Hello everyone,
First let me say I have found this forum very informative and interesting and am anxious to get started. I’m only half way through Steve’s book after buying it on the weekend and I’m already excited at exploring what opportunities are out there. Being from Brisbane which everyone knows has sky rocketed, the avilability of any cash positive properties here would be close to non existent. However I’ll be going to Tas in a couple of weeks for a week and was wondering of any opportunities down there. Are there any investors out there who have had success in this state. If so I would love to hear any stories or advice. (I’m new to the site so I haven’t had a chance to look at all forums if some one has already asked this question)
Rolf Landicho
rolf
I agree with you that Brissie has made the purchase of wrapped properties almost unviable due to the increased prices.
But why run half way around the Country to a new State when some of the best deals are still on your doorstep.
99% of our present wraps are being done in rural Qld. Prices are still affordable and you can if necessary monitor the properties.
If you stay in Qld at least you get to now the legislation, levels of stamp duty and the area.
Stay in the Sunshine State and wrap to a win / win future.
Cheers Richard
richard at fhog.com.au
http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundRichard Taylor | Australia's leading private lender
Much as I love wraps, I don’t know if Rolf was actually looking for a wrap, or just a regular positive cash-flow rental property??
Rolf – if you do go looking in Tassie, make sure you look into all the costs… I believe they have higher rates or taxes than some of the other states..(?)
Just make sure you account for them in your calcs.
Good luck! [
]Lozza
Hi rolf
be carefulin some areas of Tassie as they are really bad. I owned a home in Clarendonvale (sold it 12 months ago) i caused me more trouble than all my other IP’s combined. My Australian properties are often in working class areas (eg housing commission areas) but this area is a don’t touch area. Check with property managers in Tas, there are some suburbs of Hobart they won’t manage properties in. You name it, it happened in the 5 years we owned the home, New carpet stolen days after it was put in, windows smashed, every tenancy was a problem, the last caused 5k of damage(luckily i had LL insurance, not i couldn’t get LL insurance in Clarendonvale), burnt out cars, threats made to tenants. the only good thing was i sold the home at a 60% profit.
Have fun but do your homework, i own in SA, Vic and NZ and wouldn’t advise against any other areas i own in.regard
westanI find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
On population trends – Tasmania has the largest outlflow of population of all states.
Some of the previous industries (woodchipping is an example) have all gone. Would be wary.
James
Thanks to all who replied to this post. As you could probably guess I’m pretty green and I’m still in the process of brainstorming and trying to gather as much info as I can. The reason I thought of Tassie was simply a convenience reason because my wife’s uncle lives down there and has 10 -12 investment properties in Launceston which he rents to foreign students. I’m yet to determine whether they are + or – geared.
My in laws who used to invest in property years ago ( before losing it all in a business venture…long story), seem to believe that wraps are unethical. I’ve just finished reading about wraps in Steve’s book and seem a bit wary. Is this technique essential in having a successful IP portfolio. Again thankyou to all those that replied.Rolf Landicho
No rolf, wraps are not essential in building zour portfolio. The MAP program people (a dozen people mentored bz Steve) have made their money without doing one wrap- and all of their properties are positive cashflow. Others of us have issues with the ethics of wraps too, rolf- as always, invest with your conscience.
kay henry
Originally posted by georgisj:On population trends – Tasmania has the largest outlflow of population of all states.
Some of the previous industries (woodchipping is an example) have all gone. Would be wary.
James
Hi James,
Where are you findign out this inforamtion?
Regards
Julain[
]THERE IS ALWAYS A BETTER WAY!
Julian,
ABS population statistics – some are free on the web, others you need to purchase.James
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