If anyone is looking for IP’s in WA and needs a time partner send me an email. I am in the market myself so I come across a lot of good deals. There are a lot of properties on the reiwa site. http://www.reiwa.com.au
There are still a couple of these available (I am not sure how many) if you are looking for a buy & hold. kalgoorlie units (townhouses)available 3×2’s two storey and single storey $180K two storey and $165K single storey rental returns of $300/w and $280/w respectively.
Block of 8 units each has separate (strata)title in Kalgoorlie ( Gold Capital of Australia ) sitting on Approx 2000sq m of land.
4 x 132sq m of living space in the 2 storey units and 4 x 117 sqm of living space in the single storey units, each have under cover parking space. In Lamington area (most sort after area) Approx 750m to the CBD of Kalgoorlie. 5 years old. 2.8 % vacancy rate in Kalgoorlie.Purchase Price single storey $165,000
Rental Return $280/week
Council Rates $280/ Quart approx
Water rates $150/year
Purchase Price double storey $180,000
Rental Return $300/week
Council rates $280/quart
Water rates $150/year
This is all the info I have but I can find out more.
Regards
Tracey[
]traceyimb
I to have been looking at REIWA site recently and apart from the odd property can’t really find anything positive geared. Certainly not using Steves parameters. Even the properties you suggest are not really positive but sound ok otherwise. Another area with some low cost housing is Geraldton district but would like to look at areas first. Anyway lets keep looking and maybe there is something around. I think we are disadvantaged here in Perth a tad though with the vastness of travelling and lack of areas to focus on.Monkey wrote:
‘I think we are disadvantaged here in Perth a tad though with the vastness of travelling and lack of areas to focus on.’
Naaaah – I reckon that sounds like an excuse more than anything ; ) Maybe it’s the ‘grass is greener on the other side’ syndrome, but I envy you!
Just pity the poor Victorian or NS Welshman for whom it’s difficult (I didn’t say impossible) to get much over 6-7% in a town whose population isn’t dropping!
Twice this year I’ve travelled to WA to buy places of a quality and return that I couldn’t find in Vic. They don’t quite meet the 11 sec solution, but do fit into my investment strategy. They were affordable, low-maintenance, highly tenantable, convenient and in major regional centres.
You will still even occasionally see WA properties that meet the 11 sec solution advertised on the web. The closest to you being about 100km from Perth. It’s not common, but I’ve never seen any properties in Vic that meet the rule, despite the choice of a larger number of properties.
Think of the plague of investors in Vic/NSW seeking cf+. Think of the 50-100% capital growth in nearly every one-horse town within 3-4 hrs of Sydney & Melbourne. Contemplate the long-term future of some of these places. And there’s heaps more seminars telling you how to do it in the east. Not to mention property price reports and investment analysts, which are concentrated in the east.
Now think about parts of country WA. Some cities have had sustantial price increases, but others have seen little change for 10 years! Average rental yields are still higher (8% is a piece of cake).
Also consider the reduced competition; it is far more effort for the eastern states investor to fly west then drive to a country town than it does to find somewhere in their own state, so most won’t bother.
No doubt there will be examples of bargains everywhere, but currently I think residents in Qld and WA are currently the best positioned to get cf+ property. SA and Tas might have some good buys, but I”d be concerned about pop trends in those places.
Peter
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