NSW Orange Sat 14th

Give me the deets!

 

Approx 50 acre, owner was asking 70k, decided to drop it in half, went quick.

 

What???????? Was this advertised?

 

He cut price of 70k in half, it went out the door real quick !

 

Will be in Orange Sun 22 and Monday 23 it seems, if anyone is up send me a PM if you want to meet up with us for a chat and coffee

 

@dabbler any more trips to Orange coming up?

 

I think I will be there early next week for a few days

 

Should be in town most of next week. Will PM and see if you are able to catch up for a chat at some stage.

 

Hopefully this has been sorted after we chatted

 

Yes it was. You might want to elaborate here. To explain to others reading....

 

You are allowed to have 13 weeks ( 91 days) of vacancy and still receive the FULL NRAS credit

 

Do you like old steam locos ?

Orange Steam Shuttles - Canberra Railway Museum

I also got kinda excited, thinking Orange was really moving up when I saw a huge new Bunnings in North Orange......so 2 Bunnings in one town !!!

Spoiler

But the older smaller one is closing.....oh...

 

All I can tell you is that we have been seeing strong valuer support at 380 - 400K for 145M2 3 bed, 2 bath townhouses on 250 - 300 M2 of land. That includes Cat 2 and 3 risk ratings, meaning the valuers are extremely comfy at those prices. 18 months ago we were seeing 365K for 3 bed duplexes . So while it's not a huge adjustment upwards, it's a nice 8-10% in 18 months, which is an indicator that Orange is doing just fine. Coupled with the 11K of NRAS tax free cash flow for the next decade and the depreciation from the new dwellings... My clients are going to be seeing 8-9K CF+ tax free surpluses, when borrowing at 4.3 - 4.5% I/O . Reinvested onto their PPOR non deductible P & I mortgages, they will see a 14-15 year reduction in the term of their 30 year mortgage off the back of that one investment decision, plus the growth that will come over 10+ years as they hold the asset at no cost. If P&I rates fall further, they will do even better. It's pretty good going on @ 60K of equity deployed for 12% deposit , stamp duty and closing costs . The cash flow alone represents @ 15% ROE, even before it is reinvested onto the P&I debt.

 

We need to take half this thread and move to where to buy, or maybe I will start one at some stage, but it is not doing anything much at the moment IMO, I have seen most things go backwards, except for new builds, which always get dearer. I do think things are wound up and it will take off again at some point, maybe later this year, or 17.

I love buyers markets, and if you get to know an area well and the agents, you know what good value is in each of the sub markets.

I will admit I am clueless on units or things like town houses, simply due to the market wanting 3&4 bed with decent yard, I can see how there would be demand for good low maintenance places in decent locations too as there is quite an aged population and people coming off the land.

For those with more money, the federation type places in walking distance or as close as possible to the CBD is what you will do well out of when things are stronger again I would think.

So Euro, you going to travel up next week ? Thurs-Sat, will post another meet up for anyone interested.

 

Im not headed up there again until mid-late July, when I have another 11 townhouses to settle.

 

I will be up and down for next few months I think, depends on what else come up as well.

Here is the one for this coming week.

NSW - Orange 16/17/18 June