Your question could be "How long is a piece of String "? SO the answer is It Depends
Which mining areas – WA, Qld, NSW or Victoria?
Which Lender?
Which Mortgage Insurer?
How big is the Town?
Which mining activity – Coal, Iron ore or Gold?

You need to be more specific – My experience (which is limited to coal mining towns in Qld and NSW) is the major banks will lend 80% of Valuation or Purchase Price whichever is the lower.

Ideally this question should be answered by a Lender / Mortgage Broker

Hope this Helps – Cheers

If you'd like to turn on private messages in your profile I'll send you a link to something else I'd consider in the current market.

If I found a deal I thought was unmissable, I don't think I would post the link on open forum in case anyone pinched it (wink).

Firstly, I would double check with the agent that is currently managing the leases what the actual rental returns are (and would request to see this in writing through my solicitor), and also compare it to the asking price of rents on similar properties in the area.

I would also speak to Moree council about whether in fact this site can be strata titled, and if so, whether there is anything obvious they see that you would have to do.  Some examples might be "we would demand you create a large concreted area for visitor parking" or "we would demand you upgrade the sewer pipe both on the property and on the crown land in front of the property"…… etc.  I would also speak to a Surveyor that works the Moree area to understand the likely costs of the strata titling. 

I would then look at the historical figures of how long properties take to sell in Moree.  Such figures are in the rear pages of the Australian Property Investor Magazine.  If your strategy is subdivide and offload, you need to have a solid understanding of how long the strata titling will take, how long each unit will take to sell, how much these processes cost, how much the holding costs (eg bank interest, insurance) will be while you wait for all this to happen, and the relevant capital gains taxes (it would probably be unwise to sell all of them in the one financial year).

An agent will of course tell you this is an amazing deal and you can make $x.  But assume he is telling you nonsense and check these figures yourself.

Anyway.  It does beg the question; if there is such a large amount of cash up for grabs, why is the current owner not doing it him/herself?  Or indeed, why hasn't the agent snaffled the deal for himself?

As for who would finance it, don't know.  But 12 units on one title will be considered commercial finance.

I don’t think there be any organisation that specialize in disability pension; as it’s diff in all states and only a very small part of the population.
Just a few tips;

1. The disability pension is taken as a “salary” in the bank’s eye- once your on a disability pension it’s very hard to get off…and the income is accepted at 100% full rate

2. The income you get from your new investment is also considered an income

SO really you have your disability pension + rental income as your “serviceability” income….so the question is; is that enough to service your loan + afford for standard living expense? ie can you afford the loan if the rate was 9% ( 2%+)

3. the disability pension is also mean tested; so it’s a good idea to give centerlink a call to see what would happen if you buy this place…because this would affect your ability to make repayments

4. Since you have a bit of equity in your current home- a deposit is NOT going to be a problem; it’s more if you can afford the loan or not ( in the bank’s eyes anyway)

5. For a 10% Yield property it will be located in a rural area/ mining town Or you must have done some creative investing ( renovation/development etc)

just some food for thoughts.

Regards
Michael