Hi everyone,
Firstly, I’ve been reading the posts with interest and admiring everyone’s creativity and the general quality of posts[8D]. Thank you for helping me learn [
]
Whilst reading the latest Divelog, a little post card dropped out, by a lobby group wanting to protect the Queensland’s Great Barrier Reef (GBR) ecosystem from fishing currently only 4.6% of GBR is protected and they are lobbying to increase this to 30-50% protected from fishing (done via rezoning).
My question is, how many people actually look at the environmental issues/concerns when doing research into buying IP’s in certain areas [?] (Left Field – I know!)
The chances of an increase in protected fishing areas are very slim, yet the impact on the fishing industries and coastal villages could be substantial.
I use this as an example only. I’m not trying to scare anyone off from purchasing IP’s.
I would however like to know the extent people go to when doing their research and due diligence when purchasing IP’s interstate [?]Cheers
Sooshie []
5 more sleeps till Fiji!“Giving is a Blessing, receiving is the bonus”
Hi Soosh-myster,
Yep – last night Julie’s dad pulled out a map of the GBR area and highlighted which areas are planned to be included in a new marine park.
He was commenting that his fishing chances should improve when the commercial fishing boats are kept away.
In the papers there was the usual talk aof masive redundancies, together with comments that fresh prawns for dinner will be a thing of the past. [
] (I’ve just come back from a lunch of yummy fresh seafood on the marina [^])
My question is, how many people actually look at the environmental issues/concerns when doing research into buying IP’s in certain areas (Left Field – I know!)Well, up here, the cane and the mines drive industry more than the fishing, and tourism I don’t think will be greatly effected.
My thoughts are that provided there are other industries, life will go on more the majority.
Still, you raise an interesting point for uni-industry towns, such as perhaps Moe and Morwell. If the issue with the sale of Loy Yang are not finalised (ie. sale with the ACCC) , then there may be some issues there.
I would however like to know the extent people go to when doing their research and due diligence when purchasing IP’s interstateAs you know, Dave and I have been in a secret [?]area lately, which has one main industry where half the workforce was on strike.
We were put off by this, until we found out more about the industry and realised that it was an area in transition going forwards rather than backwards.
As far as IP is concerned, I think that looking at rental vacancies is a good judge for the potential risk if industry in the area fails.
If there is a lot of supply of rental properties to begin with, adverse changes may have a more dramatic (ie. compunding) effect as people move away.
As another comment, I’m always concerned when investors as opposed to homebuyers are the ones forcing prices up. That’s the reason why Dave and I have moved away from the La Trobe valley.
Put bluntly, when our favourite IP fishing spot (to use your theme) begins to attract all manor of fishers, then we move on.
Not long until Fiji!!!! Enjoy yourself and don’t get sunburnt on the beach!
Regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hiya Steve,
Full on Mangoes yet[?] [
]
Does Julie’s dad have a boat? I love fishing (except killing the fish when they come into the boat []) I might try some handline fishing in Raki Raki in Fiji.
Moe, Morwell and Traralgon are having issues, but the owner occupier ratio is increasing. Still I don’t think I’d wrap there under just any circumstance []. The demand for houses still exceeds the supply at present. ‘Auctions’ have replaced ‘For sale’ and the RE shops have been revamped. That usually means, money is still rolling in!
After talks with RE’s in QLD, they are gobsmacked by the number of interstate investors buying site unseen or flying up and buying all their stock, even in areas prone to flooding !!!
One agent had his vendor put the price up 15K just after listing it. Crazy times ahead, when it’s time for price correction!
As another comment, I’m always concerned when investors as opposed to homebuyers are the ones forcing prices up.
This is occuring in coastal areas of QLD, WA and Tassy at present. In fact, my friends in QLD and another in Sydney missed out on houses due to investors willing to pay marked-up prices, even with low yields. [?][?][?]
Talking about Rental’s, they have to turn people away (or so they say).
I haven’t got a favourite fishing spot as yet. I’m still concentrating on letting go of a Toadie [].
BTW, I’m not sure about prawns in Fiji, but Mini would be having a feast in Bali with seafood. I’m going scuba diving in Fiji, my birthday present is my advanced open water cert (last year it was an ip!). I might indulge on my actual birthday for dinner though [].
I will however be checking out the prices of property in Fiji (can’t help myself).Who else does industial and environmental checks/research when doing due diligence before purchasing ip’s?
Cheers
Sooshie []
Still 5 sleeps till Fiji!“Giving is a Blessing, receiving is the bonus”
I can’t claim to have done exhaustive research, but have wondered about this question myself.
The main issue for me as an investor is whether environmental issues threaten the long-term sustainability of an area’s major industry. If it does, then there could be population/vacancy issues and the area may not be good to invest in.
I’ve wondered about towns along the Murray River. They have huge problems with water quality, etc, but the towns there keep growing and property prices are quite high.
Then there are wheat/sheep farming areas where soil erosion and salt is a big problem – even damaging some buildings in town.
The greenhouse effect and rising sea levels don’t get as much press now as 10-15 years ago, and no one worries about it these days when they’re about to buy a property on the coast.
Peter
Hi Peter,
I’ve also noticed properties for sale in drought stricken areas. This is good news for farmers, who’ve had a rough trot (to say the least!) but I don’t understand what these investors plans are…to wrap a house to a farmer? (Soosh might be in DOH! land at present)
There are many issues to consider when purchasing ip’s (including stronger AUD)
I’d like to find out how Tassy ip investors are doing their research on industry?Cheers
Sooshie []“Giving is a Blessing, receiving is the bonus”
Hey Soosh,
Don’t go spearing anything you shouldn’t be… and is Michael’s hair safe to (ah em) go swimming? [
] (that one’s for the ‘saurus!)Seriously, don’t go causing any coups!
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hey Steve,
If my navigation skills are anything like my spelling skills, I recommend you avoid the water for a while [:0)]
Thank G-d I can cook!
Mike’s hair is going to be shorn tomorrow. ‘Saurus declined on the ‘pull test’ when offered at the seminar []
Remember in some countries, women like me are considered rich. I’m sure I’ll get the info on property and perhaps I can snag you an island (freehold).By the way, this was supposed to be a serious topic/post! Warning people about the importance of Due Diligence (dd). I’d still like to hear about the dd Tassy investors are doing.
Sleepy Sooshie
Night Night All [
]“Giving is a Blessing, receiving is the bonus”
]
] (I’ve just come back from a lunch of yummy fresh seafood on the marina [^])
]
]) I might try some handline fishing in Raki Raki in Fiji.
]. The demand for houses still exceeds the supply at present. ‘Auctions’ have replaced ‘For sale’ and the RE shops have been revamped. That usually means, money is still rolling in!
].
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