I’ll be in geraldton in a few weeks time and was wondering if anyone out there is familiar with the area or has any advice.
I’m in the process of doing due diligence. A lot seems good about the town. one thing that concerns me is that unemployment is a bit high, although population numbers seem steady.
i hope to buy something in the centre of town. is this a good part of town to invest in are there certain streets to avoid?
would appreciate your input!
regards
anchI was looking in Geraldton a few weeks ago and am sorry that I didn’t move quicker. The prices have moved at an amazing rate over the last 2 months or so.
Good luck finding a positive cashflow property now though. The only one that I found in the last fortnight was a mortgagee up for $45K with expected rent of $110 p/w. It all sounded good until I had the building inspection done.
Aspestos walls, roof, & shed, illegal add-on, ceiling seperated from beams, exposed wiring, 5cm wide crack in concrete floor, no floor coverings, 500mm (1/2 metre) hole in driveway etc etc!
The building inspection final report was “it should be buldozed”
Final word …
I believe “pepermint grove” is a “working class area” and suffers from high clay levels in the soil. With the drought many houses in that area have moved or suffered structural damage as the clay has dried out.
Good luck and let me know how you go.Simon
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