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G'day all,
I've just got back from a couple of days working out west and thought I'd post a bit of info on these areas to give you guys a bit of a run down.
I was working in Goondiwindi on the QLD/NSW border which is about an hour or so north of Moree and about 2 hrs SW of Toowoomba. Population is around the 7000 mark and the main industry in the area is farming, there is lots of good infrastructure in the town. They shouldn't really be affected by the mining in the Surat Basin, although it's only a few 100kms across to Dalby/Tara etc.
I saw a few places giving returns of around 7% with plenty of scope to add value and up rents, will have to look into these a little more to get a bit more of an idea what's possible. Vacancy rates are low and you'll sign up most places with long term leases (according to the agents I spoke to). I couldn't see any properties listed below $160k though, so nothing like the cheap ones down in Moree.
I went across the border to Boggabilla (under 10kms from Gundy), which shocked me a bit. I'd seen Nathan's Youtube videos of Moree etc. but had never really seen areas like that firsthand. I don't think that I've ever seen that many burnt out houses (and some of there were very new looking brick places) in one small area. I took a fair few photos and will upload if anyone is interested. Returns may be pretty good (see below link) but I'm not sure I'd actually like to go and work on one of these houses and I'd imagine that finding a tradesman to come an join me would be just as tricky. I'd say you'd be able to buy some of Nathan's burnt-out beauties here if you were keen?
http://www.realestat...eSort=price-asc
I had a look through Warwick (population around 10,000) for a couple of hours on the way back to Brissie and thought that it was a great little town. I only had a really quick look at agent's windows, but there are a couple of places listed around $150k and a set of flats I saw returning around 6.5%. Not flash returns I know compared to other places, but when you think that it's only 2hrs to Brissie and there's a bit of a tree-change movement happening out here; maybe there are some good deals out there - just have to find them.
It was a bit of a shock to the body going from warm Cairns last week to coolish Gundy this week! I think that's it for travelling for me for a few weeks at least. Doing Gympie/Maryborough/Bundaberg in early September and I think I'm off to Melbourne mid-next month. If any of these places show up decent returns, will pop something up on here too. Not so much Melbourne, but last time I went through Bundy and Gympie I saw a few potential purchases.
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Border patrol Checking out properties on the QLD/NSW border
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#2
holmesie 
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Posted 29 July 2010 - 10:39 AM
I was tempted by a property in Boggabilla recently, but was talked out of it. I'm surprised it's so bad considering it's proximity to Goondi - maybe it's a case of "out of sight, out of mind" 
Cheers
Holmesie
Holmesie
#5
Icarus
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Posted 30 July 2010 - 08:22 AM
No worries guys, attached a few pictures of Boggabilla. They are of the Wobbly-Boot Pub, (the place to be seen at) and a newish burnt out place with police tape out the front.
Holmsie, I guess it wouldn't be too bad if you could pick up a place cheap enough and then insure it properly/adequately? Just the thought of having that many insurance claims scares me off a bit.
Holmsie, I guess it wouldn't be too bad if you could pick up a place cheap enough and then insure it properly/adequately? Just the thought of having that many insurance claims scares me off a bit.
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#6
TassieHawk
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Posted 30 July 2010 - 10:52 AM
Icarus, on 30 July 2010 - 09:22 AM, said:
it wouldn't be too bad if you could pick up a place cheap enough and then insure it properly/adequately? Just the thought of having that many insurance claims scares me off a bit.
The no. of insurance claims would worry me a bit too (not that We'll be in market for anything soon anyway...)
#7
TassieHawk
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Posted 30 July 2010 - 10:53 AM
By the way, I enjoy reading your reports on the areas you get to.
Thanks for sharing them with us.
Thanks for sharing them with us.
#8
Icarus
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Posted 30 July 2010 - 01:16 PM
No worries TassieHawk,
All going well, I'll be down in Tassie later on in the year, around October I think? By the sounds of it, it might just be Launceston at this point in time, but it'll depend on the boss and what she says.
What part of Tassie are you in? I came so close to buying a couple of acres in St Helens (my uncle is an abalone diver down there) a couple of years back. Was an absolute bargain, but I'm teeing up my retirement a little too early I think? Still got a little way to go yet!
All going well, I'll be down in Tassie later on in the year, around October I think? By the sounds of it, it might just be Launceston at this point in time, but it'll depend on the boss and what she says.
What part of Tassie are you in? I came so close to buying a couple of acres in St Helens (my uncle is an abalone diver down there) a couple of years back. Was an absolute bargain, but I'm teeing up my retirement a little too early I think? Still got a little way to go yet!
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TassieHawk
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Posted 30 July 2010 - 01:52 PM
Were just out of Devonport.
We really love the St Helens area. My wife's PPOR was just out of there before we got married, and we get back down there whenever we can.
We always look about when we are there - as we'd both like to get something down there again
We really love the St Helens area. My wife's PPOR was just out of there before we got married, and we get back down there whenever we can.
We always look about when we are there - as we'd both like to get something down there again
#11
Icarus
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Posted 02 August 2010 - 08:57 AM
I really liked Devonport, we caught the ferry across a couple of years back and spent a night there before catching the ferry back to the mainland. Lovely eateries and restaurants!
My uncle's just out of St Helens too, he's got a little sheep acreage about 5kms out of town. It has the most amazing views of the bay from his back verandah, the place beside his came up for sale and we were really tempted, but it only had tank water and there hadn't been much rain that season so it's looking pretty rough. My GF fell in love with a block on a hill above the entrance to the town, it had amazing water views (as does most of coastal Tassie!) and was around $100k for a 800m2 block. Coming from QLD, waterviews for that price in a town of 10,000 people is unheard of! Maybe in a couple of years we can move there when we've got a few more things rolling?
