Hey guys,
I have read some of the posted discussions listed in the forum in regards to the positive cashflow properties and I too am having difficulty in finding them. I live in Tasmania, and in the past two years or so, property prices have increased quite dramatically. Even the properties that are really run down are above $110000 and they would require $30 to $40K to fix up. I am having so much trouble in locating only one of these properties, that are under $80000. I have looked everywhere, week after week, but to no avail. Also looking in the local paper, more and more rental properties are looking for tenants. Scary. There are only so many suburbs, cities or towns in Tassie, which makes it really hard. After reading the postings, I am really looking forward to the property prices going down, that is if they go down soon, due to the interest rate increase. I think that it may take some time to do this though. I could look on the mainland, but I don’t think it would be a good idea, because of the distance between the islands. (Not expensive to travel, but hard to monitor and look after). Please help, with any advice at all, would be greatly appreciated. I know that persistence is the key to success. Please help.
Jjmandrew
g’day
good post – dont fret. yr not alone….
they are hard to find. and yes i too am waiting for the market to drop so i can get amongst it.
im in no rush though. try using this time to learn as much as you can, save for deposits and then you will be ready to pounce when the opportunity arises.
having said that im sure there are some good deals to be done right now, just not so many.
if you cant find anything in tassie then chances are you wont on the mainland.
why not try new zealand where i believe there are still opportunities….
J,
Where abouts in Tassie do you live? I’m in Hobart and have started looking for properties for investment. Drop me a line if you want to talk investments. milkman3(remove)@tpg.com.auHey guys,
Have got word that interest rates wont increase all that much. Not concrete but possibly. Probably .75% or something. If they were to go too high the depression would set in. Besides that everyone would be mega annoyed with the government. Just got the latest stats too about negatively geared properties. Mcfairlain notices that property prices are going up and more people are going into debt. To compensate for this, something has to come in to prevent the continual rise. Although the economy is good at the moment, housing prices will plateau of at some stage or another. They will still go up of course but at a slower rate than past years. This is not concrete information, but it is information that I picked up at a money seminar I recently went to. What do think about this?????
It wont ever go back to like it was in 87, wher it went up to 17%. [
]1987 more like 22%
I remember these rates, we were paying off our PPOR and were very happy with our fixed rate of 13%!
Never again, I hope!For those who are fixated on positive gearing, which is just a function of how much cash you put in yourself, I cannot recommend too highly the works of the Wakelin Group, in Melbourne. Specifically you should read “Through the Looking Glass, Residential Property View 2003”, pages 8 to 11.
I can’t paste them here because it is copyright but these people really know their stuff.
]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
