Your current exit strategy for mining towns? Specifically Moranbah, BlackwTer, Dysart

3 years

I have properties in Moranbah and Blackwater

We had a 4BR house in Moranbah that the original plan was to hold for 3 years.  However with events in the first half of this year resulting in enormous price increases late last year followed by mining companies deciding not to renew leases, which led quite suddenly to over 100 vacant houses available for rent, we modified our original plan and sold much earlier than planned.  We have no regrets at all, because house prices appear to have fallen since we sold.  We have forgone the cash flow and taken the capital gain, but if you sit down and add it up we would have taken years to get the same amount of $$ through cash flow as what we just got in capital gain.

In other words, decide based on what is happening, not a vague " lets sell in a few years time" plan.  Sometimes plans need to be changed and adapted for what is occurring outside your control.

At the end of the day when all the mines close and the town turns into a ghost town, you don't want to be the one with lots of houses there with giant mortgages you still have to service.

I'm sure he is……..

It's friday…..I'm in the mood for some 'expert' information before blowing the froth of a couple.

Enlighten me oh guru of the mining towns……

Hi Guys ,i have made money from his mentoring ,i don't know weather he has a crystal ball or a soccer ball ,i am not worried about the ball i am only concentrating on the money bit and the profit .