Rosebery, Tasmania provides some great Positively geared investments opps. The mine is thriving on the back of the commodities boom and rents are rising. Get in quick, as mining contractors from all over the nation are flocking there in droves. The population for the region is currently growing at over 5% pa.
What do you own there Yorker?
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked! 6.85% Rate!!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
more to the point, how many has he got for sale?
yorker
please get your hand off it
r
None for sale, doubt there are any left guys. As for you Richmond, hardly worth my time, isn’t the point of this Forum to assist others in their investing pursuits? Wouldn’t isolating one of the few remaining regions to purchase Positively geared property be of some help/use? Do you have any better options?
Easy to criticise, however I don’t see you giving any spots out?
Not meaning to give you a hard time Yorker – just genuinely interested in what you have bought there yourself?
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked! 6.85% Rate!!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
As I have said in other previous posts, yes I have indeed owned properties in Rosebery over the years, however I sold out of the market 6 months ago. In light of the information I have received re: The mine and rental growth I am looking to get back in. I have contacted my old agent contacts and am looking to pick up a few. I won’t be able to take all of them hence thought I’d share it with the forum. Noone is under any obligation or anything, just think its worth a look. Properties in this region Do satisfy the 11 second solution.
Well done.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked! 6.85% Rate!!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Gee thanks matey
Yorker – your a good person.
Thanks for the tip but I’ll have to pass – low on deposits at the moment…and will be for a while.
cheers anyway and best of luck with the purchases.
Kind Regards,
George.I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
Hi Yorker
come on ![biggrin]
you have been on about this tiny little town called rosebery for ages, i know your not that stupid to be putting a post on the forum before you have bought.
How many do you really have for sale Yorker ?
oh for the record this is what the abs saysabout roseby
The highest rate of population decrease was recorded in the Urban Centre of Paraburdoo in WA (39.2%), where the population fell from 1,975 in 1996 to 1,201 in 2001. Decreases over 20% were recorded in Norseman (30.0%), Newman (26.3%), Leinster (23.9%) and Kambalda West (20.8%) in WA, Dysart (28.3%) in Queensland, Rosebery (22.8%) in Tasmania and on Christmas Island (23.6%).http://www.abs.gov.au/Ausstats/[email protected]/0/2d3414bffca7b97aca256cf4007d4d3c?OpenDocument
Regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Yorker
just before you invest in Rosebery you should be aware of some data
Population trends of mid-size urban centres (1,000–19,999 people), 1976–01Population centre Rosebery
1976 2,534
1981 2,675
1986 2,102
1991 1,637
1996 1,439
2001 1,115Change (%) 1996–01 –22.5
Source: ABS Census Data 1976–02http://www.rpdc.tas.gov.au/soer/indicator/55/index.php
Total change -55% Is there a heap of vacant homes there ?
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
nice one westan – everyone this is called due diligence.
and i think even yorker will admit that his charity was especially overwhelming. i mean letting us know on two threads not just one….
++
there is however some chance that prices could still rise eventhough populations decrease.
someone can correct me if im wrong but tasmania as a whole has experienced negative population growth but overall house price growth (over the last 10 years).
Originally posted by Yorker:None for sale, doubt there are any left guys. As for you Richmond, hardly worth my time, isn’t the point of this Forum to assist others in their investing pursuits? Wouldn’t isolating one of the few remaining regions to purchase Positively geared property be of some help/use? Do you have any better options?
Easy to criticise, however I don’t see you giving any spots out?
clearly you haven’t been around here for all that long then.
r
Hi Yorker
just be careful when your down there next not to go fishing or swimming
Pasminco Rosebery Mine
PRM operates in the catchment of the Stitt River. The Stitt River had become severely degraded over many years by pollution from townsite sewage effluent, silt in stormwater and from acid seepage from historic mining areas. The river degradation was characterised by high levels of nutrients and faecal organisms during low flow periods, and high turbidity during storm events. There is sufficient evidence to suggest that the river was largely void of aquatic life within its lower reaches prior to implementation of the partnership agreement.http://www.deh.gov.au/industry/corporate/eecp/case-studies/pasminco.html
In fairness to rosebery the article mentions they have started to clean up the sewerage and pollution and the future cleanliness is a priority of the mine.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi Guys
Borrowed this post by alwayscurious from the Help Needed Forum:
Just checked out a few stats for those who are interested>Rosebury has 1300 people.
