[cigar] Greetings all investing guru’s.
This is my first entry after reading Steve’s book and regularly visiting this site.
I have searched high and low for suitable properties in both rural and urban areas of Australia which can be positively geared. From my enquires it appears that there are few better places to purchase that in Kalgoorlie or Boulder where properties are avialable for $100 – $130 k with rental returns of up to $250 – 260 per week. In some cases there is rental guarantees for 4 – 5 year periods.
Previous entries have warned investors re Kal as it fluctuates with the mining industries. If one can obtain long term rental on cheap properties I can’t see the danger.
There appears to be little else of similar value about and I have missed the boat in Ballarat.
Can anyone please help??
Thanks and Regards
Ballarat Boy
M.Baynes
Hi Ballarat Boy,
Thanks for asking the question about Kalgoorlie. I was also looking at it & will be very interested in the replies from other members.
I am also very new to investing.
Best Regards……….John James
John B James
Hello everybody,
This is my first entry also after reading Steve’s book and regularly visiting this website. I will agree with you Ballarat boy (M.Baynes), I am also a Ballarat girl and yes we have certainly missed the boat in our own home town. I certainly look forward to particpating more often in discussions on this website with everybody and also look forward to becoming financial free sometime in this lifetime. Take care all[biggrin]My only advice is to wait for yields to improve as interest rates rise. The book 0-130 is a description of someones success in a different part of the property cycle.
It cannot be replicated today. Steve is busy writing his new Book and giving seminars – not out buying another 130 properties in 3.5 yrs.
You got to be patient. I would not rush into buying a property out Kalgoorlie way.
Ballarat surely is a better investment than Kalgoorlie.
Hi BB,
Kalgoorlie is a community that has it’s own set of market conditions that are closely related to the performance of the mining sector. There have been periods with stellar performances and yet again periods with little or no growth. These cycles may or may not coincide with the wider property market.
Be aware that there are pockets in Kalgoorlie that should be kept away from at all costs.
Land in Kalgoorlie is limited by Native Title and mining tenaments and in some respects could be referred to as being in short supply. As such there has been some redevelopment of the larger inner city type blocks over recent years.
As a rule of thumb there has been a quantum lift in general housing standards in the area over the last 20 years with more and more high class homes being built there. As the regional centre it also services the outlying gold mining areas and also provides the government base for many of the northern and interior communities.
Boulder, apart from the golf course subdividion near the airport, has older style homes and most of these would require varying degree of maintenance.
Adeline is a no go area – the term ‘Bronx’ comes to mind when remembering Adeline.
North Kalgoorlie, Hannans and parts of SOuth Kalgoorlie (racecourse subdividion) tend to have the higher quality homes – mind you big $ to buy into these areas too.
Areas around Kalgoorlie central would be largely safe in terms of an investment. As always do your reserach, consider the neighbouring properties and I would angle for a Government Employees Housing Authority (GEHA – or whatever they are called now) leased house for the consistency of rent – IF I was buying in Kalgoorlie. Mind you expect a premium to be built into the price if you do buy GEHA.
Derek
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