Steve mentions a number of properties around the $50k mark. These properties are obviously in smallish country towns. I’m not aware of properties as cheap as that even in regional centres such as Toowoomba/Bundaberg/Rockhampton from a Qld point of view.
Have you looked at realestate.com.au
I just did, and saw some in Mount Morgan (no idea where that is), and a few other places under $50K
Cheers
MelThey are out there – but so are hundreds of people just like you searching for them… Unfortunately this has pushed up the price and as a result desperate people are paying too much for properties that two years ago were less than half the price. Keep looking, but tread carefully… [
]Cheers,
Paul…“I want to be rich, and stupidly happy – so far i’ve only managed to achieve the stupid part…”
Remember that in Steve’s book, his point is about cashflow, not just the cheapest purchase price. Make sure you do your research to try and understand why the prices are so inexpensive. A cheap turkey leaves a bad taste in your mouth.
Have you looked at realestate.com.auI just did, and saw some in Mount Morgan (no idea where that is), and a few other places under $50K
Cheers
MelHi Melbear, Mount Morgan is west and inland from Rockhampton, another bad place to stay away, many of the real estate agents i deal with in Rockhampton have told me to keep away from that area, once you purchase its very hard to sell again, the area is well know for its low economics and most people, who live there are either on the dole or some sort of government assistance.
In other words, purchasing in Mt Morgan is like digging a bigger whole for your self and not being able to get back out.
Cheers
s.i.sYep, Mount Morgan is a bit of a dump – old copper and gold mining town. Have been through there many times. Funnily enough I’ve always said it’s the one place I would never want to live! So that may give you an idea of its potential.
My comments about the cheap property were simply that – comments. Having read Steve’s book it just took my notice that some of the properties were so cheap. I had only ever seen them that cheap in little country towns. Of course, it’s all a matter of doing the research and numbers to see whether a deal would stack up.
Interesting that you mention Mt Morgan
Funny that a large organisation which will remain nameless settled on 19 houses in Mt Morgan during October. Don’t think they thought it was going backwards
Cheers Richard
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http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundRichard Taylor | Australia's leading private lender
as always 007
“interesting” hmm..
QLD seems to be a hot market still ??
REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
still i wouldnt invest in Mt Morgan, thats my opinion.
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”
Have you looked at realestate.com.auI just did, and saw some in Mount Morgan (no idea where that is), and a few other places under $50K
Cheers
MelMel
Mt Morgan is about 20 minutes west of Rockhampton. An old gold mining town which apparently is being reconsidered once again to reopening the old gold mine.Houses there are mostly old, timber and in need of repair but good if you’re handy.
There are very little work opportunities in MM however many ppl commute to nearby Rockhampton and Stanwell (power station)
My recommendation is: Go have a look before you decide.
Ann []Thanks for the explanations guys, but my point was that I found some cheap properties really easily, not that I want to buy any. I’m in Canberra, so not quite ready to venture North yet. I’ve got good friends who live in Yeppoon, and they won’t even give me helpful advice about Rocky, except that ‘it’s a hole’!!
A mutual friend did buy there, but had to do it all on her own, which was a bit disappointing as we had someone ‘on the ground’ up there.
Cheers
MelMelbear,
if you need someone to split halves in the cost in getting there, let me know i will come with you!
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