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I invest and develop property in Orange, Wellington and Parkes. I also looked at Bathurst. Out of all the central west I beleive that due to the massive employment opportunities in Orange and this years impressive capital growth of around 17% so far, I would pick Orange first.
I am sorry to hear your broker has stuffed up so badly, you should put his name on the forum for everyone to see, our broker messed our loan also, and we nearly lost everything, thankfully we got through it okay but I should be charging my ex broker for all the hair dye I now use.
It sounds like your idea if works will be great and you and your husband should be commended for having a go. If it was mine I would do what ever it took to get it furnished, maybe use your own furniture and live in a caravan park for a while, we looked for work anywhere in australia and split up forces to keep the money coming in, my husband worked in wa for eight months while myself and the children lived in nsw and did pamphlets and any work I could get as low paid as it may be. keep tryingwe had the loan aproval extended aprox 3 times, the land finally got the title and was settled on the 17th of novenmber and construction started the next day, with today being the day I tried to get a progress payment on the slab and westpac told me the broker forgot to extend the construction loans aprovals which ran out on the 14th of november, they sent her a request for information re extension and gave her 14 days to respond in which they said they got no reply from her so they had no option but to let the aproval lapse
Hi Rudi, I also am looking to buy, but I personally would not buy at the moment unless there is atleast a 20% profit on purchase, through duplex subdivision in my case. I have read and heard that when interest rates fall finally than house prices should pick up, maybe we should both wait for that. at the very least we both should get valuers to give us a proper idea of the current value of what we buy, and than try to buy below it, not always easy
good luck to me and youHi we have four children, my hubby does fly in fly out from the east coast to wa 14 day on and 7 days of, we found it was better financially to stay on the east coast and pay for the flights, but now the company even pays our flights, my husband operates a drilling machine and earns 200000 a year all his food and accomodation and travel is supplied. we were earning 100000 at the mines in nsw. we have gone from broke to really well of with 4 investment properties, all thanks to the mines. GO WORK IN THE MINES YA
Hi we have four children, my hubby does fly in fly out from the east coast to wa 14 day on and 7 days of, we found it was better financially to stay on the east coast and pay for the flights, but now the company even pays our flights, my husband operates a drilling machine and earns 200000 a year all his food and accomodation and travel is supplied. we were earning 100000 at the mines in nsw. we have gone from broke to really well of with 4 investment properties, all thanks to the mines. GO WORK IN THE MINES YA
Hi we have four children, my hubby does fly in fly out from the east coast to wa 14 day on and 7 days of, we found it was better financially to stay on the east coast and pay for the flights, but now the company even pays our flights, my husband operates a drilling machine and earns 200000 a year all his food and accomodation and travel is supplied. we were earning 100000 at the mines in nsw. we have gone from broke to really well of with 4 investment properties, all thanks to the mines. GO WORK IN THE MINES YA
Hi I live one hour from parkes in nsw, parkes was on the latest hotspotting list for cheapies with prospects it has also been listed in 2 of the major investment magazines in the last 6 months,
there is good reason for this numerous infrastructure projects earmarked for the next 1 to 5 years and anticipated population growth of over 50% in this time frame BOOM!!!
currently cheap home from 100000 to 200000 are renting at close to 6.5% and if you buy new homes better depn building write offs rent is around 5% and new homes are priced from 270000 to 390000. the best part to purchase in is east parkes. I am a not working mother with 4 young children my husband works in wa fly in fly out, I live and breath real estate I know parkes inside out and am buying my third investment property there soon, I have made 220000 on my first 2(near new) .
good luck with your investingHi I would try either trying to sell them as a house and land ,find a cheap builder shouldnt be hard in a town of that size, I would market to first home buyers on a rent to buy basis ( they pay more than the normal rent until they have small deposit up check internet sites on how others market this type of offer.
the other thing I would do is market in the mjor papers to investers as house and land, emphasizing high rent return estimate and after tax deductions etc should be cost neutral. also check internet reseach for development or infrastructure projects in area and population growth as this is what investers love to hear when buying
good luck
theresaBE CAREFUL WITH TASSIES WEST COAST, I have lived most of my life in tasmanias west coast and than in burnie on the north west coast, the best way to get burned badly in property investment is buy and renovate in tasmanias west coast. I had three houses in burnie which I held from 1994 to 2002 and lost 50%, my of purchase cost (burnie) my parents had a hose they bought in 1988 and in 2001 it was worth aproximately 40% less. I lived at waratah for many years as we worked at the hellyer mine the property values on the west coat did not go up for about 18 years that actually fell quite considerably, than they went up sharply in 2002 and 2003. land was worthless on the west coast I was offered a house block near rosebery for nothing so the owner could get out of the annual council rates. I turned it down. I do not mean to scare you but I strongly reccomend spending as little as possible on the house you bought. Rents have always been really high on the west coast due to low property values, but captal gain wise its a long time between drinks unlike mainland aus which has regular increases
regards theresa [email protected]
