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Agree with all the above but I am going to add some locations where not to buy at this point in the cycle
Preparing to duck for cover
Gladstone
Emerald
Burnie
Devonport
Chinchilla
Broome
Port Headland
Karratha
Broken Hill
Taree
Whyalla
Darwin
Hunter Valley excluding Newcastle
Whyalla
caution required in Sydney and Perth
I'm not saying that good counter cyclical buys in these locations are not possible but better opportunities elsewhere IMHO
Interested if people can add to this or provide an argument why some of these might be a good location to buy
What does this mean- Towns with sub 50k population
I'll add to this:
- No population growth
- High vacancy
- Sydney
- Lease holds
Thats interesting Coastal, does that also apply to non HC stock?The housing commish properties in Taree are now offered for around $150 k
in 2010, 11, 12 they were selling at auction for around $80 -90k. Not bad growth. Renting for $200 - $250 pw which is quite high. They are a buy and forget investment.
Westside of Taree is the best and near the hospital I reckon
Old studio apartment for under $600k?
What nutter would buy that?
What does this mean
How would it be cashflow pos?Why is that Sydney CBD is not a good investment ?
I've seen some old Studio apartment advertised from under $600k recently
it is surely a great option for a Cashflow Positive IP.
CMIIW ?
How would it be cashflow pos?
Old and an apartment -
Very little depreciation,
Probably higher Body Corp costs (lifts, etc),
More maintenance
Rent yield sub 5% no doubt?
Maybe if you throw a couple of hundred thousand cash in as a deposit...
How would it be cashflow pos?
Old and an apartment -
Very little depreciation,
Probably higher Body Corp costs (lifts, etc),
More maintenance
Rent yield sub 5% no doubt?
Maybe if you throw a couple of hundred thousand cash in as a deposit...
Plus I'd get worried about its end of life. What do you do with it then? The problem with a place like this is that there are likely to be lots and lots of them, so if the entire building is beyond it's economic useful life, there'll always be a couple of owners that will be stopping you from redeveloping and you could be stuck paying exuberant maintenance costs for comparatively little return.
And just to add to that, you'll find it much harder to borrow for a property like this than a freestanding house. Good luck with a 90%+ LVR loan.
Here an article on Trashmont in the local rag.
http://www.dailyadvertiser.com.au/story/3083005/is-this-suburb-our-struggle-street/#slide=1
Should be enough to keep people away.
Also I see someone mention Wilcannia, if anyone has ever been there you would never touch it.
Just my opinion