for 15 min then carve, make a jus from the leftover pan deposits with a good red

Bon appetite

 

[strongy1986]

$180 a week on a 150k purchase

That's not even close to cash flow positive

One thing you should think of - the lower the cost of the property the higher the yield required to make it positive as your expenses will be proportionately higher

Do the sums

 

[datto]

You got a correctional facility at Junee. You have to factor that in.

 

[WattleIdo]

... and an abbatoir nearby.

Not sure why I hear Junee mentioned so often - nice little old town I s'pose. But there are plenty of other more vibrant and attractive towns in the Central west with better numbers than those.

 

[Jamie M]

It's the home town of Laurie Daley - an NRL legend.

Cheers

Jamie

 

[kvellimalai]

... and an abbatoir nearby.

Not sure why I hear Junee mentioned so often - nice little old town I s'pose. But there are plenty of other more vibrant and attractive towns in the Central west with better numbers than those.

Hi WattleIDO
Can you please specify which towns are in Central West with better numbers?
I am keen to get my next IP in that region.

Regards
Velli

 

[Richard Feynman]

It's a pretty small town. I used to pass through it often as a kid.

I wouldn't personally invest there. If a property became vacant, it might stay that way for quite some time.

 

[WattleIdo]

Velli,

the Central West:

Well, a Bunnings is just opening up soon in Forbes - nearly finished putting it together. Forbes had some flooding last year and though it's 'pretty', it's got a small town mentality and all that goes with it. Mining - gold - comes and goes. The numbers are pretty good there I believe - worth some research.

Then there's Dubbo - a Margaret Lomas recommendation a few years back. From what I read on this forum, it's making some small progress, rent not bad. I remember looking at prices a few years back and was surprised they were so cheap. Also worth checking out.

Cowra - small and quiet - but really is very pretty. Dirt cheap. Not much council action, maybe. But it has hairdressers, beauticians, cafes, etc. IXL closed down a year or two ago - lots of unemployment.

Young has apparently been recommended by Lindeman, so numbers must be good. Not as vibrant as other places.

I live in Parkes and am seriously considering buying here though there has been a steady increase in house prices for about 10 years. Still, bargains are around.
To be honest, don't want to talk it up too much because I haven't bought yet. There are people doing serious renos here though. I feel it has something going for it.

Orange is simply beautiful and buzzing. But if you check out a few threads, you'll see that people are having trouble getting tenants. I think it's been like this for a few years now. Lots of baby boomer ladies walking around town. On the other hand, some of the roughest areas too. If I had a job in Orange, I'd seriously consider buying an ex houso, though I would worry about my pets there.

Then there's Bathurst. There's been so much said about Bathurst that I thought it must've taken off beyond my reach by now. But when I had a quick look on rea.com I saw that it hasn't really gone anywhere lately. So still time to get in there.

If I could, I'd buy a place in each of these towns - especially Parkes, Orange, Bathurst. But I really don't know what I'm talking about ... it's just a feel I get from these places.

I can't really afford to buy anything just yet so haven't done much research.

Now that I've given my opinion, can I ask why it is that you're thinking of buying in the Central West?

Wattle