Hunter Valley and Central QLD especially seem to be the areas of choice right now. Gladstone in particular, alot of people don't realise how big this is and its only just started:
Hi ,
Just wondering on the topic of Gladstone – does anyone know of or know how to find out
which suburbs are near the new LNG MInes ?Thanks
Hi,
I Bought a house in Whyalla SA in 2005 and spend 6k on it, sold it for twice the amount in 2009 and always had a tennant in it paying a good rent. The real estate agent was good. Had one nightmare tennant which the realestate agent removed very diplomatically and was full again in four weeks. At the moment I am again looking at buying here due to the expansion at roxby, most families will want to live in the bigger towns like Port Augusta and Whyalla that have the schooling an amenities, its a bus in bus out situation for the workers. I have one investment property in Whyalla which has a great tennant in it from the day after I bought it until now ( four years ) and one in Port Augusta that is 3.6 acres horse property. The port Augusta one I intend to keep for a few years until the boom and then demolish, subdivide then build. Its a buyers market in Whyalla and Port Augusta ATM. My Horse property in port Augusta is on the market atm due to wanting to buy in Whyalla where I live. I prefer to be closer to my investments so if things go west I am able to deal with it myself. No one is looking and there are alot of goopd properties in both towns at great prices. Im just a small invester at the moment but by investing in these towns I have done very well and recommend them for 2 to 4 year investments.Bowen Qld
Hi Paul,
Bought in Emerald last year. Bought in a high & dry area. Do your reserch as it will apy off I.E Rent increase of $100p/w in the 1st year & $30K capital growth.
Regards
LeftyLefty wrote:Hi Paul,Bought in Emerald last year. Bought in a high & dry area. Do your reserch as it will apy off I.E Rent increase of $100p/w in the 1st year & $30K capital growth.
Regards
LeftyHi Lefty,
I also got into Emerald early last year. Picked up a little cracker on Esmond Street – Sarah Court. High and dry and its doing very well for us. Great cashflow and some really good growth over such a short time frame. I’m confident the best is yet to come…we are only just starting to warm up.
I’m very bullish on the underlying fundermentals in and around Emerald and I think we are in for a terrific ride over the medium to long term.
I’m keeping a very close eye on the developments out in the Galilee Basin.
Where are you mate?
Jack.
Hi Jack,
I am in Negoa Rise. Which property manager are using?
Lefty
jojo42 wrote:Hi ,
Just wondering on the topic of Gladstone – does anyone know of or know how to find out
which suburbs are near the new LNG MInes ?Thanks
I have a report that shows every existing and proposed Mine and LNG project in the entire Central Qld area, happy to send it to you if you email me.
Lefty wrote:Hi Jack,I am in Negoa Rise. Which property manager are using?
Lefty
Hi Lefty, I'm with Athene @ Ray White. I've found her to be very good and not shy on keeping the rents up to market value. I've had a couple of good long chats with her and get the feeling that If I was a tenant I wouldn't want to get on the wrong side of her! Don't get me wrong she's lovely but doesn't <moderator: delete language> and that's reassuring as a landlord. How about you mate? Jack
Cath Wood wrote:A few years back I bought 3 properties in small mining towns in WA.In one of the towns, everything that could possibly go wrong did.
- The mine closed down.
- The 'property manager' recommended by the real estate agents turned out to be a crook whose idea of good property management was to collect rent from 50 houses but not pass it on to the owners.
- The guys that looked after maintenance left town.
- My property was vacant for pretty much the entire time I owned it and was broken into multiple times.
- It was uninsurable.
- The mining company decided to dump their entire stock of housing on the market at any price they could get for it.
- I sold it a little while back and had to put money in to allow the sale to go through! OUCH!!! However, I still pinch myself with relief that I no longer own this nightmare property.
The other 2 properties, in another town, have fared much better. They have still been challenging, but nothing like the first one. I have long term tenants in one of the properties who want to buy it and therefore treat it like their own. The other property is lower quality and the level of tenant has reflected that.
Both those properties have theoretically increased in value significantly, however there are currently no sales comps because the agent (from a town 200km away) who was servicing the area suddenly disappeared and it took a while for another agent to succumb to the pressure to take on this place.
Personally, I would not invest in a tiny mining town again. There are so many challenges to overcome and everything is difficult because tradies and supplies have to travel a long way. Plus, mining companies seem to pull in and out of these towns on the slightest whim.
Having said that, there are also some upsides so I have had some fun along the way.
- The people are WAY different to your average Jo.
- Tenants understand that a mining town house will not be the same as a city house. It is NOT uncommon for tenants to organise repairs themselves then just casually tell you in passing.
- The locals are very friendly and helpful. Once you befriend the right person, you'll get random texts saying things like "hey I notice your house looks pretty quiet, do you want me to go and check if your tenant has done a runner?"
