Ray White has them going for $515000, at $1200 a week rent, I'm sure i saw them for less. Their 2 streets back from the main highway, in relation too the highway their Nth behind the Caltex servo which is up for sale for around $1.1 mill I think and Red Rooster, McDonalds is being constructed now behind Red Rooster, a few streets away (walking distance) is the newly refurbished XXXX pub (the old swinging arms) with the Workers club across the road from that. The returns appear to be massive at 12 % plus (says Ray White) at the $1200 a week. Blackwater hasn't flooded in the 43 years I've been here, we get land locked thou, Nth, Sth, East & West.

I bought in Blackwater in the early days, I was (still) employed with Utah now BMA, I bought the company house for $8000 which seemed somewhat ludicrous back then because everyone was renting off the company for $15 a week, I received my $7000 First Home Buyers Grant, sold it many years later for $220,000, $20,000 under market value (sold it to family member), that style of house is now selling for $300-$400,000 depending on upgrades/makeovers etc, I bought another house 4 years ago for $385,000 that had been extensively reno’ed (a bargain) it’s now valued at $430-$450,000. I’m looking at 2 other properties here, 1st returns 10.1% gross,….2nd 10.4%

As a resident of Blackwater for 43years I will comment too.
There are houses in Blackwater that have been for sale for some time, there usually run down and in need of a spruce up to say the least, the nice houses sell ok, most of these houses are 40 years old to start with. The question was one of Investing and not lifestyle, as an investment there are houses at 8% plus gross returns (I have today placed a contract on 2 properties, 1st returns 10.1% gross 2nd 10.4% gross with rent reviews due at end of lease in December with rent increases easily obtainable. Blackwater is… dare I say a hole… but if your living there then it’s what you make of it, granted we have lost a lot over the years, small business, drive-in, skate rink, bmx track, velodrome, bowling alley etc etc. But the returns are still here and so will the mines for the next 50+ years. The pubs can do with a make over, the old xxxx is in the process now with big money being spent, the Workers club has been made over too,… I think Mamma Rosa’s pizza is one of the best pizzas going, would prefer it over EagleBoys, the pool has had major money spent on it, we have Subway in the Coal Centre now which has a movie theater inside, Macca’s is being built now behind Red Rooster, a car-wash was added a few years ago too,many Townhouses are being built, Currugh Mine is building townhouses too, land is scarce, rentals are nil and demand is astronomical, there is a swing towards family’s renting out rooms (i do this) for $200-$350 a week, some investors have 3-4 bedroom houses rented in this fashion eg $250 a room times 3 bedrooms on a $300-$400,000 property, mining employees get rent subsidized by their employer because these rents are in the tune of $800-$1200 a week, some beds are hot-seated so to speak to accommodate the demand for rentals, eg 1 bed shared between 2 blokes, 1 doing day-shift the other doing night-shifts. The guy whose selling his servo is commonly known around town as arrogant & rude & staff are treated poorly (this is just what I hear, I have no dramas with him or his wife). I agree with you your points on Emerald, it’s a lovely place, but my money is on Blackwater for returns on investment, Dysart & Moranbah have the big returns but high prices too.

You already own it, so seeing as you are a couple it would be like buying the property twice.

Why wouldn’t you just use the equity you have in your property to invest in another.

There’s no point in having 2 mortgages, 2 stamp duties, 2 solicitor bills etc etc……………..

Keep your apartment,…Use your Equity to buy the house in both names, Rent it out (investment property), with rent and your dual income you will pay it down 3 times as fast.