I know Iv’e seen the aformentioned ‘resources’ town talked about in previous posts…
But what are peoples thoughts on the town in the current market? given some volatility in the commodities sector, rising interest rates ect.
Is it still a place people are looking?
If you could find new h/l that would be CF+ on completion would you buy?
Any thoughts, options, experiences – would be great to hear.
Hi there,
Currently I have a few properties in Kalgoorlie, & although they are not quite CF+ I have received good capital growth.David
Hi David,
Thanks for the feedback
Any key points/thoughts on investing up there in the current market?
Have you learnt anything to date that you would do different?
Kal has a transient and declining population, many workers fly-in, fly-out, there are a lot of older properties there as well..
having said that, the place is “busy” again as was so during the last boom..I believe Mark HAY has a project underway there and during some periods of the year you “cannot” find accomodation (like now..Kalgoorlie Race Round is on..
Cant say there’s a lot of new developments going on from what i’ve seen;though as with most of WA its experienced some great CG.
Afriend recently sold his +CF Kal IP’s to invest in new projects in Mandurah..though I know of others who still hold thier Kal IP’s and are happy with the CG and +CF they’ve received
As for the future…?
“Money is a currency, like electricity and it requires momentum to make it Effective”
Online Positive Cashflow and Renovating CalculatorsThanks Redwing,
Always good to hear your thoughts.
I guess with Kal it’s an area that needs more research than most because your looking at two areas when investing – property and resources. So it’s not just a property market your looking at but also the commodities sector.
One of the reasons I ask is I think a developer we are looking at doing a capital raise for will have a release of h/l up there and although I was looking to buy up that way, if it’s CF+ and my views remain sound on the resource sector then perhaps it’s worth a closer look.
Anywhoo…if others have a couple of minutes to share their thoughts it’d be great to hear [specs]
The Kalgoorlie Miner is available at newsagents in Perth..so check it out.
A search on this Forum will show some great info as well as there are some members who hold properties there
“Money is a currency, like electricity and it requires momentum to make it Effective”
Online Positive Cashflow and Renovating CalculatorsThanks Redwing,
I suppose it’s an obvious place to look (the local paper) but a step I hadn’t considered. Thanks for that.
Anyone who does hold a CF+ in Kal or is looking to buy please share your thoughts.
If these block do come on the market I think I might have to give one consideration.
I have mainly concentrated on purchasing properties with long GEHA leases. Although the rents are slightly lower than on the open market, they do offer stability & a guaranteed income from a government department. I have also noticed that the majority of people renting like to live in the northern parts of Kal (ie. Hannans, Piccadilly & Lamington). [cigar]
David
Thanks Daviddanae,
Great to hear from someone that’s already got exposure too.
If I’m no intruding, what rental returns are you getting through the GEHA at the moment?
I usually won’t consider a property returning less than around 6%. The average return for my Kalgoorlie properties is around 6.5%. Feel free to PM me if you would like any additional info on the area. P.s. I currently live in Kalgoorlie. [cigar]
David
Kalgoorlie at present is starting to make a huge run. The expansions that are happening there are huge. There are several massive projects planned for the area in next few months one in particular with a company by the name of BHP (nickel west). I won’t mention any figures because I’m still coming to terms with what it will do to the market in the short term! Exciting times in the short to medium term in the goldfields of WA and the Real Estate is still dirt cheap and the returns are great!! Caution is still the name of the game, however “ya gotta be in it to win it!”
I’m not endorsing the goldfields but I am investing in Kambalda /Kalgoorlie and will continue to do so. Check it out!!
Cheers
Mikey P[strum]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
