NSW Regional Towns in NSW for studio apartments

Discussion in 'Where to Buy' started by gach2, 30th Aug, 2015.

Join Australia's most dynamic and respected property investment community
Page 2 of 2
  1. gach2

    gach2 Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    1,922
    Location:
    sydney
    Port maquarie isnt really an option im interested - way too high costs

    Grafton with the gaol opening is very interesting (theres a site across the road which is for sale and may be a good option - gaol employees, visitors, contractors + being near the hospital too (nurses people visiting patients)
     
    gach2, 18th Sep, 2015
    #21
  2. gach2

    gach2 Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    1,922
    Location:
    sydney
    Kempsey - i know the demographics but if a pm can handle it, its not my problem lol
     
    gach2, 18th Sep, 2015
    #22
  3. BuyersAgent

    BuyersAgent Well-Known Member Business Member

    Joined:
    20th Jun, 2015
    Posts:
    1,401
    Location:
    Oz
    Ah yes well keep hunting I am sure you will find your sweet spot. Many towns have a huge need for boarding house accom but unfortunately primary tenants can be single males after relationship breakdowns or following release from incarceration, this is actually a valuable community service but only a few folk would be willing to take it on as an endeavour as it is really a more high service accommodation business rather than passive rental property. I have friends in Sydney who did incredibly well providing this kind of accom in Redfern and other inner Sydney suburbs but as I said its not easy to set up and maintain healthy culture.
     
    BuyersAgent, 22nd Sep, 2015
    #23
  4. gach2

    gach2 Well-Known Member

    Joined:
    29th Jun, 2015
    Posts:
    1,922
    Location:
    sydney
    That's the typical boarding house set up though im looking too keep it quiet independent for the experiment. Most likely 4 detatched units on a corner block (cheap $$$) and have it managed by a REA. I can't see it being too profitable but should still have a decent cash flow
     
    gach2, 23rd Sep, 2015
    #24
  5. Lisa Parker

    Lisa Parker Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    380
    Location:
    Melbourne

    I have friends who have the same clientele for their boarding homes. It is not for the faint hearted. I personally would feel afraid to go into the properties and wouldn't feel comfortable sending a cleaner in for the weekly clean.

    It is an in demand market though. They have expanded their housing stock to accomodate the demand.
     
    Lisa Parker, 1st Nov, 2015
    #25
  6. Mr RD

    Mr RD Member

    Joined:
    9th Dec, 2015
    Posts:
    23
    Location:
    Orange
    I don't know if you have made a move, i have seen some good developments in central west NSW. There is demand but it is not well serviced. In box me if you want specific details. There have been a couple of variations on the group accommodation model as well that have been popular as serviced/furnished apartments and reportedly trading their head off.
     
    Mr RD, 11th Dec, 2015
    #26
Page 2 of 2
Developer Tax Services

Price Accounting provide tax services and advice to developers on issues incl GST, Tax + Structure. Our free developer toolkit covers many of the key elements and is critical to a new development tax plan. Email for your copy and our new client pack.