Has anybody looked at igham and would you consider this property an attractive investment?
Dom [biggrin]Hi Salcious,
Yes, I have seen this one on the web and I have done a bit of research on Ingham in the past.
The return on this property is reasoanble if you can get the $410pw rent. The problem is that rates are usually quite high for blocks with units/flats on them so this eats into your return.
I recommend the following (along with normal research)-
Find out if the property is in a flood zone. This is an issue with some properties there (get address and contact council)
Find out if it is practical to put the rents up and check out if the current tenants are on leases or willing to go on to leases. It is fine to say that a review shows high rents can be achieved but is it practical to implement?
The polulation is only about 6000 and some lenders will not lend for populations under 10,000.
I also think it would be worth checking if if Ingham is listed on the top 100 QLD country growth areas with Residex.
I have begun to build a website with property research tools on it if you would like to have a look. Feedback and suggestions of useful content are welcomed- http://www.freepropertyhelp.com.au
Crusher
Have you considered Forrest Beach just down the road? Right on the beach!
Cyclist
http://www.hornsoft.com/realestate/cb.htm?hop=qwertyuHi again,
Was talking to an RE in ingham who claims that mining companies are looking at mining gold behind the ranges. This would boost the town dramatically if it was true.Will do due dilligence on this one but this might be inevitable.(quote Matrix)
Dom [biggrin]
Originally posted by salacious:Hi again,
Was talking to an RE in ingham who claims that mining companies are looking at mining gold behind the ranges. This would boost the town dramatically if it was true.Will do due dilligence on this one but this might be inevitable.(quote Matrix)
Dom [biggrin]
Has anyone heard anything more about above quote ………….eg goldmining near Ingham? This would be great if true.
Cyclist
The only “new” Goldmine I’m aware of is being opened near Charters Towers. There was some rumour about reopening Ravenswood though, which would answer the question.
My concern with Ingham apart from the flooding is the seasonal nature of the work available as many of the workers there are either Mill employees or contract harvesters/Haul out drivers. This would make rental increases harder.Stuart Milne
Non-Conforming Specialist
READY Mortgages
http://www.readymortgages.com.au
[email protected]
Mob: 0404 056 055
You must be logged in to reply to this topic. If you don't have an account, you can register here.
