Threads on regional investment

Just popped in to see what's new and I'm heartened to see lots of threads on regional investment in the 'Where to Buy' section. Finally. Please, ripple, keep going and get stronger. Feels like this cycle has taken f.o.r.e.v.e.r.

 

What regional areas are you looking at the moment?

 

As it's Luce, I'd put money on Orange.

It's no secret I'm focusing on Wellington, but I'm keeping an eye on Dubbo and Albury.

 

Wellington is like 8% in yield. Are you also looking to buy house with big land component for development later?

 

Not looking to buy, just hoping to see some CG in a place I have in Orange.

 

I had my eyes on Dubbo and Orange and nearly bought in Orange but found my IP in Qld.
Just curious on people's opinion on Cowra??

 

Id ne very careful of wellington

Good yields but crappy tenant likelihood plus volatile market

 

You have to be super picky about a tenant, absolutely, and it helps not buying in the two major slummy parts of town.

What do you mean 'volatlie market'?

 

Easily, I'm picking up a couple that are 10%+.

Personally, no, not at this point, but I won't rule it out in future.

There was an interesting block on Warne St which I missed out on that was ~ 1300sqm, long skinny block, house at one end, probably only 12m wide, with rear lane access to Nancarrow Lane. Possibility of putting a 2 bedroom granny flat on the back of it with shared driveway for a second income.

 

Nice. It would help the cash flow. Do you have a great PM protecting your interests? Bought them site unseen? Is your portfolio mainly regionals?

 

I have an awesome PM team, who is really picky on which tenants are accepted. PM me for details. I've only bought one sight unseen, but did have my PM check it out and send lots of photos. Portfolio is slowly becoming predominantly regionals.

 

Hi Everyone I'm a newby and looking to purchase my first investment property, at the moment I'm interested with Orange in particular on Cecil Road because I can get a house near the reserve park, schools and relative close distance to amenities. 30% of the population also renter it's a drawcard too. would you mind to share your inputs or maybe experience with Orange/Regional market...Thanks Heaps

 

What sort of yields do you get in orange ?

I've never been there , but I'm not sure I've heard a bad word about the place from anyone who has .

Cliff

 

Isn't Orange reliant on few industries, agriculture and mining? It's not that diverse is it? I've never been to Orange but would like do that one day.

 

According to 15 Algona Crescent Orange NSW 2800 - House for Sale #121004314 - realestate.com.au that is asking for $149K, anticipated rent is $230-250pw.

 

Not a good area there

 

I own a brick place nearby, that street is ex HC which have been sold off, mostly about 4-5 years ago. I get $230 pw which is market rent with a 8%+ yield. Vacancy rate is a little high in Orange presently for my liking to buy again there to be honest.

 

Thanks @HUGH72 @larrylarry @Ardi @See Change for your inputs on Orange. According to Domain 79 Cecil Road, Orange NSW 2800 - House For Sale - 2012358058
3 bedroom house is selling for $289k, another 2 bedroom property on the same road asking for $390/week 63 Cecil Road, Orange NSW 2800 - House for Rent - 9117288
so gross yield around 7% plus. @HUGH72 is there any reason for high vacancy rate? mining slowing down? or more house and land package? Thanks

 

I sold a number of new 3 bed townhouses and houses in Orange. All sub 400K. All NRAS approved. They generate @ 8-10K CF+ to the owners per annum.

 

Euro

Any links ?

Cliff