Hey Guys,
Would you suggest buying in a mining town in the current market? There are massive rental yields that could be taken advantage of, >11% in some locations.
I understand that it will vary on the town; riskier or safer depending on what commodity they are related to, how many mines they service, life span of current mines within range, new projects opening etc.
Thoughts would be appreciated,
thanks.
This could easily be a yes or no answer- and both answers would be right
As you mentioned ” it will vary on the town; riskier or safer depending on what commodity they are related to, how many mines they service, life span of current mines within range, new projects opening etc.”
My personal thought;
When you BUY something with high returns = high risk
When you CREATE something with high returns = Sweet*create- can come in many diff form, does not need to be construction and subdivision only….
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
well obviously depends where got any ideas yet?
Plenty of little towns that have been surviving for years of money from alot other services ie government
It depends how long you want to hold it for as well? is it for 5 years or 10 years quick money or slow?
town i am in has house for 270,000 rented out at least 450 a week
There is new land being released but because of the mission it is too get houses here it isn't practical for locals to buy and transport so builders buy as many blocks as they can then sell the houses at 390 and they are rented at 650 a week.
food for thought
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