According to one site:
There are two groups – a) miners
b) unemployed / pension / retired.Lots of people moving from within the state because of cheap housing
Two mines tin & zinc – one owned by Pasminco (under receivers, bought out by Zinifex)
Zinifex (formerly Pasminco) zinc mine. Tel: – (03) 6473 2222
and the soon to re-open Bluestone tin mine (formerly Renison Bell) Tel:- (03) 6473 2732.
This website said that the miners work a four day shift and stay elsewhere in the state usually.
Lots of transient type housing required?
Buyer Beware.
Regards
Hi Yorker
you said that you used to own there but sold out about 6 months ago BUT on this forum on the 2 july you said
I’ve noticed a few positively geared properties in this region. Anyone know the future of the mining industry there?Then everyone warned you about this town.
Even though people warned you 5 days later you were advising people toHit Rosebery, Tasmania HARD. Go son!.
Then on the 20th of August you were putting up posts again about Rosebery.
Now today you are going full on Rosebery sayingI’m looking to get back in due to this new information that has come my way. Going for additional finance approval.You have to admitt it looks mighty suss ?
If the mine isn’t about to employ lots of workers i’d be selling not Buying in Rosebery.
Anyway the properties there aren’t cash positive in fact they will be negatively geared. $100 pw on a 50,000 property isn’t worth it. Lets do the sums
Say you have 20% deposit and loan 40k at 7.25%
Interest payments will be $2,900
Rates (high in tas) my guess $1,200
Insurance 300
Management (is there a manager in town ?? 500
Repairs (should allow at least) 300
Total Cost of ownership $5,200
On rent of 100 per week lets allow 50 weeks of letting that 5,000
So this deal isn’t cash positive it is a negative geared deal. Best to invest in Cash Positive properties i always say.
So verdict do Due diligence with the view of selling in Rosebery, Hope that helps Yorker. Or were you already aware of the figures ?Regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Great use of dated data.
Ps- not to sound rude, but you still haven’t offered any alternative areas. I never once told people to leap in with out performing proper due diligence, however if you are going to go to the trouble of researching an area wouldn’t it be prudent to:
(a) Actually visit the area
(b) Rely on accurate, up-to-date figures to come to your own conclusionsAttack as you wish, for it has no effect on me at all, however we STILL eagerly await your alternatives.
I look forward in anticipation to “Critically Exploring” your chosen positive cashflow areas.Westan,
Your figures are clearly dated, you have not visited the area and appear not to understand the 11 second solution (Perhaps the fundamental principle promoted on this forum). Try your sums again pal.
PS- I’m not promoting this area, just relaying my experiences and up to date information. I encourage everyone to perform due diligence, however make sure you know how to actually complete the process.Hi Yorker
I did the sums again and got the same answer, funny that. It is still not cash positive. I agree you should if possible look at the area before you buy. and you are correct i’ve never been to Rosebery, but i wouldn’t want to if the returns aren’t cash positive.
As far as cash positive you want an alternative, well get on a plane and go to New Zealand.
We sent out a deal yesterday to our clients that was showing a 17% return in a community of 5,000 people which is about to have a new 100 job industry open soon. I’ve been to this town and own 4 properties there myself. Unfortunatly i’m still trying to buy some for our friends and clients so i can’t tell you where it is apart from saying its in NZ. People on our databse will tell you we consistently find deals showing 10-14% returns. 17% is really good and very unusual.
As far as my out of date figures , yes they are but they are the most recent available from the ABS. If you are correct that the town is growing by 5% can you please provide the figures to support your information, as i have done with mine?
regards westanI live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
I’m sure NZ has some great buys, clearly our dear friend Bob Carr believes so.
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