Hi peoples,
My name is Guy and I have just joined.
Can anyone steer me in the right direction on this topic. I have tried looking at past information which has been posted but with 615 pages to go through after conducting a search, I was hopping that someone might know the title so an extact match search can be done.
Thanks.[smiling]There is no such thing as a definitive one post which says ‘this is everything you need to know about investing in Tasmania’. For every one opinion, there’s another who says the opposite.
Also,
something which was was true one or two years ago – i;m just making this up but i.e. ’15 percent yields in Hobart’ – might not be true today.Hanging out with fellow property investors is definitely a ‘shortcut’. but there’s not really a shortcut to the ‘hanging out with’ part.
So how about this for an idea…start reading your 615 pages of search results in which we collectively spill our guts and be thankful that it’s even there to find in the first place….
And know that part of the reason it’s 615 pages and not 65 is because time after time, the new ones come and ask the same questions over and over. *sigh* no blame, just an observation
Queenstown has great yeilds.
Regards Bear
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DONT MISS OUT!!!!!Hi,
I have a brother who is a lands evaluator in the North of Tassie, they are flat out with valuations so he has a good eye on what properties are worth.
I already own one property there and am always looking for more … lucky for me I have eyes with local knowledge.
At the moment, I am being told to sit and wait, people are still greedy from the past twelve months and that properties are still overvalued.
This is just one part of Tassie however and I guess it depends on how much money you wish to sink into it up front?
rgds
wejons1wejohns- why is that people are “greedy” when they want to sell their property at a good price? When you sell your property, do you make sure it is CF+ for the new vendor? Noone I know here or any other IP investor sells their property at CF+ prices, so I am not sure where the “greedy” notion comes into it. Since the boom, property prices have gone up, so the selling price usually reflects that.
kay henry
Kay,
I use the term “greedy” because the prices are way over their true value, not a good price for what is being offered, without even looking at whether it is CF+ or not.
I guess also good luck to them if they can sell their properties at that price, but they are not true value for money, my thinking anyway.
I am happy to pay full price for what a seller is asking for, and have done so, because I believed the price was a true indication of what the property is worth.
wejons1
Originally posted by MiniMogul:There is no such thing as a definitive one post which says ‘this is everything you need to know about investing in Tasmania’. For every one opinion, there’s another who says the opposite.
Also,
something which was was true one or two years ago – i;m just making this up but i.e. ’15 percent yields in Hobart’ – might not be true today.Hanging out with fellow property investors is definitely a ‘shortcut’. but there’s not really a shortcut to the ‘hanging out with’ part.
So how about this for an idea…start reading your 615 pages of search results in which we collectively spill our guts and be thankful that it’s even there to find in the first place….
And know that part of the reason it’s 615 pages and not 65 is because time after time, the new ones come and ask the same questions over and over. *sigh* no blame, just an observation
Well, excuse me for being new. I not used to being told in a blunt manner. I do however, value your thoughts.[stun]
Tasmania is an area that really heavily relies on mining and logging…. and so the market can be very boom and bust… Mines go through big cycles (so when it’s good, it’s good, but when it’s bad, it can be real bad…), and at the moment were on an large upturn, though apart from China the market is quite weak.
“Queenstown has great yeilds” – well they don’t call it the wild west for nothing… The good, the very bad and the very, very ugly…
Rgds.
Lucifer_auOriginally posted by Lucifer_au:Tasmania is an area that really heavily relies on mining and logging…. and so the market can be very boom and bust… Mines go through big cycles (so when it’s good, it’s good, but when it’s bad, it can be real bad…),
Not true – mining is almost dead and has been for some years. Forestry actually employs something like 3% of total workforce. The Tasmanian market is NOT boom and bust it is boom and then flatten for 6-8 years.
“Queenstown has great yields” – well they don’t call it the wild west for nothing… The good, the very bad and the very, very ugly…Queenstown has nothing going for it apart from cheap prices – no real industry and it has a moonscape rather than a landscape.
Welcome Guy,
My reaction to the first reply to your question was exactly the same as yours. [blink]
I loitered on this site for weeks before I was game to post a question. I’m sorry your experience so far hasn’t been the tolerant and welcoming reception most people experience.
I currently live in Tassie and welcome any discussion on our fine country [biggrin].
Kay, the use of the term “greedy” is excusable because it is ingrained in people subconscious by years, decades of programming. Remember rich is “evil” poor is spiritual or “virtuous”.
There is no escape and it is this limiting belief that stops people from prospering.If you ever have a group of people, you can ask question to, seminar or similar, run this experiment:
Ask the group, to tell you what they would do if they had a no limit credit card that needs no repayments.
You will notice they will in general moan and groan about how they are OK and been blessed and in fact have a roof over their heads and perhaps changing the car, an a new pair of shoes, may be a holiday for pope etc.
Now change scenario: You say that they are on a deserted beach and a lamp washes ashore. They pick it up and polish it, and a genie comes out and states that will grant each one 10 wishes, anything they like.
See people come alive and lighten up, the inbuilt belief system is temporary disabled by the game. The genie is a fantasy so it is OK to speak your mind, people will wish themselves 23 houses around the globe, 100 foot boats with helicopter on top, Lamborghini and Maserati and, you name it….
Rich or Poor . . . . its your choice.
End of rant he he.
May God bless you
and prosper you.
MarcIn answer to the original question I think Tassie is an excellent investment, however long term and
don’t rely on + cashflow properties. Logging and mining maybe 20 years ago but for sure the future is tourism. Freycinet, Cradle mountain, Port Arthur, wilderness, rivers, forests, I could go on and on. 250 000 + tourists last year. The food, wine and countryside are splendid.Property wise they have just had a two-three year wake up period where prices went sky high. A correction or easing off is occuring now. I today signed a contract on a house and 110 acres beautiful views etc for 300K the owner had knocked back 342k in November last year. If you are prepared to buy and hold or buy and develop I don’t think you can go wrong long term (IMHO). Location as always a key factor but compared to the mainland you can get some great coastal property. That’s something that they don’t make any more!
Tassie go for it let time prove me wrong[biggrin]
For such a simple little question, it sure sparked a big debate!! (Over things tottally un-related i might add). I think you would find it much easier to just post a new question asking whatever it is you want to know. Generally, the people here are pretty helpfull (even if they do occassionally get side tracked… and can’t spell)
What is it about Tassie that interests you so much anyway?
Dan.
Looking for positively geared property? Check out http://www.positivelygeared.com.au
I currently live in Cairns and will be moving back to WA at the end of the year. I come from Hobart, and plan to move back there in 2 years time. That’s why I am looking in Tassie. I thought it would be easier to manage my properties if there in the same state as I live.[smiling]
Hi guyn
when investing in Tassie be careful as there are some horrendous area (i don’t use that word lightly), Propoerty Manager will not touch some suburbs of Hobart in particular be careful of Clarendon Vale, Rokeby and so on, check with property managers where not to buy. there are reasons why the Police force was offering housing to it members for $1 per week in Rokeby a few years ago (don’t know if they do it now).
all the best
regards 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]
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