Help please.
I am new to the investing community and have been looking for positively geared properties in the Perth area with no success so far. I was wondering if anyone has invested in the Geraldton area and what do they think of the area as I
have seen a few places under $ 150.00.Thanks heaps!
Selena
Hi
I know of someone who has a few IP’s in Geraldton.
The last I heard was that the local council was buying random properties for state housing.
This meant that a once considered good area/street was suddenly being populated with state housing.
Now, some people may be happy with this, others may not. My friend was very unhappy because 1) his property value dropped 2) I think it impacted his rent return when it came time to find a new tenant [confused2]
I’m not sure if this is the current situation with Geraldton, but I’d be very careful and perhaps contact the local council to find out more.
I live in Karratha and for a fee find quality cash positive deals there, email me at [email protected] to join our database
Thanks a lot for your comments. I will contact the city council today.
Cheers
Selena
There’s certainly a bit of activity over there – we’re fielding more enquiries about Tax Depreciation Schedules in Geraldton.
ScottYes, I have an IP up there. Crime rate is still high compared to other WA areas, but if you install alarm or security grills then it’s quite easy to rent your place out.
Work has commenced on the tunnel that will take the railway underground. Once this has happened then the railway that is along the coast between Geraldton City and the beach will be pulled up. I’m guessing this will increase values for some.
You might like to look at where it’s going underground as it may decrease values in that area? Hard to tell.
Yes, prices are under $150,000, but rents aren’t as high as Perth suburbs. Mine is slightly +ve cashflow, but I believe many are now neutral as prices in the area have in general risen but the rents haven’t yet. If rents do increase then this area may go back to +ve cashflow.
Perhaps if you can get price down a bit then it may still be +ve. You can only investigate and then make up your mind. I would suggest you go up and go for a drive through the suburbs, there is quite a variance in appearance, not that that should be a deciding factor but it gives you an idea of the areas.
Regards
PKThanks Scot and PK for your input. I will go over next week and check some of the areas out before going ahead.
Regards
Selena
There’s a valuer there called Colin Dymond. He’s been in Geraldton for a fair while and I reckon he’d know it better than anyone. He’d be worth tracking down.
ScottI think Colin Dymond is with a company called Geraldtion Valuers or Geraldton Valutation Specialists.
All my paperwork is with the accountatn at present so don’t have a number handy, but hope that helps.
Regards
PKThanks a lot Scott and Judy, I will try and locate him through the telephone book.
Judy do you have a good accountant? Is he in WA or another state.
All the best.
Selena
Hi Selena,
I’m new to this forum,and I live in WA. I’m currently reading Steve’s book, (130 prop’s).
I tell you it’s got me wide eyed with enthusiasm.Anyway! I’m no expert,but have you thought of looking in Rockingham or Mandura. With the new rail line going through there could be some good opp’s!! Also Im sure the rail line will affect some of the smaller towns as well,could be worth a look.
Just getting away from this at the moment,as anybody had any success at building new houses and then selling. The reason I ask is that I have made some nice little profits doing this,but I don’t no how long this will last!
Well I hope you have good feed back in Geraldton.
Regards
Highlander
Highlinder
Thanks for the tips. Yes I am also reading Steve’s book for the second time. I have been very busy looking for positively geared properties in Perth too but so far have not been able to find any that’s why I decided to check out Geraldton as the homes are cheaper. I did look at Rockingham but the prices have gone up a bit during the last few months and the rents are very high over there but I will keep trying.
Good luck to you too and thanks again.
Selena
Hi Selena,
I have been buying property in Geraldton since Janruary this year. There has definitly been a jump in prices since the beginning of the year.
My experience with Geraldton has been great. I have over 10 properties there and they are all rented. The rental market is very strong at the moment.
Have a look at this website great information on what is happening in geraldton
http://www.economicsummit.com.au/ – you need to download the speaker notes.
Feel free to send me a private email if you want to have a chat of my experience and I will give you my phone number.
Good luck!
Hi Munecita
Thank you so much – I would really like to talk to by by email or on the phone before I go to Geraldton on Thursday, but I dont have either of these.
Hope to hear from you soon.
Regards
Selena
Hi Selena,
You can email munecita by simply clicking on the email button on the bottom left corner of one of her messages. This will take you to an email facility which forwards messages onto the intended recipient.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Selena,
Have my paperwork back from the accountant, Colin Dymond works for Geraldton Property Valuations and his phone number is 08 9964 3637.
How’d your trip go?
Regards
PK
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