hi, i’m new to forum. i have a bunch of tassie houses, mostly around 30 k’s out of a major city (which is a long way in tas!). they range between 50-over 100 years old! we are thinking about selling (some of) them as we are concerned re the potential for structural problems arising and also the fundamentals are not fantastic (ie. in area of welfare recipients and not close enough to major town). however, they have a gross yield around 13-15%, with a riciculous coC return, and the market has really shot up in the last 6 mths with the ripple effect from the major aussie cities. wondering what to do?
any opinions appreciated. wrxboy.[?]
Hmmmm
Depends on your situation i guess… do u actually need the money? with returns like that i would hold em..
Perhaps if u needed money you could use the better ones as security and lend on them?
Perhaps the market in tas is still on the rise?? think long and hard, caus once its sold no use regretting da decision… (as i did with a place i sold)
Jason
woops, i noticed your %income is gross, and not net as stated…
perhaps they r costing u toooo much to maintain? if the net was over 9-10% i would still hold…
Jason
Hi wrxboy, If your not having any problems now and the CoC is ridiculous then hang on to the ones you think are best and maybe sell some others, do some reno’s and fix the potential structural problems. Also welfare recipients need housing also and if their not causing you any problems and the rent is being paid no problem there. Your post reads a little bit like your either looking for buyers or asking about wrapping.
C2
“Is it true the more you owe the more you grow until the bank steps in?”hi wrzboy
you need to decide what your overall startegy is, mine is buy and hold. but with the recent rises i’m actually selling some, but i’m reinvesting in property that is showing an even better return. it’s hard to resist playing it a bit safer by reducing debt (i’m doing this).
westanc’mon westan, ya gonna sell me an IP?? rental return doesn;t bother me too much really- as long as the tenants are kind of content.
If you’d like to discuss, please email me on: [email protected]
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]kay henry
30k out of major cities is a long way. Tas has gone so far in the last 18 months – we have 3 places that have more than doubled in value but they are in major cities.
If they are deadbeat towns (depends which major city they are near I guess) I’d start spreading my risk a bit. I wouldn’t like to be holding in somewhere like Baghdad or Campbelltown or Railton in the future. Take a little cream and keep a few.
I wouldn’t like to be holding in somewhere like Baghdad or Campbelltown or Railton in the future. Take a little cream and keep a few.Polar Bear…
Do u think Campbelltown will not be a good investment to hold? what do u base this on? just curious as i hav property a few suburbs from Campbelltown is all…
Jason
wrxboy, if your major concern is thet potential structural problems, the first thing that I would do would be to get a good building inspector to have a look and advise as to future issues. Then take it from there.
Cheers
MelHi Jason – hope we are talking about the same Campbelltown (Midlands hwy Tasmania – near Ross). It has a really low and ageing population, the hospital has closed, there are no real industries nearby, one of two service stations has closed down.
It has never been a huge place (my father is from there) but it is too far from the 4 major cities Hobart/Launceston/Devonport/Burnie for a commuter, and there just doesn’t seem to be any good news for it. It isn’t even all that pretty to look at – Ross is a nicer looking town but even smaller and with less industry.
My personal opinion from living near there for the first 25 years of my life.
hi, i’m new to forum. i have a bunch of tassie houses, mostly around 30 k’s out of a major city (which is a long way in tas!). they range between 50-over 100 years old! we are thinking about selling (some of) them as we are concerned re the potential for structural problems arising and also the fundamentals are not fantastic (ie. in area of welfare recipients and not close enough to major town). however, they have a gross yield around 13-15%, with a riciculous coC return, and the market has really shot up in the last 6 mths with the ripple effect from the major aussie cities. wondering what to do?any opinions appreciated. wrxboy.[?]
hi, i’m new to forum. i have a bunch of tassie houses, mostly around 30 k’s out of a major city (which is a long way in tas!). they range between 50-over 100 years old! we are thinking about selling (some of) them as we are concerned re the potential for structural problems arising and also the fundamentals are not fantastic (ie. in area of welfare recipients and not close enough to major town). however, they have a gross yield around 13-15%, with a riciculous coC return, and the market has really shot up in the last 6 mths with the ripple effect from the major aussie cities. wondering what to do?any opinions appreciated. wrxboy.[?]
hi, i’m new to forum. i have a bunch of tassie houses, mostly around 30 k’s out of a major city (which is a long way in tas!). they range between 50-over 100 years old! we are thinking about selling (some of) them as we are concerned re the potential for structural problems arising and also the fundamentals are not fantastic (ie. in area of welfare recipients and not close enough to major town). however, they have a gross yield around 13-15%, with a riciculous coC return, and the market has really shot up in the last 6 mths with the ripple effect from the major aussie cities. wondering what to do?any opinions appreciated. wrxboy.[?]
hi, i’m new to forum. i have a bunch of tassie houses, mostly around 30 k’s out of a major city (which is a long way in tas!). they range between 50-over 100 years old! we are thinking about selling (some of) them as we are concerned re the potential for structural problems arising and also the fundamentals are not fantastic (ie. in area of welfare recipients and not close enough to major town). however, they have a gross yield around 13-15%, with a riciculous coC return, and the market has really shot up in the last 6 mths with the ripple effect from the major aussie cities. wondering what to do?any opinions appreciated. wrxboy.[?]
hi, i’m new to forum. i have a bunch of tassie houses, mostly around 30 k’s out of a major city (which is a long way in tas!). they range between 50-over 100 years old! we are thinking about selling (some of) them as we are concerned re the potential for structural problems arising and also the fundamentals are not fantastic (ie. in area of welfare recipients and not close enough to major town). however, they have a gross yield around 13-15%, with a riciculous coC return, and the market has really shot up in the last 6 mths with the ripple effect from the major aussie cities. wondering what to do?any opinions appreciated. wrxboy.[?]
hi pschluter
i don’t get it why the posts every 30 minutes?[?]
westan
hi, i’m new to forum. i have a bunch of tassie houses, mostly around 30 k’s out of a major city (which is a long way in tas!). they range between 50-over 100 years old! we are thinking about selling (some of) them as we are concerned re the potential for structural problems arising and also the fundamentals are not fantastic (ie. in area of welfare recipients and not close enough to major town). however, they have a gross yield around 13-15%, with a riciculous coC return, and the market has really shot up in the last 6 mths with the ripple effect from the major aussie cities. wondering what to do?any opinions appreciated. wrxboy.[?]
It sounds like your properties are out near Bridgewater or Gagebrook which isn’t a great place but please let me know as I’d be interested in purchasing. I live in NSW but come from Tassie so I know the state well. regards [email protected]
Woops!
Sowy Polar_Bear my mistake
i was talking about a different Campbelltownlol
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