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Does Homeside still ok with 90% LVR? What about Resimac like you said Sachin? Do they have inhouse LMI?
I prefer not to have LMI through genworth or QBE since they did not like Newman area for a loan around $750,000 anyway.
Thanks,
Billy
Thanks for sharing the info Shahin,
However is that the only lender? Could LMI be an issue as well?
Yes total package around $750,000.
Do you think there are any lender for 90% LVR on that price?
Yeah that figure 62 rental properties is with no surrounding suburb and 105 with surrounding suburb.
The vacancy trend seems coming down now and only 62 properties now available for rent. Do you think this trend will continue? So far seems to me that China demand is picking up again and the expansion still there only slightly less agressive.
Heard in the news that China will most likely inject another round of stimulus. The last one they had back in 2009 was indeed very effective like a shock absorber. I believe this will have huge impact on coal and iron ore mining industry. So should be a good time to buy another property in CQ town. But looking from the past lesson, I guess it is much safer to invest in Emerald and Blackwater though rather than Moranbah or Dysart. Any thought on that guys?
Just check this morning from realestate.com.au that Blackwater 3 bedrooms house now cost about $600,000. I think it was up by $100,000 in the past 6 months. Can anyone make suggestion as to why Blackwater price went up so quickly? I think most of people in this post predicting it should be emerald in a hot seat instead of other mining town.
Cheers,
BillHi Gents,
I’m new to this forum but like to know about future of coal mining activity. Recently if you notice, there is a concern from coal mining companies regarding MRRT and carbon tax (refer to Financial Review today). It seems unfair for coal industry they got taxed 3 times as hard. Do you think it will drawback people to invest in Dysart or Moranbah? Also we might got beaten by Indonesia in terms of coal pricing and export since they are geographically closer to China and India plus they also have a cheap labor cost.
Please have a look at this link below and let me know what you gents think. You need to subscribe to AFR first though.
http://afr.com/p/national/coal_industry_fears_lost_jobs_jMmTNTPcXzZm9ExBJNZ7JJ
Also what is the lifespan of this coal mine? I estimated that it would be around 40-60 years
I’m interested with the yield return but I feel a lot safer invest in Iron ore town compare to coal since iron ore deposit can last 200+ years plus they only got taxed from MRRT (Coal will be taxed twice with MRRT + Carbon Tax). By the way I have property in Newman and interested to diversify a bit now.
Your gents opinion is much appreciated.
Many thanks,
Bill
