4744Moranbah
Reviews
"Investors Are Detroying Moranbah"
Moranbah is a wonderful place for not only singles but families. The schools are fantastic and the options are great for a remote location. Our only problem is that investors and owners of properties in Moranbah see the mighty dollar sign and have increased rents so high that the average family have been pushed out of the market. Some of the rental properties could be referred to as dog boxes with owners refusing to maintain general wear and tear. I would applaud any new investor that looks outside the box and offers rental properties for an affordable amount. Remember not everyone in town is a miiner!
Not great for
- Activities for teens
- Activities outside of sport
Yes investing in a mining town has its risks, though I'm sure that you have done your due diligences on Moranbah. do invest in Moranbah , though you will be hard pressedto find a
block of land to build your 700k house on -there is no land for sale! I can only speak for myself by enlighting u to the problem tenants are facing , rent hikes going from 1k per wk(for a crappy 3 bed mould ridden dump, that seldom has maintance issues attended to (tradies are hard to come by)) to 2.5k when lease is up for reneweal...
the town is becoming 1 big mac camp with , with workers now having to share their bedrooms with workmates on opposing shifts.
There are plenty of great Landlords in Moranbah , they're the ones that don't increase
the rent by 50+%.
The problem for landlords who offer long leases at low rents is that if they decide to sell they can't because the return is not there for the potential buyer. Moranbah is a high risk investment so if you don't keep up with the rents created by demand you lose both ways. I am in exactly that situation right now. I've always attended to any maintenance issues straight away and I appreciate my tenant, but I'm not a charity. The fact is prices are always dictated by supply and demand no matter what the product. It isn't just a question of greed. Will anyone feel sorry for me when the market drops and I haven't got the high rent or the right to sell?
I'm looking to build an Investment property in Moranbah. But I might pass on as I don't want to be judged as greedy investor. Can I build a house for $700.000 and rent it for $400 p/w. No I can not. Why? Because it would cost me about $35.000 per year out of my pocket to sustain the interest rates. But maybe I folk $35.000 per year hoping that the house appreciate 10% or so, in value every year for the next 5 years or so. In this case I, the investor should make about $30.000 after interest rates paid. What if mines are closed down or global unpredicted changes arrive in the future? Who would buy back the house for $700000 from me? What if the house value would not appreciate in it's value? Who thinks I can donate $30.000 a year to somebody who will be renting the house from me? and then sell it after 5 years for devaluated value of $300.000 or so? Buying house in Moranbah can be a huge risk. Who can say here, honestly that investment risk should not be paid with a higher potential dividends? The question remains; should I invest in your city and provide more accommodation for you people? Would you call me GREEDY INVESTOR?