What is the forums general opinion of Dubbo?
Our strategy is to B&H, but the voume of listing and some of the prices (eg: 3 brm, tidy house, average size block 2kms from “CBD”$ 65–85K with rental @ $140 /pw) seem to be indicators that Dubbo is ripe for wraps!Any comment welcome.
Amazingly Dubbo is a lively busy town with a lot of empty space around it for many many miles.
People come from their farms 150 km away to do their shopping there.
Part of the mainstreet floods (and I don’t know where else as I was only interested in the main street at the time).
Pisces
no
Hello Nealo,
I have purchased in Dubbo, and did inspect many houses in your price range mentioned… be wary however, as with most locations to buy real estate there are the desirable and undesirable locations… find an honest real estate agent, and find out about the people living there, i did another house inspection late last year, in a better part of town, and the agent had the whole day to chat as i was his only app’ for many hours, he told me of a bloke who bought a place for only 1 dollar over the FHOG, stayed for a year, and sold for $65k… pretty smart investing if you ask me… but the place was in one of the worst parts of towm….
Do your homework, drive out there and go shopping, strike up a conversation with the person behind the counter at the local corner shop, find out where and what streets the pizza will not be delivered to then you can make a more informed decision…
8 months ago i too was drawn there for $65k-85K houses rented for $140 pw… after being more informed about their location i ended up buying at just over $100K and renting for $165pw… havnt had a problem as yet (gald to say…)
Hope i have helped!
Jason
Hey Henry,
I hav been sorcing properties in the central west by firstly researching on the internet, using all the common real estate web sites. I try to find a sound property that pays for itself and leaves me some cash left over each week. (also good location, building type, land, outlook, capital Gains Potential etc)
Then i decide on the locations i hav found the properties in, and research the locations, again on the internet. find as much as you can, the good and the bad! ask your friends and co workers about the areas, its amazing how many “friends of friends” come out of the wood work that can giv first hand info about the places you are looking at.
Then start making phone calls, and you will soon learn that most pos’ cashflow IP’s are snapped up days (if not hours) after being posted on the real estate web sites…
So u hav to then take the bull by the horns and drive out to the places personally, spend a day or 3 there, walk the streets armed with your clip board and record the trends of sales, rentals and whats on offer at the moment…
You will soon realise that many IP’s you would be interested in buying will never end up advertised online, as was the case with the Dubbo property (which was bought of a smaller independant RE agent)
This has worked for me thus far, at the same time i hav seen a ton of regional NSW, and must hav clocked up over 30,000 km in 2003…
Hope this has helped, Happy house hunting!
Jason [
]>>Our strategy is to B&H, but the voume of listing and some of the prices (eg: 3 brm, tidy house, average size block 2kms from “CBD”$ 65–85K with rental @ $140 /pw)
You should refresh your browser, there prices from 10 years ago [
]Oh you mean that place in ****** Drive, be afraid, be very afraid, no be petried, I think you get my drift, but alas someone will buy it, and have many sleepless nights.
BC
AHA the place in ****** Drive, yes I also rang the agent about this. I don’t know if it is the same place, or if we talked to the same agent, but the rent I was told was between $110 and $120pw.And it is in a bad area I was told.
I have a house in Dubbo, bought last year, but really I think the positive cashflow properties in Dubbo don’t exist anymore.
Either you’ll find a cheap house that needs lots of major work or the today’s price is too high to make it CF+.
I’m looking outside Dubbo now for my next one, (drove up there last weekend came home empty handed) still you have to be lucky to find something worthwhile.TeacherK6 out of curiousity, which PM do you use in Dubbo? Are you happy with them?[
]Celivia,
I use Town and Country real estate. They offer good personal service, and am very happy with them!
Jason [^]
Thanks for all your comments. From what I gather seems there is no substitue for being in the place and sussing it out; internat searches are limited in that not all props will go online etc etc. The DD is so crucial.
As a first timer we have gotten tremendous value from the forum…
Time for action
Cheers
Nealo
Thanx Guys / Gals…
Glad i could help
I lived in a town 30 min west of Dubbo, just started buying my first IP ($69K rent $145/wk) You’ve gotta know the area though.
PS Big rumour about the airforce building a base in Narromine. Not sure if it’s true, but someone came into town, and bought every block (including an entire new land release) and ever decent house.
Just missed out there
MijavaMijava, that was probably Victor Ollis, of um, kay, what was that firms name again?
He’s probably going to sell them at a profit to sydney folk, and move pensioners to live out there.
Cheers
Mel
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