Thanks all. I won’t pursue this as an income accelerator.

I have permission to share the name of the insolvency company we are using.

They are De Jonge Read, and have offices in QLD and Victoria. We are in SA and have never met them – everything is done over the phone / email.

I have no affiliations with this company and get no rewards for advertising them! They charge a fee for their service…[Read more]

Thank you. Has anyone done this with any kind of success?

Thanks for your comments Benny.

We too tried to “ride it out” and wait until either capital growth occurred, or rents rose significantly. We were putting our lives on hold, and having to be creative (we took in Homestay students) to make ends meet.

I would just caution against your second point – about losses being retained.

If you short sell a…[Read more]

Thanks for your comments Benny.

We too tried to “ride it out” and wait until either capital growth occurred, or rents rose significantly. We were putting our lives on hold, and having to be creative (we took in Homestay students) to make ends meet.

I would just caution against your second point – about losses being retained.

If you short sell a…[Read more]

Hi Anton,  I’m also new to this forum so not quite sure what’s allowed.

What outcome do you want- do you want to keep these properties?

We’ve just sold a mining town property at a loss of $365k, and are now going through a process to manage that,  and are hoping for a favourable outcome (well,  as favourable as is possible given our ci…[Read more]

Hi Josh,

Do you have any current thoughts on Moranbah and where you think it might be heading? Interestingly there have been NO posts on Moranbah since before November last year. I know this tells a story in itself  but there are still new mines being built in the area.  Cheers!

Ok, I'll give my experience since a few people have PM'd me.
I signed up with Dymphna Boholt last year but after not making time to apply myself to her course, lost my way a bit and also felt things were a bit impersonal there.
Was totally sold on the one-on-one approach of PRE and signed on. I had an untenanted house in Moranbah at the time which…[Read more]

Ok, I'll give my experience since a few people have PM'd me.
I signed up with Dymphna Boholt last year but after not making time to apply myself to her course, lost my way a bit and also felt things were a bit impersonal there.
Was totally sold on the one-on-one approach of PRE and signed on. I had an untenanted house in Moranbah at the time which…[Read more]

JayT,

Feel free to PM me, I have disengaged PRE a few months ago and am happy to share my reasons why, but I'm not happy to put negative press on here without them have an ability to reply.

Cheers
Cathy

fingerscrossed wrote:
Hi Mr Prop. Give me your email address and i will forward a copy onto you.  I received an update only yesterday so info is as current as you can get

Hi Fingerscrossed,I have pm'd you a few times but haven't had an email yet and I would appreciate a copy of the report [email protected]

Back to Moranbah – postal voting is in progress for the BMA EA – commenced April 27 and ends May 18. Hopefully this will see an end to the strikes and some renting of houses.I've also been receiving some reports from "Infrastructure Spotting specialist Flynn De Freitas" – 2 very positive reports about Moranbah. Has anyone heard of him? Is there…[Read more]

Unconfirmed rumour that BMA signed off its EA today.There is 3 day forced BMA mines closure at present with miners on full pay for mine maintenance. The plot thickens…happily!

Of course part of my DD included vacancy rates – it would be remiss of any property investor not to. In the weeks before Christmas there were few to no vacancies which is when rents (some) shot to just under $3000. January and Feb are typically the slowest times of the year – it just doesn't usually "stop" like it did this year. For the other 10…[Read more]

I received the same email. Apparently local rumour has it that Peak Downs is expecting 2000 workers in next 2 weeks – figures suggested are 1000 FIFO, 500 to purchase and 500 to take up rentals. Those numbers would shake things up. A case of watch and wait.

I agree with some comments in the article – yes it seems RE agents are keeping properties on the internet for an excessive time. I am curious about the comment about BMA not signing leases for 3 months – I spoke to BMA who said "never", but then a local agent said that they will at some point, but in the interim they are saying this to stop people…[Read more]

We settled on a property in Moranbah 5 weeks ago – untenanted ever since. The real estate agents say "nothing is moving" and have lost interest in returning calls or giving advice on dropping rent. They seem to think things will recover, but when? BMA are not renting anymore (I confirmed this with BMA) and in fact are returning previously rented…[Read more]

It's been 5 weeks now since settlement with no tenant. Gossip suggests that this won't end any time soon, with some saying up to 6 months. Who can predict this though?Does anyone local have any thoughts? At this stage we will drop our rent to the minimum and offer a 6 month lease, and hope someone takes it. My thoughts are though, that even if we…[Read more]

laminariales wrote:

schmoo wrote:
I heard a rumour that prices have dropped by 30% in Moranbah and surrounding areas. Is this true? I'm about to sign on the dotted line for a place in Moranbah and reading this thread is making me think twice and looking more towards Mackay for coastal living and more diversity and growth, or Emerald as a…[Read more]