Hi everyone,
I am considering expanding my portfolio to include properties in mining towns.
I have found many cashflow positive properties in these areas but I have a couple of questions for people who have done this before so I can avoid the same mistakes.
1) What are some tips for identifying a good mining town?
2) How do you know how long a mining town will last (do they close up sometimes)?
3) What would be considered a good return on investment for a mining town area? 12%? 15%?
4) How do I find which companies are mining in the area (eg. BHP? RIO? etc)
5) Feel free to provide input =D
I am considering expanding my portfolio to include properties in mining towns.
I have found many cashflow positive properties in these areas but I have a couple of questions for people who have done this before so I can avoid the same mistakes.
1) What are some tips for identifying a good mining town?
2) How do you know how long a mining town will last (do they close up sometimes)?
3) What would be considered a good return on investment for a mining town area? 12%? 15%?
4) How do I find which companies are mining in the area (eg. BHP? RIO? etc)
5) Feel free to provide input =D