I am looking at blackwater house for $245,000 rents for $400-$430 per week sounds good but am still unsure because I’m thinking high risk but new mines are opening in the Bowen Basin and apparently mine has expectancy of 15 years plus. Anyone have any comments on this I’d appreciate it .
ThanksAre the mining companies looking to provide accommodation thus lowering the rent potential?
There is already some single mens quarters in the town, not sure if any others are going up, but the property is already rented out at $400 to a company ,The real estate agent has told us if we put in 2 more aircons in the remaining 2 bedrooms (3 bd House) we could ask $430 pw
Be aware of the increasing popularity of “fly-in fly-out” employment in mining towns where the worker’s family lives in a coastal city and the worker is flown in to work for a certain number of days then flown home for his/her days off. This reduces the demand for family homes.
MargThankyou, as it goes on this really doesn’t sound to be a good investment. Where to go now?
Angie7,
If you are looking to finance the purchase at say 80%LVL check the bank lending criterior for the postcode.Cheers,
Pud
How Does that work??
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