Hi Bronz, not looking at buying anything in Melbourne. I doubt it could fit into my buying strategy. I look in smaller towns/cities for properties that are cf+ that can easily have value added to them/or subdivision potential.
My uncle's just out of St Helens too, he's got a little sheep acreage about 5kms out of town. It has the most amazing views of the bay from his back verandah, the place beside his came up for sale and we were really tempted, but it only had tank water and there hadn't been much rain that season so it's looking pretty rough. My GF fell in love with a block on a hill above the entrance to the town, it had amazing water views (as does most of coastal Tassie!) and was around $100k for a 800m2 block. Coming from QLD, waterviews for that price in a town of 10,000 people is unheard of! Maybe in a couple of years we can move there when we've got a few more things rolling?
Hi Bronz, not looking at buying anything in Melbourne. I doubt it could fit into my buying strategy. I look in smaller towns/cities for properties that are cf+ that can easily have value added to them/or subdivision potential.
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Ajay
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Posted 06 August 2010 - 07:12 PM
Icarus, on 29 July 2010 - 09:39 AM, said:
G'day all,
I've just got back from a couple of days working out west and thought I'd post a bit of info on these areas to give you guys a bit of a run down.
I was working in Goondiwindi on the QLD/NSW border which is about an hour or so north of Moree and about 2 hrs SW of Toowoomba. Population is around the 7000 mark and the main industry in the area is farming, there is lots of good infrastructure in the town. They shouldn't really be affected by the mining in the Surat Basin, although it's only a few 100kms across to Dalby/Tara etc.
I saw a few places giving returns of around 7% with plenty of scope to add value and up rents, will have to look into these a little more to get a bit more of an idea what's possible. Vacancy rates are low and you'll sign up most places with long term leases (according to the agents I spoke to). I couldn't see any properties listed below $160k though, so nothing like the cheap ones down in Moree.
I went across the border to Boggabilla (under 10kms from Gundy), which shocked me a bit. I'd seen Nathan's Youtube videos of Moree etc. but had never really seen areas like that firsthand. I don't think that I've ever seen that many burnt out houses (and some of there were very new looking brick places) in one small area. I took a fair few photos and will upload if anyone is interested. Returns may be pretty good (see below link) but I'm not sure I'd actually like to go and work on one of these houses and I'd imagine that finding a tradesman to come an join me would be just as tricky. I'd say you'd be able to buy some of Nathan's burnt-out beauties here if you were keen?
http://www.realestat...eSort=price-asc
I had a look through Warwick (population around 10,000) for a couple of hours on the way back to Brissie and thought that it was a great little town. I only had a really quick look at agent's windows, but there are a couple of places listed around $150k and a set of flats I saw returning around 6.5%. Not flash returns I know compared to other places, but when you think that it's only 2hrs to Brissie and there's a bit of a tree-change movement happening out here; maybe there are some good deals out there - just have to find them.
It was a bit of a shock to the body going from warm Cairns last week to coolish Gundy this week! I think that's it for travelling for me for a few weeks at least. Doing Gympie/Maryborough/Bundaberg in early September and I think I'm off to Melbourne mid-next month. If any of these places show up decent returns, will pop something up on here too. Not so much Melbourne, but last time I went through Bundy and Gympie I saw a few potential purchases.
I've just got back from a couple of days working out west and thought I'd post a bit of info on these areas to give you guys a bit of a run down.
I was working in Goondiwindi on the QLD/NSW border which is about an hour or so north of Moree and about 2 hrs SW of Toowoomba. Population is around the 7000 mark and the main industry in the area is farming, there is lots of good infrastructure in the town. They shouldn't really be affected by the mining in the Surat Basin, although it's only a few 100kms across to Dalby/Tara etc.
I saw a few places giving returns of around 7% with plenty of scope to add value and up rents, will have to look into these a little more to get a bit more of an idea what's possible. Vacancy rates are low and you'll sign up most places with long term leases (according to the agents I spoke to). I couldn't see any properties listed below $160k though, so nothing like the cheap ones down in Moree.
I went across the border to Boggabilla (under 10kms from Gundy), which shocked me a bit. I'd seen Nathan's Youtube videos of Moree etc. but had never really seen areas like that firsthand. I don't think that I've ever seen that many burnt out houses (and some of there were very new looking brick places) in one small area. I took a fair few photos and will upload if anyone is interested. Returns may be pretty good (see below link) but I'm not sure I'd actually like to go and work on one of these houses and I'd imagine that finding a tradesman to come an join me would be just as tricky. I'd say you'd be able to buy some of Nathan's burnt-out beauties here if you were keen?
http://www.realestat...eSort=price-asc
I had a look through Warwick (population around 10,000) for a couple of hours on the way back to Brissie and thought that it was a great little town. I only had a really quick look at agent's windows, but there are a couple of places listed around $150k and a set of flats I saw returning around 6.5%. Not flash returns I know compared to other places, but when you think that it's only 2hrs to Brissie and there's a bit of a tree-change movement happening out here; maybe there are some good deals out there - just have to find them.
It was a bit of a shock to the body going from warm Cairns last week to coolish Gundy this week! I think that's it for travelling for me for a few weeks at least. Doing Gympie/Maryborough/Bundaberg in early September and I think I'm off to Melbourne mid-next month. If any of these places show up decent returns, will pop something up on here too. Not so much Melbourne, but last time I went through Bundy and Gympie I saw a few potential purchases.
Great post!
Surely that property would be CF+ @ 250 per week...I wonder what insuarance woudl cost for a place like that though..
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