I would have to agree with Peter on this one.
Go for the nicer areas and sleep easy.I dont hate Geraldton but I think there are better places to put your money than Rangeway and Utakarra etc.
I myself am investing in smaller towns with no PM,s but I can manage the IP,s myself.
I am putting an offer on a place tonight for 27k which will return 100p/w.
A couple of weeks work and I can remarket at 50k with a tenant in place.
I,m sure you wont get those yields in Geraldton.
Russ.[biggrin]Scremin,
I,m not totally against Gero.I just dont like the thought of people getting ripped off by real estate agents who sell them properties in Rangewayand the likes.
If I was going to buy in Geraldton and wanted something cheap I would look at Beachlands first and then Beresford then maybe Spalding.Beachlands is the closest to the ocean and tafe so the prices here will rise well before the others.
As for the deal with the iron ore it will only be short term.
Mt Gibson mining is mining high grade ore at Tallering Peak but it is a rather small body of ore and wont last very long.Because of the demand from China there has been a lot of interest in re-opening old mine sites but these are very small in comparison to the Pilbara.Ive been told they would be lucky to get 10 years at most.
Russ.Hi all
Beachlands would be my pick as well, I have notice from my past PI that the cheaper places increase the most % wise. There are still good streets in Rangway, but you would have to have a look or get someone to look for you as I found some streets are OK while others are a bit rought.
what ever, Geraldton is moving where all the places that I have been looking are not
Glenn“I should be content to look at a mountain for what it is and not as a comment on my life” D. Ignatow
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