TASMANIA – Anybody investing??

Hi All,

I have dabbled in Tasmania this year having bought 4 properties in as many months – the last one was last week. I bought them site unseen.

I have now seen the first one I bought as I made a trip to The Apple Isle at settlement…to do a bit more hands-on research.

Prior to buying the first property, I researched and researched and researched for about 4 months -via the internet and phone calls. One of my Melbourne aquaintances – a real estate agent was the person that pointed me in the Tas. direction. In this 4 month period I saw properties jump in price, I made offers and withdrew out of shear nervousness and in the end I dived in.

All properties I have purchased are positively geared, rates taken into consideration, are tenanted with great tenants that, so far, pay on time – much better than my Footscray property (with respect to cashflow and quality tenant).

One property in particular has been a beauty. I purchased a house, 2 blocks from the waterfont, in the CBD, converted into 4 units, with a total rent of $360 per week – for – $137K. – I’m excited!

Stay away from the housing commission – unless the area has been converted from housing commission to privately owned – eg., parts of Claremont near Hobart.

Happy researching and investing.
V.