NSW Investing in Moree?

I'm doing my research on country towns and it seems that Moree hasn't experienced much growth.
The yields are pretty high - the days on market are looooong averaging over 400.

I have read a bit about what inland rail should be able to bring to Moree.

Does anyone have thoughts on this town?

I'd love to hear if you'd stay away or consider it and why?

I know some of you wont touch country towns - I don't want this to be a debate on whether to invest in the country - I'm more keen to hear an answer starting with "As far as country towns go...."]

Cheers!

(Note: There is probably a thread on this but when I try to search it brings up every post with the word "more" in it)

 

Linky
Linker
Lanker

 

I think most of the problems have been covered in those links.

Have a look at Inverell for yield without all the problems of Moree.

Willy

 

What price range are you looking in?

 

The N Birch cycle begins

 

Yeah, I'm happy to find properties in Moree for 10k per find

 

After deducting $3k for the body guard, you're still well ahead.

 

@skater ....skatoo...want to comment here?

 

It would cost about that in rates-insurance -plus what the other problems surface per year ,but for 10k wiwo lot better then buying a racehorse..imho..

 

Sheesh, not really! You just summoned me out of a nice holiday, ya know.

OK, Moree......well, I've been in Moree for about 15 years. I've had good experiences and bad experiences. I originally had 2 houses & a block of 4 units. Sold the first house after only a short time. It was in a dodgy area & while we had no issues with tenants, every time it was vacant, the neighbours broke in. Long story, but we sold out, making a small capital gain.

The block of units we sold last year, nearly doubling our money. We had a bad run a few years in, due to the Agent. After giving them the flick, they were rented consistantly with no days vacant at all. They had a remarkably good yield the entire time, and maintenance was minimal.

We still have one house there. It's on the market at the moment. It's had good yield the whole time, but we've had bad issues with the agent that has cost us a lot. That's not the reason it's being sold though, as we've retired & moving our assets around at the moment.

What you need to know about Moree, is that you NEED a good agent, and most of them in town are woeful, and that's being nice. We're currently with a new agent, not been going for long & so far they seem to be on the ball. It's early days, but so far, they've been the best, and we've tried them all, so far.

 

OK ...ya have done yo bit...back in the bottle now .....

 

I got property in moree since 2013 and so far it's has done the best in terms of cash flow and low maintenance across my portfolio.

Ironically my qld ones gives me the most headache.......