Hi
I’d appreciate any pearls of wisdom available within the forum on property thats situated far inland Queensland.
I am looking at duplex units in Mt Isa that seem to be priced at solid yields.
Obviously capital growth becomes dubious – but how dubious?[
]Please advise
Thanks
PS
Hi PS
I think you’ll find that there is generally a tradeoff. the higher the yield, the lower the CG.
To roughly work out what (if any) CG you are looking at having in this town, check out the population trends, industries etc. If it is rising, and there will need to be more houses to accommodate the extra people, you might find there will be some growth. If not, then perhaps not.
Do your research on the town and its surrounds. Also work out what it is you are wanting. If you want CG, buy somewhere that will have it. If you want yield, buy somewhere that will have it, but with an eye to the factors mentioned above. Any CG would be a nice bonus.
Cheers
MelHi Port Star,
Just a heed of warning be very careful of investing in Mt Isa, nothing wrong with the area, though i have seen plenty of real estate for sale there latly. Though i could be wrong, if you have a chance it might be better to actually go to Mt Isa and check this one out, i could be wrong, though i have a friend who travels there to work for the mines and has told me such plans that could be occuring in the late future.
Cheers,
sisTry this port star- an article on Mt Isa real estate:
http://www.theaustralian.news.com.au/common/story_page/0,5744,8300611%255E2702,00.html
kay henry
The only problem with Mt Isa is that it is a one industry town if the mine shuts down the place would become a ghost town. Regards Beanie
as Beanie just said, and sis’s friend who works their will tell you it depends on the mine. if there is a sudden flood or influx of properties i would stay away from the town. alot of places in regional areas are based on one industry and if that one industy or business controlling the industry decides to move, well. research the town, the industry, the main processing plant (if there is one) and talk to as many locals as possible.
Adrian Cahill | AdrianCahill.com Personal Development Expert
http://adriancahill.com/from-investor-to-coach/
Email Me | Phone MeHere since 2002, however things have evolved over the years.
Hi, My Brother is the Area Manager( Central & Western QLD)for the QLD Ambulance Service and he is lives in Mt Isa, he is also a property investor looking for properties in this area and surrounds – because he travels all over these parts he gets heaps of info !!
So, if you like just email me and I can put you in touch with him and he would more then happy to give you the dirt on properties and areas such as Mt Isa.Cheers
Ginamarree
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