[Jamie2013Member@jamie2013Join Date: 2013Post Count: 5]

June 27, 2013 - 10:10 pm

thanks for the replies. i called my bank yesterday and they do 95% lending. we are looking at horsham.

does anyone know any good affordable builders there? 

[Jamie2013Member@jamie2013Join Date: 2013Post Count: 5]

May 19, 2013 - 12:18 am

Hi guys. Thanks for the response. 

I have done a bit of research on the vacancy rate in broken hill and from what I can see its low. Around 1.47%

Im unsure why there is so many for sale there though? I know the properties here have really dropped in value over the last few years but it makes me wonder if it could get worse?? Or go up a little? Maybe it's the right time to buy here?  At this stage I'm looking at the high rental return rather than capital gains (although it would be nice). Also with a population of 19000 it's not like the town is just going to stop over night, right? 

The most difficult part for me is saving the deposit for my first IP which is why I'm looking on the cheaper side of things, I'm really keen to get started ASAP lol

Here is an article I found.  http://www.propertyobserver.com.au/hotspots/broken-hill-and-kalgoorlie-no-longer-as-risky-for-property-investors-but-some-mining-towns-unsustainable-westpac/2012071955639

And another

http://www.propertyobserver.com.au/hotspots/tourism-helps-broken-hill-shed-its-one-horse-mining-town-investment-status-as-deloitte-s-questions-mining-boom-longevity/2012072255635

would still love to hear from someone who is also looking at broken hill to invest. 

As for mount morgan, I have been looking here for a while too but the property is more expensive at around 110,000 which is fine but more time saving is needed . 

QLDS007 – so you no longer have property in mt Morgan other than your SMSF?  I heard the gold mine is opening again ? 

Thanks in advance

[Jamie2013Member@jamie2013Join Date: 2013Post Count: 5]

May 18, 2013 - 9:55 pm

Thanks for the info. The population of broken hill  is 19000 or there abouts.  Why do you need a 20% deposit for this area?  

JacM- I'm self employed and my borrowing power is only up to $120,000 at the moment. 

Also been looking at moree, mt Morgan, and mildura. What does everyone think of these areas?  It's hard to find good areas with such a low budget so any info is really appreciated. 

Thanks again in advance.