Sorry MY I’m not too sure how you would approach a company. Maybe through the realestate office? I would think most properties are rented by the mining companies which would be a company lease? Freehold would be the way to go as with leasehold you don’t actually own the property as far as I understand.

Andrew

Hey MY, Prices in Blackwater are currently on the way up so its a good time to buy. Try to stick to properties that have current commercial leases so you can get paid rent right away and you will be safe when things go bad. That’s what I did and it helped me through the last two years during the GFC when my properties were empty but the company…[Read more]

Hey JKF,  I'm in for the long term in the Bowen Basin, so I think if worse comes to worse and you can service your loan without a tenant for a couple of years we should be in for another mining boom (only my opinion obviously)If your LVR is very high and you will be in deep trouble if your tenant leaves then the answer would be sell up if you c…[Read more]

I’m with Mick on this one.. I’m having a great time at the moment with my properties there!!!

Bomis,  I believe that to be true.  You own 50% so you can claim only 50% of deductions.  The other half will need to be claimed by your wife and without an income will not be relevant i guess.  We went through the same thing but are using a trust now as I have setup a business as well.

ummester wrote:
Really?Why do you think the world is in the mess it is currently in? Perhaps because the whole of western society has been throwing it's money around without thinking it through…How about having a go at doing something constructive and not trying to make money for jam? How about learning a skill that society actually needs and…[Read more]

Hi Manni, I purchased in Blackwater only a few weeks ago. Very good Rental Yields. Price $235,000 and $470/wk rent with long term corporate lease (2yrs). Rental Vacancy 0%. Long term future looks good, but who knows what can happen. Might be a bit risky at the moment in my opinion but I factored that in when I bought the house. I can still…[Read more]

IO is probably the way to go, but make sure you can pay off the loan at any time (check exit fees also) and you can pay off more than the monthly interest amount.  That way you can pay off more when you have the money and pay minimum only when things are tight.

I totally agree with acowl9. Just because I Mining Company like OZminerals close to administration doesn’t mean the mines are going to shut down. Another company is going to buy and keep the mines running as there is still a need for resources and still lots of profit to be made for years to come. There might be a slow down but there will be…[Read more]

Awesome info!!  Thanks Steve

Hi,  Just wondering how everyones property in Blackwater is going?  I was lucky and mine didnt get any damage in the storms.  Still rented out a getting a great return.ThanksAndrew