Hi all,
I’m just wondering if anyone here is happy with there IP’s in WA (coastal not mining) or if anyone could recommend any areas there to start a search on.
Many thanks in advance.
Kind regards,
Gatsby.Hey Gatsby,
I’m a investor over in the west, who is very happy with the returns on this side of the paddock. I would recommend scoping out Karratha, which is located about 8 hours south of Broome. It is on the coast and is continually increasing its population and strength due to booming industry in town and its surrounding areas. It has already hit and past it’s boom stage over the last 4 years, but great IP’s can still be found up around 10 – 11% as there is and always has been a lack of rentals in town.
Happy Hunting……Merry Christamas
Ryan Crawford
Hi
we are primairily Queensland investors but have recently purchased in WA, in an excellent coastal town two hours south of Perth called Bunbury. We purchased a triplex site with house for less than 180k including costs It has a current tenant in place paying $150PW which is okay because we are primarily after cappital growth. A large area close to centre of town called Carey Pary which used to be Homes West accomadation has been rezoned into triplex and duplex sites.which is not to bad. Bunbury has one of the fastest growing populations in Aussie, has a large port were huge amounts of money are being spent on upgrading facilities. If you are interested in Bunbury you should also pick up the latest API magazine which goes into more detail about Bunbury. On a side note we found an excellent agent in Bunbury who has been one of the most helpful we have ever come across.If you would like her no feel free to PM me.Good luck with what ever you decide
Happycouple
The More IP’s The Better
Extremely happy with investing in WA. We haven’t experienced the huge surges like Vic and NSW, but we also aren’t seeing the drops as yet either.
I know it’s easy to suggest and extremely hard to do, but if you’re having trouble searching for non-negative props, my suggestion is to get the numbers a tad bigger. Tenants / clients are usually happy to fork out “mucho denirio”. I don’t mean posh houses either…I’ve looked for houses / flats here and found the same thing as you.
Big office blocks and/or smelly & nasty warehouses and sheds seem to be the way to go. They are more than happy to pay all your outgoings and P.M. fees. I absolutely love it when tenants pay money to manage themselves…[biggrin]
Cheers,
Dazzling
“Go hard or go home”
Hi Happycouple
Really glad WA is finally getting a mention. We live just down the road from Bunbury (Busselton), and agree with you entirely that there are some really great little properties available over here. You didn’t say if you were West Aussies, but we have a very long coastline here and there are some great little areas still unknown!
My husband and I are really anxious to get started in our IP journey because of our knowledge of the areas down this way.
Happy Investing, WendyBW Butcher
Cremin and I in Geraldton and absolutely love it!!! It is a growing town of around 25000 now.
Hmm.. I shouldn’t be telling you this… I love my town… I want it all for ME!!! Ahaaaa!!! (Wicked laugh…)
Mind you CF+ is getting hard to find, but there are some super CG to be made that could make a -ve property into +ve within a year or two.
Rents are increasing and in short supply.
My 2c.
Steph.Success is 1% inspiration and 99% perspiration.
Gatsby,
I’ve got one IP in Waikiki (Rockingham region, southern part of Perth).
It was CF+ when I bought it a couple of years ago, but CGs have meant that would be hard to achieve now.
The Rockingham area is doing very well because of increased infrastructure (railway extending, freeway widening, etc.) and I would still recommend you look at those suburbs – a recent API article forecast lots more growth there in coming years.
Mick
Hi all
This is my first post… [blush2] … so hope I get it right!
I’m in the early stages (lots of research) about +CF properties after years of negative gearing (the taxman must have loved me).
I’m wanting to connect with other Perthites who are interested in catching up for a coffee to talk real estate. Is anyone interested?Hi Gatsby
My girlfriend and I have just purchased a 394sqm block of land in the Dunsborough Lakes estate on which we will be building a 4 bedroom house in the next couple of months. We believe this area is going to go ahead, though not as fast as other states such as NSW or Victoria. That’s ok, as we love going down there on holidays. We are very happy with our purchase.Simon De Marchi
<<<Hmm.. I shouldn’t be telling you this… I love my town… I want it all for ME!!! Ahaaaa!!! (Wicked laugh…)>>>
Shhhhhhhhh! They’ll all come and spoil it!!
Just so you all know what I think of Geraldton, I just bought this…
I got it for $60,000 with $2,000 deposit and settlement in July. In case you are wondering why, that little structure on the land costs nothing to maintain as it is commercial and the rent pays the finance. Also, and most importantly, there are two large blocks of land which are separately titled. I have already been offered $35,000 just for the empty block. That means I can keep the land with the shop for $25,000 and it rents out for around $100 per week.
Why am I telling you this??? I hope a lot of you also think Geraldton is a good spot to buy in and you all buy up the town. This way, my property will increase in value!!!! hehehe
Robert Bou-Hamdan
Mortgage Adviser
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