anyone know anything about investment potential in port pirie ?
goodluck in getting anyone to answer you I have been trying to find cashflow areas for a whhikle already and the best answer I get is keep trying.
However it sounds logical it is near water cheap and if the rent is decent well there is your answer remember it is not capital growth you are looking for. My advice is go there actually read Steves book basically all the answers are in the first 100 pages.
Sab[8D]>>goodluck in getting anyone to answer you I have been trying to find cashflow areas for a whhikle already and the best answer I get is keep trying.
Sabwal, could you image what would happen if someone gave specific (even general) information on where to buy.[
]The posters on this forum will give excellant general advice as you can see. I think asking for a free ride is a bit rich.
Hard but fair.
BTW keep trying[
]BC
You have to check the australian buearu of statistics on the population trend and maybe research what keeps the town going ie: local mines? and if those mines are being closed by BHP.
like any town spending a day reasearching on the net is better than spending a weekend looking for a lemon.
I am not indicating anything in this post if you want to know then look.
(yeah BC!)
A sentence out of an email I got just now “I still can’t get over
the abundancy of high yielding properties”….so it’s not just me out there finding deals – and we’re in the same world that you are looking in.
Some more help – if you spend 220 at residex.com.au you can get a list of the postcodes most likely to have +ve cashflow properties in Australia.
if you want it easier than that, then use a propertyfinder service such as richmastery.co.nz or richmastery.com.au (who will source the property for you for a finder’s fee of around 5k.)
Could be a good way of getting into the market if you don’t have time to look – or ask around privately. partner with someone. pay someone.Some people, no matter how much you try to help them and show them, will find a thousand “yeah-but” ‘s that’ll stop them in their tracks. Fine and so be it, whatever you believe that’s what the truth will be.
cheers-
MiniHi Minimogi
Long time no see[8D].
Hope all is well with you and the careerS!
Sawbal
I have only read a few of your posts but just from the above post I think you need to really concider if this is going to be a long term strategy for you or if you are only going to buy 1 or maybe even 2 properties in time. I say that because learning where, when, how, and WHY to find the deals is a very important part of the success you will find.As everyone keeps telling you keep looking because once you have figured out the so called “secret” you will feel very relieved and elated that you did it yourself.
I have got a deal on my desk right now that you can have if you want, no finders fee or anything, BUT would you really buy it today!
As for the question simotheman asked, it is different to ask for specific info, especially bcause it already shows he has done some work and is trying to get confirmation on his results. That is totally different.
simotheman
Sorry don’t know the area[][:0)]Cheers
Leigh K[]Read, learn, grow but most of all do it.
Quote:Some more help – if you spend 220 at residex.com.au you can get a list of the postcodes most likely to have +ve cashflow properties in Australia.I was wondering if there any any services like residex.com.au for South Australia [
]A friend of mine has eight house in Port Pirie (he used to work there). Very good rental demand, long tenancies and steady capital growth (4% pa last three years).
BUT… The main industry in town in the Port Piries Lead/Zinc smelter. This was owned by Pasminco, now owned by the banks after Pasminco folded. This smelter is certainly in it’s twilight years.
Port Pirie’s future relies heavily on the go ahead (or not) of a proposed new Magnesium refinery. Given that the QMag project in Qld has been a completed disaster (they stopped building nit when they ran out of money), it could be hard for the SA one to get off the ground. check out http://www.mgil.com.au
An investment in Port Pirie is really an investment in magnesium… do some research on it.
Brett
thanks for the well constructed reply brett, it was precisely the kind of information i was looking for.
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