Hi there, i have just seen an old post for investing at Broken Hill, as I was also looking at BH for my next investment. I am from WA so it is my 1st time looking interstate.
Can I get your thoughts people, on the following.
i am considering and comparing investing here to perhaps that of a wa mining town – Karratha and surrounds? Any thoughts? It would also be a buy without viewing if it is BH.
i need low risk and money in my pocket each week. I can’t afford for potentially high vacancy rates, due to cf.
Also, I have approximately 90,000 in Super, and wanted to consider smsf? I believe it is costly to set up, but can someone advise on how it works. Ie as it is a Superfund doing the investing, would I still have access to the +ve CF? or would i need to let it build up again and use as a deposit for another IP?
I also have my ppor valued at say 490,000 and one IP valued at say 400,ooo, with loans of 635,000. Equity therefore of 255,000. Is it better therefore to use my equity here or go the smsf?
We have a household income of around 100,000 PA so would hope serviceability isn’t an issue…
thanks for your help anyone and everyone :)
Sorry about the above format, my ipad won’t allow me to go back and edit!
Hey Sandtrackers,
Yeah it was a bit hard to read your original post.
Anyway, here are some feedback from some of your comments.
If you’re planning to buy without viewing, be sure to still at least get building inspections and pest inspections done on the property and have the reports sent to you before you settle on the property. That’s what I have done when I’ve bought site unseen.
Also, you asked about SMSFs. I was looking at them recently as well, and I was reading around before that it was suggested that you needed at least $200,000 in your SMSF to make it worth your while, but recently I found out about ESUPERFUND which helps you set up a SMSF even if you have below than $200,000 in your super.. Read this for more info: http://esuperfund.com.au/articles/the-200000-smsf-myth.html (I am in no way related or affiliated with esuperfund, I just have been reading up on SMSFs as I have been looking into them like you have).
All fixed..
Hi there, i have just seen an old post for investing at Broken Hill, as I was also looking at BH for my next investment. I am from WA so it is my 1st time looking interstate.
Can I get your thoughts people, on the following.
i am considering and comparing investing here to perhaps that of a wa mining town – Karratha and surrounds? Any thoughts? It would also be a buy without viewing if it is BH.
i need low risk and money in my pocket each week. I can’t afford for potentially high vacancy rates, due to cf.
Also, I have approximately 90,000 in Super, and wanted to consider smsf? I believe it is costly to set up, but can someone advise on how it works. Ie as it is a Superfund doing the investing, would I still have access to the +ve CF? or would i need to let it build up again and use as a deposit for another IP?
I also have my ppor valued at say 490,000 and one IP valued at say 400,ooo, with loans of 635,000. Equity therefore of 255,000. Is it better therefore to use my equity here or go the smsf?
We have a household income of around 100,000 PA so would hope serviceability isn’t an issue…
thanks for your help anyone and everyone :)
Broken Hill has been in contraction since the GFC albeit slowly, however, that may well accelerate as the commodities boom comes to an end. The investment opportunity in Broken Hill was a decade or more ago. When a towns major employers are the health sector and retail you have to ask yourself ‘do you feel lucky?’
i bought in broken hill recently,& am settling in a week.
i have no regrets,people have been bagging out BH for years,but it’s still there.
The CBA asked for 10% deposit,& that’s it,no other problems.
the house cost $74k.it needs about $5k worth of renovations,& will be good for about $180 a week.
No problems for me,at all.
The upper end of the market in BH,say the $200k plus homes,are selling.I don’t see people spending that in a town if it’s falling over.
Wellington in the central west,has pretty much ran out of sub $90k houses,BH has plenty however,but time will tell where the prices go.-
This reply was modified 10 years, 4 months ago by
German On Quicksales.
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