Hi there,
Looking to buy in Tasmania, but not too sure if a 6-7% investment is worth the hassle.
Thanks,if your looking to invest interstate i was in Darwin recently and saw that they were getting 10% returns there. Although i didnt do any reserch seems pretty good at a glance, might be something to consider.
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto
Thanks for the update Giulio
It all depends where in tassie. For example a 3 bedroom house in west tas mining towns is a no no. Recently a tin mine was closed for 9 months loosing 260 jobs due to falling tin pricing.
On the other side of the well we have a nice growth happening in Launceston and Georgetown due to the new pulp mill being built there. Stable employment and high building costs in the main towns in tassie are making the old housing commision cheaper houses on good sized blocks very attractive.
With up to $18k/square building costs, the $120-150k houses are really being bought for little more than land value. Then adding the 7% return from existing renters and its stil one of the better options for entry level investments.
I now have 5 having bought 2 more in November last year. Current vals mean I have made 20K equity on each so far.
Your call always but know the market and why it IS the market there at all times. Buy when you are confident enough with the indicators, and not pressured by marketeers.
Good luck and happy hunting.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!
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