Any positive news for Townsville please

Discussion in 'Where to Buy' started by Big Maan, 5th Dec, 2017.

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  1. Big Maan

    Big Maan Active Member

    Joined:
    28th Mar, 2017
    Posts:
    40
    Location:
    Sydney
    Hi All

    I own a 4x2x2 ex Defence house in Douglas, Townsville. Bought in 2007 for $400 K and valued now at $380K.... Owned for 10 years, always hoping to get my money back or even make money. Currently tenanted and in good condition. Been tossing up some time to sell it at a loss but cant bring myself to do it.

    Talk of Adani Mine, Stadium, rebuild, possibility of nickel plant re opening and expansion of the nearby university keep me interested. Shame though, quality home, nice location but zero growth since I bought it.

    The latest data suggests a small 0.25% increase for quarter which is the first positive for some time.

    Do I ride it for another few years or jump now and cop the loss..... I have other properties in South Australia , Qld , NSW that are going moderately well.
     
  2. PandS

    PandS Well-Known Member

    Joined:
    14th Feb, 2017
    Posts:
    1,165
    Location:
    NSW
    this is the only decision only you can make when to hold and fold because it can go either way
    but if its cash flow positive I would keep it as buying and selling another one will cost you
    5%

    I dont think Clive nickel will come back, he all talk very little substances and Adani mine it a PR nightmare most banks won't fund
     
  3. Big Maan

    Big Maan Active Member

    Joined:
    28th Mar, 2017
    Posts:
    40
    Location:
    Sydney
    Hi Pands

    No negative cash flow, negative growth. Good tenants, nice home, nice location. I estimate I would be left with a loss of $40K ....
     
  4. myusernam

    myusernam Well-Known Member

    Joined:
    31st Aug, 2016
    Posts:
    54
    Location:
    townsville
    P and I or interest only? P and I who cares you'll own it soon. You'd be getting low 400's rent?