Whats everyones thoughts?
Was hoping to find some comments here but unfortunately not. I have a block of 4 units in Horsham, bought cheap and good rents with no difficulty finding tenants. There’s always a lot of property for sale in Horsham.
Now that the drought has broke I cant see anything wrong with it.
Doesn't seem too bad a town,i visited there a few months ago. I would think it is more of a cheap entry and potential cash flow area than big capitals gains,though this could be created through some smart dealings there with some due diligence first. Some nice areas around the river with newer housing stock too.
It doesnt pass my 8pm rule.
Really thats all that needs to be said.
I set these rules because they just seem to work.
The 8pm rule is quite simple .. if there isnt a decent nightlife after 8pm .. there isnt a reason for investing there.
Its actually quite an important rule because the 8pm rule allows for tourism and travellers .. young and the young at heart to indulge.
And thats very important for the ongoing wellbeing of a modern town. Outside of that .. you'll be getting many generational pastoralists and elderly community representatives. Thats the sign for a dying town .. as it doesnt have the support and ongoing impetus with modern facilities to keep it going.Rural economies at the moment really dont get the praise .. infrastructure or commitment from the government they should. And Horsham and Stawell are prime results of this. Can it change? Absolutely .. but it needs an ongoing positive trendline to become a worthwhile asset and longer term investment.
I was there last weekend, and while I wasn’t looking for a nightlife I did think the main street was pretty busy at 7:30pm. There were heaps of people at cafes and restaurants, enjoying alfresco dining. Most of them seemed young and dressed up for the evening not just a quick bite. Perhaps things are changing already?
Why would you invest in Horsham
Nigel Kibel | Property Know How
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Cheap entry point,potential positive cashflow, isn't that reason enough to warrant some investigation? What ROI would an investor get putting their money into one of your developments Nigel?
Solomon10 wrote:Cheap entry point,potential positive cashflow, isn't that reason enough to warrant some investigation?The exact reason we invested Solomon10, sure there are plenty of other places we could invest but for $200K on a 90% loan we manage to get a $600/week return. Not sure I have seen too many of those deals elsewhere, and I have no plans to invest overseas atm.
Clients that invest in our developments make 40% on there money since you are asking. They are all in inner city suburbs of major cities
Nigel Kibel | Property Know How
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That is excellent Nigel, stirling effort.
Does anyone know what the vacancy rate is?
Thanks
Nigel Kibel wrote:Why would you invest in HorshamThe mines and seperation plant Nigel . The projected 1000 jobs created will have a massive effect to a town like Horsham.
From wiki:
http://en.wikipedia.org/wiki/Horsham,_VictoriaServices and attractions
Tourism is not a major industry in the city, although it is near the Grampians National Park and the popular rock climbing destination Mount Arapiles. There is a tourist wool factory where it is possible to buy woollen products and view how top quality wool is grown in covered sheds.There is a walk along the Wimmera River, which is restrained by a weir, but the water flow is rather intermittent, due to a drought which also makes the farming industry harder for the farmers.Horsham Botanic Gardens, located by the Wimmera River, were designed by notable landscape architect William Guilfoyle.
And only $15,000 population. Doesn't quite sound like a hotspot at the moment, and with mining would still be a single industry town???
I aint investing in Horsham but I will say that it isn’t a mining town and definitely isn’t a single industry town either.
I recently purchased a property in Hamilton, nearby to Horsham.
Honestly the infrastructure there is fantastic, there were numerous pubs and stores such as sushi bars and EB games, there are 2 senior football teams and 10 schools including a university.
Did you consider purchasing in Hamilton?
Again this all needs to be related the low purchase price of the property, hence the decision to buy in Regional Victoria
Also has plenty of businesses. There’s Coles, Woolworths and Aldi, Target and K-Mart, Spotlight too. Mc:Donald’s is there too. When we were doing renovations we could easily find all the hardware we needed at the smaller stores – no Bunnings in Horsham. But there are plenty of plumbing supplies and floor covering places. A good selection of cases and restaurants are in the downtown area too. I also noticed a bit of subdivision in the central area and some new housing estates.
Yeh I couldn't believe when I went there how modern and commercial it was, I was only going down for a look at some cheap properties to think about and before I knew it I'd made an offer!
Hamilton is very much the same I had everything I needed for my repairs and improvements and a few stores to chose from for the tools, materials and supplies.
There are also numerous and diverse restaurants there too.
As opposed to buying a house for tripple the price where I live (mornington peninsula), i am very happy with my choice so far
Im looking to purchase my first investment property over the next two months and Horsham has come on my radar as well. Its well priced, potential for excellent rental returns, all the amenities required and a resonable sized rural town (15k ppl). As an entry point to property investing it looks like a very good option to me.
I checked out some listings for Horsham as they seem to have some good returns…..but I am a little worried about the listings I have seen, they have the following listed;
This property has been inspected for white ants by Bug ‘R’ Off Pest Busters, an independent qualified pest control company using their termite detection sniffer dog, which gives a 98% strike rate at locating termites as opposed to human pest control which at best runs a 70% success rate.
Does this mean there is an issue with this sort of thing???
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