Wagga Wagga

Hi there

If you’re going to buy an IP in wagga I’d recommend that you actually hit the ground and check it out in person. There can be good and bad patches on the one street in some areas.

Generally speaking, Tolland, Mount Austin and Ashmont have a lot of the ex dept of housing stock that’s constantly auctioned off by LJ Hooker. There’s some decent yields in the area – but tenant selection is paramount so you’ll need a good PM looking after your property.

Cheers

Jamie

No worries. What sort of IP are you looking for? If you're in the market for one the cheap ex housing stock, it would be worthwhile getting on the LJ Hooker mailout list. They send a regular update of upcoming stock. Most of it goes for around $100k – $150k and needs work.

Cheers

Jamie

Hi,

did you manage to buy any IP in Wagga Wagga. I am hoping to drive there this weekend.

Use to live there and worked on the capital projects in the area. Have a flood map showing lidar analysis of the entire area on a cd somewhere which isn’t readily available to the public. If I can find it and figure out how to upload it I will.

Central: Close to everything except university. Prices are steady and some flooding along Fitzpatrick St. University and professionals rent here.

Wagga Wagga North: Flood area, a lot of the developments here are not approved.

Mt Austin/Tolland/ Ashmont. Housing commission, some great bargains, though need to know the area as certain streets are really bad and to be honest, and every street is different from the next. Spent a lot of time doing community work here, actually nowhere near as bad as they make it out to be, definitely worth a look. Most of the local agents are a little ‘too close to home’ to know anything about the area and provide non bias feedback – may as well be another world with a giant fence and flaming sword blocking the entrance. Talk to indigenous liaison officer and police, may be more specific about which streets are which.

Kooringal: Where I would say majority of the average folk reside, some good bargains at $300k is mark. Average familys rent here.

Bourklands/Tatton: Tatton from memory was the more expensive of the two suburbs, nice looking area, poor soils in Tatton, could find your house will have cracks in the near future (beware agents talking up the area). Though the community was incredibly nice and friendly.

Glenfield Park: Newer-ish developments, $400k nice new houses, big blocks. Not sure if I would invest here as there is plenty of land to be developed further back on church land. A lot of home-owners.

Springvale: Larger blocks, kinda far from everything. Expensive for Wagga. Most residents like to keep to themselves.

San Isidore: Considered far out of town by locals, and residents are generally against any new development.

Forest Hill: Close to airport, and army barracks. Seems to be a spot to look at.

Estella: Close to university, shops are being built/have been built there last I spoke with the local developer. Prices already seem a bit steep. University students rent here, and in central.

Cartwrights Hill: Near abattoirs, smells, close to all industrial area.

Areas further out like Ladysmith etc, have flood issues.

Sure, I’ll look for it when I get home to Sydney this weekend.

My colleague and investment advisor TOM RYAN, no joke, happens to be staying at the Western Ambassador this weekend. I told him about the offer, I hope you don’t mind

Hi NHG and lpool05.

You're most welcome, hey hope Tom Ryan enjoyed his stay Been in Fiji at the Best Western annual conference so was a bit out of touch last 10 days. I'll check with my motel managers in Wagga when I'm down there next week to make sure they applied the discount as I emailed instructions to discount the rate for any visiting forum members.

Cheers

thecrest