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	<title>Money magazine Comments - Ask Paul: No-one wants to buy our mining town investment properties</title>
	<description>Jamie's townhouses in the rural Queensland mining town of Dalby have been on the market for two years with no offers. How can he get out of the hole?</description>
	<link>https://www.moneymag.com.au/feed/latest?story=141581398</link>
	<lastBuildDate>Wed, 07 Aug 2019 17:10:11 +1000</lastBuildDate>
	<pubDate>Wed, 07 Aug 2019 17:10:11 +1000</pubDate>
	<language>en-AU</language>
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		<title>Money magazine Comments - Ask Paul: No-one wants to buy our mining town investment properties</title>
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		<title>Comment by Robert  ()</title>
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<p><p>Their price has obviously not met the expectations of the buyers.</p>
<p>If they put them on the market for $1000 each they would sell.</p>
<p>So the market price is somewhere between $1000 and their asking price!</p></p><p><a href="">Reply to article</a></p><p>For original story, <a href="">Click Here.</a></p>
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		<dc:creator>Robert  ()</dc:creator>
		<pubDate>Wed, 07 Aug 2019 17:10:11 +1000</pubDate>
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		<title>Comment by anon  ()</title>
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<p><p>It is not the GFC or Mining Down turn that caused this issue.<br>
The mines were going through a construction phase, so when the construction components of the projects were finaliased contractors no longer required this portion of the transient workforce who then moved on. In this time of increased housing need there were a portion of the community who thought they could capitalise upon the increased demand for accommodation and concluded that they knew better than their superannuation funds, so cashed out their funds and sunk it into a market that was never going to maintain its returns or appeal. Moranbah is a prime example, people where renting out old Fibre Queenslanders for $3,600 per week and the properties where selling for upwards of $700,000. The stores in the towns had greatly inflated priced for consumer good. There came a point where the big mining companies moved to a completely Fly in Fly out model of employment ex Brisbane, Yes, fly their entire workforce from Brisbane was cheaper than using the exorbitant local realestate rentals. Again when those SMSF 'Investors' that grossly overcommitted to buying out the market now had to consider only getting fair market value they cried poor......</p></p><p><a href="">Reply to article</a></p><p>For original story, <a href="">Click Here.</a></p>
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		<dc:creator>anon  ()</dc:creator>
		<pubDate>Wed, 07 Aug 2019 20:56:25 +1000</pubDate>
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		<title>Comment by Marc  ()</title>
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<p><p>It's simple.....<br>
You either drop your price enough to tempt a speculative buyer as Robert suggests or hang on to them whilst sucking up the ongoing losses in the hope of an upturn in the market, which could take many years.</p>
<p>It all boils down to how much you need the money in the end.<br>
It's painful selling at a loss but at least you can move on and right it off against any future capital gains.</p></p><p><a href="">Reply to article</a></p><p>For original story, <a href="">Click Here.</a></p>
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		<dc:creator>Marc  ()</dc:creator>
		<pubDate>Wed, 07 Aug 2019 21:52:52 +1000</pubDate>
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		<title>Comment by Mee Lin  ()</title>
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<p><p>Why put all eggs in one basket? If you can afford to buy 3 townhouses, you should buy somewhere more stable for income and not greedy to think of getting rich quick. As Paul says, you are lucky to have tenants in all 3 of them. Just bite the bullets and sell it at a lost. If the market price is $250,000.0 each, sell it for $230,000.0<br>
This is a big lesson for all of us. Property investment always have to prepare for at least 10 years time flame. If you do not have enough cash float, just buy only one where you can afford.</p></p><p><a href="">Reply to article</a></p><p>For original story, <a href="">Click Here.</a></p>
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		<dc:creator>Mee Lin  ()</dc:creator>
		<pubDate>Fri, 09 Aug 2019 12:20:41 +1000</pubDate>
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		<title>Comment by Bella B  ()</title>
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<p><p>I lived and worked in Dalby awhile ago and am surprised that you received approval for townhouses in an area mainly set for families and rural industry - which usually requires long term residents. Perhaps advertising to a younger, more transient market (like young couples starting out together) might help or just try to make it so darn extremely worthwhile for your tenants to stay as long as possible in your properties and not want to move and buy their own home.</p></p><p><a href="">Reply to article</a></p><p>For original story, <a href="">Click Here.</a></p>
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		<dc:creator>Bella B  ()</dc:creator>
		<pubDate>Mon, 12 Aug 2019 17:26:24 +1000</pubDate>
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