NSW Broken Hill - Low debt, very high yield

Discussion in 'Where to Buy' started by Booming Sunnyvale, 20th May, 2017.

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  1. Willy

    Willy Well-Known Member

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    With all due respect, I think you need to get out more.

    Broken Hill is a thriving metropolis compared to 99% of towns in western NSW, Western QLD and the NT.

    Willy
     
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  2. skater

    skater Well-Known Member

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    I have a block of units in Broken Hill. Have had them for a while now. They are rarely vacant and rent easily. Made out of Besser Block, so they are pretty hardy, and no tenant issues so far.
     
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  3. Angel

    Angel Well-Known Member

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    We had a look around BH two years ago when we went to SA, looking through the eyes of an investor rather than a tourist or grey traveller. The town was far better than I had imagined from all the "talk" from the coast.

    It is the kind of place I would consider if I had the spare cash, but my biggest negative with ANY small town (after our experience at Gladstone which is a huge city), is the hassles and costs when you need to deal with storm damage or maintenance.
     
  4. skater

    skater Well-Known Member

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    We have had issues with other small regionals, but not at Broken Hill. We had the roof replaced under insurance a few years ago, due to storm damage. This did take a little while to be done, but it was watertight, so didn't impact on us at all. We have not had any other issues.
     
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  5. Hayes

    Hayes Well-Known Member

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    My concerns at the moment are with the dropping population. Wouldn't this impact on vacancy.

    I mean I feel unless attempting to flip a property there is very little prospect here to make decent money.

    Outside of a low entry cost and good yields Im not sure what else BH has to offer.
     
  6. Luke T

    Luke T Well-Known Member

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    I personally think the population will stabilise but its probably never going to be higher-unless they discover more silver ! Its not going to make you massive money in growth if your not adding value yrself but its a good way to learn the ropes and not lose doing it ,while getting a good return at the same time.
    It takes a while to get the experience in property investing anyway before you make the best decisions so don't wait for the perfect investment before stepping out .
     
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  7. Hayes

    Hayes Well-Known Member

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    Will be making an offer on a place soon.

    Let's hope it all goes to plan.
     
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  8. kierank

    kierank Well-Known Member

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    Where is Broken Hill?
     
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  9. strongy1986

    strongy1986 Well-Known Member

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    Where is Brisbane?

    I hope you are being faecesious
     
  10. strongy1986

    strongy1986 Well-Known Member

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  11. kierank

    kierank Well-Known Member

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    Nope, I was being facetious :D.

    I have stayed in Broken Hill a few times, once for a wedding.

    Any town with broken in its name just doesn’t inspire me ;).
     
  12. Hayes

    Hayes Well-Known Member

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    Different strokes I guess ❤
     
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  13. Luke T

    Luke T Well-Known Member

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    Wow - good on you for stepping out and doing Yr research . As discussed -If you look into that one for $70k the possibility of making 4th bedroom - and paint ,light reno -you might get Yr $300 per week goal ??
    I know there is a pub right near there too so just make sure you get on the ground and check the position out before buying
     
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  14. Hayes

    Hayes Well-Known Member

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    Thanks Luke,

    Have been doing my DD and think there are a few options currently. Just really boils down to offers being accepted at the right price point.

    Super exciting though haha
     
  15. Hayes

    Hayes Well-Known Member

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    @Luke T , @strongy1986

    Either of you gents familiar with Chappel street? Its on the north point of town near the aquatice centre and high school?
     
  16. strongy1986

    strongy1986 Well-Known Member

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    yeh that north east area is fine

    best part of town is around the hospital

    aroind the main street is is also good for rentals
     
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  17. Hayes

    Hayes Well-Known Member

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    Awesome, putting an offer in for a 3 bedroom there. Have had a few offers declined on other properties, seems vendors at the moment are unwilling to accept below asking price at the moment. A lot of Owner Occupiers selling the properties I have been interested in.
     
  18. Hayes

    Hayes Well-Known Member

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    Offer has been accepted! And it begins
     
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  19. Luke T

    Luke T Well-Known Member

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    Wow - how exciting!! Well done Hayes !
     
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  20. kierank

    kierank Well-Known Member

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    Lucky vendor ;).
     
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