- The cops and the people in the shire will actually tell you stuff you need to know.
- The towns themselves are pretty funky and quite fun to visit for maintenance trips. Having dinner in the local pub after a hard day of work is…..memorable. If a groovy modern song starts up on the jukebox, one of the locals will go and hit it, and everyone else will cheer. You will be the only one who wished to hear that song, so naturally you will stay very quiet.
I think this is not a real fair comment. You can not compare Ravensthorpe (where all this happened) with Karratha and Port Hedland. This is a clear difference with a mining town and a future mining town. The Ravensthorpe mine never worked. I can only talk for WA because is where I have all my experience and the pilbara and mid west is full of mines which will be here for many years. Two weeks ago BHP announced that they are investing 7 billions in WA, so Port Hedland has construction for the next 5 years and operations for another 10 to 15 easy. Karratha has Rio Tinto, Woodside, Dampier Salt and Burrup Fertalizers, so if all these industries go down, don’t worry because all Australia stops anyway. I think it’s fair to say that the risk on the north of WA is very low and the returns are very high, very uncommon, but real. I have a house in Karratha and looking into my second IP in Port Hedland at the moment. Also the people up there go for work, so the houses are usually kept pretty well.
I was also looking into the Qld mining towns, very interesting as the properties are a lot cheaper.This is my point of view.
Happy investing to everyoneMosqui
what lvr do you get in karratha?
Genworth location guide will tell you:
http://genworth.com.au/lender-resource-centre/tools-and-resources/location-guide-australia/wow there's heaps of comments on here… but from what I understand… I reckon they're high risk and you'd probably wanna sell before the bubble bursts right… But how would you determine that… Lots of research… Property is meant to be easy I reckon you're better off investing into capital cities esp Melbourne and Sydney and that way you have pease of mind… WHo knows their might be a floor or something in the town and before your property can get any value BOOM its gone way down… Hope that makes sense
oh and I reckon if you go the casino… you should invest in mining towns
Probably a good idea to research a little before commenting, foreign investment in Gladstone has increased to over $140 Billion. QLD has lifted the lid to pandoras box with the current and future demand for LNG. That's not just some ordinary mining town. Email me for the 'project status reports' showing these figures if you like.
Hi guys
Im interested in any one who has invested in Port hedland or south hedland or who has any relevant info and there experiences good or bad
I mean it looks to good 11% yields, Im after cashflow not to concerned about growth, I have IPs in other capital citiesthanks in advance guys
People truly don't realise the wealth throughout the Surat & Bowen Basins.
Our clients whom have purchased in Chinchilla have seen 50k in capital growth over the past 6 – 12 months. Roma clients have seen solid capital growth also but the rents have remained very high even through the tougher times.Now is the time to buy as it is going to go banana's of the course of the next few years and you need to hang on for the ride.
I tend to lend myself to potential mining towns, where the outlay is very small.
I remember people telling me I was mad about investing in West Wyalong a few years back. The housing was dirt cheap, in inside of 4 years I doubled my money on one property, almost tripled on another.
The one place now that has my attention is Oaklands NSW. There is a Coal and Allied mine there undeveloped with a price tag pretty hefty as they didnt want to just offload it for nothing recently.
Coalworks is doing studys, completed drilling a while ago and want to develop a coal to liquids plant.Once again, another pretty cheap town close to regional centres Albury and Wagga (In between), strong farming employment to carry the rent till the mining starts and potential for growth is pretty significant.
Even without a capital gain from mining the rental returns are somewhere from 6% to 10% depending on what quality house you get.
I bought in Blackwater in the early days, I was (still) employed with Utah now BMA, I bought the company house for $8000 which seemed somewhat ludicrous back then because everyone was renting off the company for $15 a week, I received my $7000 First Home Buyers Grant, sold it many years later for $220,000, $20,000 under market value (sold it to family member), that style of house is now selling for $300-$400,000 depending on upgrades/makeovers etc, I bought another house 4 years ago for $385,000 that had been extensively reno’ed (a bargain) it’s now valued at $430-$450,000. I’m looking at 2 other properties here, 1st returns 10.1% gross,….2nd 10.4%
JaSin66 wrote:I bought in Blackwater in the early days, I was (still) employed with Utah now BMA, I bought the company house for $8000 which seemed somewhat ludicrous back then because everyone was renting off the company for $15 a week, I received my $7000 First Home Buyers Grant, sold it many years later for $220,000, $20,000 under market value (sold it to family member), that style of house is now selling for $300-$400,000 depending on upgrades/makeovers etc, I bought another house 4 years ago for $385,000 that had been extensively reno’ed (a bargain) it’s now valued at $430-$450,000. I’m looking at 2 other properties here, 1st returns 10.1% gross,….2nd 10.4%i read on the forum that someone in blackwater was trying to sell their property for 12months and couldn’t sell it.??
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