Anyone here invested there? Pros and Cons.
API magazine gave it a favourable review..
Cheers
Mocassins on Everyone
I like IT
got one for Dimboola or Ouyen?
Moron.
Anyway, good cheap entry level rental properties in a decent sized town can be had down there, with reasonable rental AND growth prospects into the future. Not the rip off PM and maintenence issues like you'd find in a lot of one plumber outback towns with cheap IPs
Hi units4me,
I have my eye on 2 in Moe, and 1 in Dimboola.
Any thoughts on Dimboola, seems to have lots of high yeildsCheers
How 'bout a studio apartment in Traralgon (currently owner occupied (me) and recently renovated by me). I will also stay on and rent back for up to 12 months.
Figures represent 5.9% gross yield but prepared to increase to 6+ for a quick sale. Renovations will bring excellent deductions also.
Everything under $80K.
Traralgon is growing and is now a transit city to Melbourne. Very stable employment in power industry, coal mining, plantations, farming, paper manufacturing and supporting industries as well as a major hospital and Regional airport. Recent projects announced include a new power station and $2b Urea fertilizer plant.
Kick me for advertising but I think I've been a pretty good contributer to the forums since September 2003!!!
PM me if interested or would like to know further.
aussieinvestor | Digital Revenue Pty Ltd
http://appliancewhiz.com
Email MeHi aussie, email some pics and the rental details.
Cheers
Moe.. sends shivers down my spine. I wont go through all the thoughts but i wouldnt imagine the capital growth would be much. You would probably get a bargain and maybe get some decent rent but everytime i drive through it it looks like depression valley. The recent history and media would have put a dent in its reputation. Just my opinion.
Your opinion is misguided.
The Jaiden Leskie thing in Moe was 11 years ago. Can't think what else media/history you may be referring to.
Maybe you're confused, thinking of Melbourne's ethnic gangs, stabbings, machete attacks, drug busts, bashings, murders etc that occur on an almost daily basis.
is Dimboola more of a positve cashflow investment with no positive growth?
Below is a link to Victorian Median House Prices, (courtesy of Heraldsun newspaper, via Victorian Valuer-General; 1997-2008):
http://www.news.com.au/heraldsun/files/median%20house%20prices%20by%20suburb.pdf
It shows what the median house price was for most towns/cities/suburbs across Victoria, from 1997 to 2007. It also shows the Growth Per Annum, between 1997 -2007.
Dimboola has been 7.2%
Moe, 9.2%
Dimboola has, or did have a lot of rail workers, being a main railway town for the rail to Adelaide, drought is still well and truly rolling through many parts of Victoria, plus what happens to a relatively small town like "Dimmy" if rail services are cut, (eg train drivers). Having said that it does seem to get people wanting to rent there, don't forget Horsham is nearby. It is a catchment area for the region, a relatively thriving, nice little rural city with good infrastructure and services, (eg education, health, shopping).
Check out the 2040 Plan:
http://www.hrcc.vic.gov.au/main.cfm?categoryid=9&contentfile=topic
Why not take a trip up there?
The Wimmera is a nice place to visit if nothing else, and don't forget the Grampians/Gariwerd National Park and Mt Arapiles are nearby too.
Ouyen, an hour from Mildura, was mainly an agricultural town, but then the mining became a feature for the town..
http://www.iluka.com/?page=mbsexpressions
http://www.mildura.vic.gov.au/page/page.asp?page_id=1632
Refer back to the Median Growth for last decade info, but I think it, (Ouyen) has shown 6.7% growth p/a.
There has been investors buying and renting since the mining info came to light. Again, maybe go and check out Mildura and Ouyen, talk to folk. See for yourself? Nice places, nice communities.pwinne wrote:Hi aussie, email some pics and the rental details.Cheers
pwinne
Go to the link below and it has the details and photos. I'm throwing in the furniture also, if desired, as once I leave I won't be taking it back to my house in Melbourne.
I live in the studio for one week out of four, when I'm on call in Gippsland, and as required, so there are no wild home-trashing parties.
You'll notice the fridge is in the bathroom. That's because it is too big to fit under the overhead cupboards in the kitchen and there's a good spot in where the washing machine goes.
You can either deal through the agent or ask me questions directly (I will give you my mobile number if you PM). The agent will still process any sale.
It looks pretty sexy now the work has been done
Edit: The photos show the old curtains. They have all been replaced with new verticals and a holland in the kitchen.
Also, with the tax deductions on new items from the reno, a negotiated price and falling interest rates, positive cashflow is a reality with this gem. It has served me well as a 'stop-over unit' that I won't need after a while as another no-cost accommodation option will be available for me.
aussieinvestor | Digital Revenue Pty Ltd
http://appliancewhiz.com
Email MeI think all have a timestamps….
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