NSW Dual Occ in Tamworth West

Discussion in 'Where to Buy' started by Fahad Hasan, 16th Jan, 2022.

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  1. Fahad Hasan

    Fahad Hasan Member

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    I have come across an opportunity to buy a new dual occ in West Tamworth for $500K with projected rental of $600/mo. As a first IP, I wanted it to be cashflow positive and this looks like a great opportunity.

    Is there anything I should consider? I am a bit reluctant as I have never been to Tamworth but heard good things about it. Does this seem like a good starting point?
     
    Fahad Hasan, 16th Jan, 2022
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  2. thunderstrike888

    thunderstrike888 Well-Known Member

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    $600 per month or per week?
     
    thunderstrike888, 16th Jan, 2022
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  3. Fahad Hasan

    Fahad Hasan Member

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    Haha sorry $600/week. Updated.
     
    Fahad Hasan, 16th Jan, 2022
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  4. KBHV

    KBHV Active Member

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    I lived in Tamworth for 18 years. It’s a nice place but I would be wary of where the property is located in West Tamworth. There are some places in West Tamworth that are very good and some that are not good - close to housing commission and high crime rates. It’s a very mixed suburb. For a rough guide, anything west of the train line could be a risk for dodgy tenants and/or crime riddled area.
     
    KBHV, 16th Jan, 2022
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  5. Fahad Hasan

    Fahad Hasan Member

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    I believe its on Green Street. Is that bad?
     
    Fahad Hasan, 16th Jan, 2022
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  6. KBHV

    KBHV Active Member

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    Unfortunately that is in a bad section. Kenny drive which is what this street back on to is the worst, and Green street not much better. Much of that street would be housing commission and the police are often called to this area. There is crime, random fires, robberies etc. Sorry I couldn’t give you more positive news.

    On the plus side my family tell me it is near impossible to get a decent rental in Tamworth so perhaps looking in another Tamworth area. East Tamworth is good but the most expensive. South Tamworth is good, as is Calala, Hillvue, North Tamworth (although I’m not as familiar with North Tamworth). And like I mentioned, west Tamworth is good but on the East side of the railway line.
     
    KBHV, 16th Jan, 2022
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  7. KBHV

    KBHV Active Member

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    KBHV, 16th Jan, 2022
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