Any people with experience buying in country WA

Viewing 7 posts - 1 through 7 (of 7 total)

kelvinh
Member
@kelvinh
Join Date: 2003
Post Count: 37
October 27, 2003 - 11:34 am
Any people with experience buying in country WA.
Im looking to buy a property up north, but the rental return the agent a quoting seems very high.
Its a 2×1 apartment costing 85k, returning 225pw rent… its furnished, secure, looks clean and bright from the pics…hope its not photo shop enhanced : )
Ive got 2 rental lists from agents but they don’t really have any that are a similar prop to the one I’m interested in. They are mainly houses renting from 200-450…
This may be my first IP.. so any help would be grrreat…. Especially people that have lived or worked up north country WA….
Thanks in advance
Kelvin
[email protected]
redwing
Participant
@redwing
Join Date: 2003
Post Count: 2,733
November 3, 2003 - 5:45 pm
kelvinh..
not much info there buddy ! country WA’s pretty big.
i’ve lived in Broome and bought and sold property/land there.. still have friends there.
lived in Geraldton for three years, living in perth now (3 properties here) and have travelled a fair bit.. see many people have read your post but not many replies, i’ll try to help if you give more info.. other than THAT try resaearch like regionalwa.gov.au (working of memory here, it’s also on an old post)
Regards
Redwing
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
showmethemoney
Participant
@showmethemoney-2
Join Date: 2003
Post Count: 103
November 3, 2003 - 10:43 pm
Gday Kelvin
If it is Karratha or perhaps Port Hedland then it would not surprise me that the rent was that high, given that it is furnished.
Karratha in particular is enjoying strong rental demand at the moment with LNG train 4 on the go, but like a lot of resource towns, it can change. Already a number of mooted projects for the Burrup have been canned. However I still feel quite bullish about the long term prospects for gas and LNG.
If it were me I would either fly up or hop in the car, it will give you a feel for the area, speak to some locals etc. Certainly at first glance the numbers look good.
Regards
Clive
kelvinh
Member
@kelvinh
Join Date: 2003
Post Count: 37
November 5, 2003 - 6:51 am
Thanks for the reply guys…
Yeah its was in Port but the fees were a killer…
I’ll just keep on searchin..
Regards
Kelvin
[email protected]
scampush
Member
@scampush
Join Date: 2003
Post Count: 26
November 5, 2003 - 7:44 am
Hi Kelvinh
“Yeah its was in Port but the fees were a killer…”
do you mean the agents’ fees for rental management by any chance? … or the fees for purchase/settlement?
I’m buying in SthWest WA so can’t help with the northern region, but my sister ( who lives in Bunbury – sth of perth) agrees that rents in Port Hedland are very high – probably to cover those greedy agents
[]scampush
kelvinh
Member
@kelvinh
Join Date: 2003
Post Count: 37
November 5, 2003 - 10:41 am
These were just the strata/body corp fee $3000pa…. That’s blew a hole in the one and only +ve cash flow prop ive found…
Im still hunting for those +ve cash flow props…both south and north, but the returns seems alittle higher in the North…
Regards
Kelvin
[email protected]
redwing
Participant
@redwing
Join Date: 2003
Post Count: 2,733
November 8, 2003 - 2:12 pm
Kelvinh,
one of my mates brothers is up in the Karratha region working on the Burrup. supposedly bought a house there as an investment, was renting at $350, he’s just put it up to $7oo!!
He Got in early and the workers are share/renting it. Guess there’s not much about up there and prices are reflecting that at the moment
Redwing
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”