NSW Oberon

Hi all,

Recently my partner and I took a weekend trip to Oberon to look at property and we have a few questions for anyone with properties there or people who have looked at investment properties there in the past.

We believe with all the growth expected with Bathurst and Lithgow that Oberon is in a great position to capitalize on this in the next 10 years.

It has strong rental yields and the cost of entry is lower than bathurst.

Just thought I'd throw it out there to see what others think.

We found this property
97 North Street, Oberon, NSW 2787

Which I believe is at the bottom end however with some work put into it, it would have value as it is a stone throw from the school and medical centre as well as the main town.

Would need some value to be added however has a decent land size.

Warm regards
Luke

 

Drive further - Orange or Bathurst are better bets

Even Lithgow has very little to offer

 

What does it have going for it apart from a cheap price?

What employment opportunities are there in Oberon?
Marg

 

It's a backwater with only 3000 people. That in itself spells risk to me.

 

This is a fair point.

Perhaps I am scraping a little to low at the bottom of the barrel

 

I dont mind your strategy of targeting lower end but i have seen a couple of the houses you have asked about and i think you need to educate yourself a bit on the construction side of things
If you want to buy a forever cashflow.investment then the house needs to be up to the task.
This house might well be but its also potentially built from asbestos sheeting which is something that i would avoid unless buying for land value growth

 

Noted, probably a good thing to begin looking into. Thanks for that info.

 

If cashflow is what you're after and you don't have that much cash to play with (hence why you're looking at ultra cheapies), just buy shares. Honestly.

Use leverage for quality assets - as much as you can afford and if the numbers make sense.

 

I think after some discussion it may be best to save the extra year and make a play at using a FHOG to get something with better capital gains.

 

Don’t buy away from capitals or major Regionals. Waste of time and money.

 

Yeap, I think we will adopt a strategy of using a fhog, moving in to avoid stamp duty for the first year, and saving for something in the 400k and below range.

We were thinking maybe ballarat as its easier access for us to get work ( we are both youth workers).

 

Unless aiming at the retired or Centrelink demographic, you want your tenant to be employed.
Therefore always look at the employment opportunities when researching a location.
Marg