im looking at WA mining towns and the big rental returns you can get. Can anyone tell me of any experiences they have had in the area?
Growth looks to have slowed but returns vary between 7-10%.
do you think this is a good investment?
thanks
RonG’day Ron,
Spent a total of 4 years living there, as a wee tacker in 78 and 79 in a company house in the suburb of Lamington near North Kal P.S. – great place to grow up….and much later 2 years renting there whilst attending WASM in my mis-spent youth back in 90/91.
We rented a small dive in McDonald Street right opposite the School of Mines. It was a 3 bedroom shack on a narrow block of about 350sqm worth about 65K back then. We paid $ 170 p.w. rent for it. Worth every penny too.
Even when completely blind drunk, we could always tell it was our house when crawling back after a big party by the impressive array of 160 odd Woolies shopping trolleys that we had acquired in the backyard. Absolutely fantastic fun playing with those when blotto.
Simply having to stagger across the road to get to the lecture hall in time to fall asleep up the back of the class after a big night out getting on the turps and going to skimpy bars was well worth it. Location was perfect, and I’m sure in very very high demand by similar upstanding students / tenants.
Always paying our rent on time and not whinging about anything, both our Landlord and hopeless PM thought we were model tenants and left us alone for the full 2 years, never an inspection to be had. Watch out for that – they’re pretty slack – or they were if the rent is paid.
Have a chin wag to Cabo Wabo on this forum – I think he has some more recent experience with the town, and may even live there.
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