All Topics / Help Needed! / Tamworth, NSW

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  • Profile photo of JoshMagJoshMag
    Participant
    @joshmag
    Join Date: 2013
    Post Count: 5
    August 26, 2013 - 7:59 am

    Hello everyone.

    Just a post here to see what people thoughts are in relation to buying an IP in the Tamworth NSW area.

    I am buying my first IP and am hoping to keep the purchase price to around the $150k mark and in doing so I am aiming/hoping/planning to purchase a property that is cash flow positive or neutral. I have about 20k in savings which I am planning on using to cover a 5% deposit and purchase costs for my IP. I do not have any equity in my PPR available as I have only owned it for under 2 years and borrowed 100% initially. I have done a fair ammount of research and I am liking Tamworth as an affordable regional area for me to begin. 

    I would really appreciate hearing people thoughts on the area good or bad.

    Thanks

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    August 26, 2013 - 8:56 am

    Hi Josh

    It was a bit of a hot spot a couple of years ago, as were other areas in New England region – not too sure if things are still on the up for Tamworth.

    There's often posts about it – if you do a quick search you should find some info.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of ajayayyarajayayyar
    Participant
    @ajayayyar
    Join Date: 2005
    Post Count: 176
    January 19, 2014 - 1:34 pm

    Hi Josh, I purchased a house in Tamworth in early 2011 and went for Tamworth because I thought it was better thatn Wagga Wagga.

    I actually visited both places and thought Tamworth just seemed a better place to invest – both wagga ad tamworth were the regions I narrowed down to because I definitely wanted to invest in a regional town as I had not investment outside main city area prior to that.

    It's been a reasonable investment to date – I bought for under $200k and for that price range west tamworth would be the only suited area I think, which is where I bought.  They key thing was to find a good tenant which I was luckily able to find, so as long as you do that, tamworth should be a relatively safe bet.  I see tamworth as a longer term investment though… to hold for a number of years.  rents should also slowly increase over time though not very rapirdly

Viewing 3 posts - 1 through 3 (of 3 total)

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