Forums / Property Investing / Help Needed! / What about Tasmania?

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  • Profile photo of ArgyleArgyle
    Participant
    @halts
    Join Date: 2015
    Post Count: 19

    I have a smallish sum I want to leverage. Are Devonport and Launceston worth considering as long term investments?

    Argyle
    Phone Me

    Profile photo of Tracey BTracey B
    Participant
    @tracey-b
    Join Date: 2009
    Post Count: 158

    It depends what your goals are. Tasmania works for our strategy – we have cash flow positive investments on the North West Coast.

    At the moment there are some well priced properties available – we are currently considering some more units near Devonport. To give you an idea – asking price is $125,000 per unit and they rent for $175 per week. Annual cost of ownership is $1,255. 6.2% NET on the asking price so possibly an even better yield if we can negotiate a lower purchase price or increase the rent. (Some others in the block rent for $195.)

    Properties like this often don’t get to the internet as the agents will offer them to their database first.

    • This reply was modified 4 years, 1 month ago by Profile photo of Tracey B Tracey B.
    Profile photo of ArgyleArgyle
    Participant
    @halts
    Join Date: 2015
    Post Count: 19

    Hi Tracey,

    That sounds very interesting. Are you able to provide and introduction to the agent you’re dealing with? Or is that something I would just have to research myself?

    Argyle
    Phone Me

    Profile photo of Tracey BTracey B
    Participant
    @tracey-b
    Join Date: 2009
    Post Count: 158

    Sure, happy to share. Many of the local agents will hold your details if you know what you’re after although they don’t always remember to call if you’re not in regular contact with them.

    I’ll Private Message you his details early next week as I’d like to speak to him first to let him know.

    Profile photo of ArgyleArgyle
    Participant
    @halts
    Join Date: 2015
    Post Count: 19

    Thanks Tracey. That would be great.

    Argyle
    Phone Me

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