I live in Broome WA, have 2 properties here with some equity (have been -gearing) and am interested in positive gearing, not likely in Broome, apart from possibly at a local Caravan Park. It seems that this is more likely down south of Perth. Is it feasible to invest without having to travel over 2000 k’s to buy and manage? Maybe a once off trip might be necessary. Any idea’s on this. Checking on the Internet, I can see that Tasmania is another place that the 11 second rule applies to, but know nothing about the area. Australia is just TOO BIG!
As to the Caravan Park scenario in Broome, you can buy a Caravan on site for $40k and rent it out most of the year if not all year for $90 – $100 pw. Is this a good investment? I realise capital gains would probably be low. You can also buy chalets at the same park for about $60k that rent for $130 – $150 pw, pretty much all year. These are the only options in Broome that come close to the 11 second rule.
[8D]
KimHi Kimmy,
Those caravan park options sound good re return but are they subject to management fees from the park owners? Do the no.’s still stack up?
Regarding remote buying and selling – good question, especially for your side of the world. What about a bit closer eg Karratha?
Cheers,
MelKimmy
I think you in better location then most to find positive geared properties.
Karatha,
Port Hedland and South Hedland
Derby,
Tom Price,
NewmanGive local agents a call .
Thanks, always thought they’d be too expensive (like Broome), I’ll certainly check them out.
Kim
KimmyI think you in better location then most to find positive geared properties.
Karatha,
Port Hedland and South Hedland
Derby,
Tom Price,
NewmanGive local agents a call .
Hi Kimmy,
I’m in Broome too and am checking out places near Perth. I did as much on the ‘net and papers as I could and am now in Perth checking them out physically. From this, I can get a real feel for the towns and also have a chat to the locals as well.
It has paid off, as I have just found 2 very +ve geared property and the sellers have accepted my offers today[
]As for Broome/Derby/Hedland… well, the numbers don’t stack up in Broome (my investment is just breaking even) even with the caravan park, the strata and council fees means that the 11 second rule won’t work. In Derby you’ll be hard pressed to be +ve geared (but its possible you could find a bargain) And Hedland has had a negative population growth by 11% and 16% for the last 2 years respectively. This is just what I’ve found so far in these areas.
Maybe we could catch up over a Boulevard coffee sometime?
Cheers,
Shell.I live in perth, and was thinking of flying to karratha for all the great returns up there! I guess it is worth looking here harder first, if you have come here from Broome, and managed to find something positively geared. Well done![
]Hi Shelly,
Thanks for your info. I am with you, I don’t think the North West is a place to +ve gear either and I would prefer to buy in the lower price range even so.
Coffee at the Boulie sounds good.
Kim
Hi Kimmy,I’m in Broome too and am checking out places near Perth. I did as much on the ‘net and papers as I could and am now in Perth checking them out physically. From this, I can get a real feel for the towns and also have a chat to the locals as well.
It has paid off, as I have just found 2 very +ve geared property and the sellers have accepted my offers today[
]As for Broome/Derby/Hedland… well, the numbers don’t stack up in Broome (my investment is just breaking even) even with the caravan park, the strata and council fees means that the 11 second rule won’t work. In Derby you’ll be hard pressed to be +ve geared (but its possible you could find a bargain) And Hedland has had a negative population growth by 11% and 16% for the last 2 years respectively. This is just what I’ve found so far in these areas.
Maybe we could catch up over a Boulevard coffee sometime?
Cheers,
Shell.
Hi Kimmy,I’m in Broome too and am checking out places near Perth. I did as much on the ‘net and papers as I could and am now in Perth checking them out physically. From this, I can get a real feel for the towns and also have a chat to the locals as well.
It has paid off, as I have just found 2 very +ve geared property and the sellers have accepted my offers today[
]
congratulations
do you mind me asking what areas of perth you found these, as north like karratha etc seems to be the only placeAs for Broome/Derby/Hedland… well, the numbers don’t stack up in Broome (my investment is just breaking even) even with the caravan park, the strata and council fees means that the 11 second rule won’t work. In Derby you’ll be hard pressed to be +ve geared (but its possible you could find a bargain) And Hedland has had a negative population growth by 11% and 16% for the last 2 years respectively. This is just what I’ve found so far in these areas.
Maybe we could catch up over a Boulevard coffee sometime?
Cheers,
Shell.I wouldn’t mind having a look at Karratha and perhaps Geraldton at some stage.. just need to do some homework first.
I think as long as you can make money out of tents in your back yard – GO FOR IT!! [
]Kimmy, feel free to email me anytime [email protected]
Cheers,
Shell.interesting website on karratha and
surrounding area
http://www.roebourne.wa.gov.aukimmy
go to http://www.theinvestorsclub.com.au
they provide a fantastic service, give you discounts on heaps of preperties, arrange for professionals to look after almost everyhting for you, and all can be done over the internet.
I’ve bought 2 properties from them and cannot recommend them more highly, this includes 1 in Kalgoorlie that’s giving a huge positive cash flow.
CheersHi Carbloke: Care to mention the % return you’re getting in Kal? I find that the average is close to 9%. 10% should be doable if you bargain hard on several places until you get one to accept your offer.
Though I’m a skeptical re ‘discounts’ being offered. I’d thought they’d want to charge you extra for all the due diligence work they’re doing on your behalf!
Peter
Thanks for that info, will certainly check out the investers club and kalgoorlie. I have never been there, apart from passing through on a train years back. Did you manage to get your properties rented out OK? There is still alot of industry going on in Kal I guess, so should be OK?
Kim
kimmy
go to http://www.theinvestorsclub.com.au
they provide a fantastic service, give you discounts on heaps of preperties, arrange for professionals to look after almost everyhting for you, and all can be done over the internet.
I’ve bought 2 properties from them and cannot recommend them more highly, this includes 1 in Kalgoorlie that’s giving a huge positive cash flow.
CheersHi rainmaker,
any connection with the other Shelly from Broome who mentioned coffee at the Boulevard?
Maybe we should all catch up. You can email me at [email protected]
Thanks for your info. You sound like you’ve done well, good on you. So they are out there, that’s good to know. I’m going to head down south around November and have a wee look see. My brother and I bought a house in Bridgetown, which he will move into, so it’s not a +tive geared home, but still better than renting I reckon. Thinking of maybe Albany, or as carbloke says, Kalgoorlie is a good possibiltiy.
Cheers
Kim
Hi Kimmy,I’m in Broome too and am checking out places near Perth. I did as much on the ‘net and papers as I could and am now in Perth checking them out physically. From this, I can get a real feel for the towns and also have a chat to the locals as well.
It has paid off, as I have just found 2 very +ve geared property and the sellers have accepted my offers today[
]
congratulations
do you mind me asking what areas of perth you found these, as north like karratha etc seems to be the only placeAs for Broome/Derby/Hedland… well, the numbers don’t stack up in Broome (my investment is just breaking even) even with the caravan park, the strata and council fees means that the 11 second rule won’t work. In Derby you’ll be hard pressed to be +ve geared (but its possible you could find a bargain) And Hedland has had a negative population growth by 11% and 16% for the last 2 years respectively. This is just what I’ve found so far in these areas.
Maybe we could catch up over a Boulevard coffee sometime?
Cheers,
Shell.
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