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Hi,
everyone <edited>s their pants the first time. The worst you can lose is 25% and often time corrects all errors. You could lose lots more on the sharemarket.
Research, research is the go. Mining towns are viable provided that they don’t do the boom, bust cycle. Usually this is related to one type of ore produce only such as coal. Moranbah in QLD struggled badly after the last mining collapse but Kalgoorlie didn’t. Good rent returns there on units.
Zeehan and Rosebery in Tassie are taking off but Queenstown just half an hour away has gone backwards by 20% I think this is good. Prices are down av house is 55 to 65k rents are 100 to 120 a week. 3 new mines are starting up in the vicinity and the effect is already happening in Zeehan now. This is willprobably spin off to Rosebery next and Queenstown last.
Definitely worth a look but go down there.
Good luck. First one is the hardest.[cap]to Seanj
my wife and i live in Sydney. We have invested in nth west coast tassie. 1 of our 4 properties was sight unseen as the tennant made it very diff. to get in. We got a bit of a bargain 55k and the rent is 100 per week. That is the good stuff. The bldg report was 10 lines long covering nothing. The woodheater was stufed and a structural wall needs rebuiding and recladding. Thats the risk of sight unseen.
The other risk which few people consider is the neighbors. You can’t tell from a picture if tne nextdoor guy is a pyscho with 2 german shepherds. My advice is do the homework before and godown and see.
regards gtphysio[biggrin]
