Hi!
I am pretty new to all of this. At the risk of sounding ignorant….
Can anyone tell me where I might be able to find Positive Cash Flow Properties in WA or at the very least, point me in the right direction?
Do they exist?
I currently live in remote WA halfway between Perth and Kalgoorlie.
Would Kalgoorlie be a foolish place to invest?
Thankyou in advance for any advice/guidance!
Hi boogs,
I’m not a WA resident but I would suggest that as we have in QLD, the mining areas of Karatha, Port Headland and Kalgoorlie might be a place to start. Read the topic on here about Moura, Blackwater and Moranbah, although they are completely different states and cities I personally believe there are some parallels about them
As far as any city goes for being a foolish place to invest. Its only foolish if you fail to perform your due diligence, do the work and you may find you will answer some of your own questions.
Most of the mining towns are positive however think its a little late for the capital gains on those areas.
Huntingdale seems close to being positive / neutral and there are probably a few other areas if you have a good look around
Glen
Having just moved away from Kal I would say give it a miss. The market there fell considerably in the last 2 years, particularly the rental returns, and the rental market became rather overcrowded as people who bought to live in high couldn't sell higher and settled for renting when they moved on. Don't forget this place had a nickel crash and Norilsk was just one employer to terminate several hundred jobs, and most of the small nickel operations have not reopened. Gold is still good obviously, and uranium at Yeelirrie, Mulga Rocks etc to come, but that is still a couple of years from being helpful to the town economy.
Why don't you look closer to home? Where are you, at Southern Cross? Surely that place has seen some capital growth with the Koolyanobbing development, and surely also some benefit as a service centre, from the nickel mine down at Forrestania?
If you can afford it, the Pilbara still seems to be the place for the best returns. The LNG developments sit nicely with iron ore to ensure a long term boom, and isolation and native title issues ensure restricted supply and high demand.
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