Forum Replies Created
What a valuable contribution Gambini…
I appreciate your comments Westan and think you indeed add a great deal of value to this furum (I.e I don’t think your a wombat). I will however put it to you that with the right strategies one can make profits from owning property basically anywhere in the world. You are an expert in your chosen market (NZ) and would obviously create better profits than someone with less knowledge. If you go into a market make sure you are an expert in it then I’m pretty sure you will make money over the long term.
Read the September API magazine pg 93
Westan,
Your figures are clearly dated, you have not visited the area and appear not to understand the 11 second solution (Perhaps the fundamental principle promoted on this forum). Try your sums again pal.
PS- I’m not promoting this area, just relaying my experiences and up to date information. I encourage everyone to perform due diligence, however make sure you know how to actually complete the process.I agree with you DD. I have never said this area will turn you into a millionaire over night. However each week these properties will indeed put money in your pocket. As far as tenants go, that is a major bonus of this town. Indeed many miners actually rent houses in Rosebery and own coastal retreats elsewhere. You have tenants who are cashed up and require little maintenance as they are seldom above ground.
Don’t listen to the mindless sceptics.Great use of dated data.
Ps- not to sound rude, but you still haven’t offered any alternative areas. I never once told people to leap in with out performing proper due diligence, however if you are going to go to the trouble of researching an area wouldn’t it be prudent to:
(a) Actually visit the area
(b) Rely on accurate, up-to-date figures to come to your own conclusionsAttack as you wish, for it has no effect on me at all, however we STILL eagerly await your alternatives.
I look forward in anticipation to “Critically Exploring” your chosen positive cashflow areas.Gee thanks matey
I have enough and have already secured what I want. I don’t think its charity really as people on this forum still have to negotiate their deals and complete the whole process. Most people would not go near Tasmania, however it does provide some diversification.
As I have said in other previous posts, yes I have indeed owned properties in Rosebery over the years, however I sold out of the market 6 months ago. In light of the information I have received re: The mine and rental growth I am looking to get back in. I have contacted my old agent contacts and am looking to pick up a few. I won’t be able to take all of them hence thought I’d share it with the forum. Noone is under any obligation or anything, just think its worth a look. Properties in this region Do satisfy the 11 second solution.
Good point.
I own property in Tasmania, however sold out of Rosebery about 6 months ago. I’m looking to get back in due to this new information that has come my way. Going for additional finance approval.Chatting on this forum to you.
Spring is traditionally a period of increased activity in the property market. More properties should come on the market over the next couple of months, hence if you research etc you should find a few that interest you. I suggest picking a couple of areas and farming them.
How about an alternative Richmond? Obviously you lack experience in this region, hence suggest you get your hand off it pal.
None for sale, doubt there are any left guys. As for you Richmond, hardly worth my time, isn’t the point of this Forum to assist others in their investing pursuits? Wouldn’t isolating one of the few remaining regions to purchase Positively geared property be of some help/use? Do you have any better options?
Easy to criticise, however I don’t see you giving any spots out?
One can pick up 4 houses for around $200,000. Rental works out at around $100 pw per property, therefore $400 per week all up. These investments are positive
A little tip, be very careful in your estimations of costs, they can blow out big time. Are you in Sydney? I have good builders in Sydney and Darwin if you want their details
Great idea, get yourself one of those little consumers
Thanks. I’m going to proceed with great caution and am planning to visit the region in early Jan 2005.
abs is well worth subscribing to.
I think you’d be better to renovate, keep them on the sames title then flick the whole block when you wanted to. I doubt you’d make to much if you sold the units individually (A block of units for 300,000 doesn’t appear to be in one of the nation’s better regions for capital growth.
Personally, I’d touch them up a bit, raise the rents, and use the cashflow to finance another deal (perhaps a growth asset).
