TAS Investing in Tassie, namely Upper Burnie

Discussion in 'Where to Buy' started by Prop Newb, 17th Nov, 2018.

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  1. Prop Newb

    Prop Newb Member

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    Menai
    Hey Guys
    Anyone investing in the above area or anywhere near? Found a few cracking properties for sub 250k 6.5% rental yeild, 3 bedroom. Im in the game for long term, so does anyone see any sit and hold potential?
     
  2. Prop Newb

    Prop Newb Member

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    I forgot to add aswell it is a detached terrace. Is the growth potential still available sitting on a small sized lot? Unsure of the size yet.
     
  3. Prop Newb

    Prop Newb Member

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  4. radson

    radson Well-Known Member

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  5. Hwa Rang

    Hwa Rang Member

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    Why upper Burnie? Do you live in the area?
    I spent some time there when I was a kid. All i remember is that the economy in Burnie always seemed to be pretty bad.
    What does the demographic picture look like? Is the population aging, growing?
    What percentage of the population is dependent on centrelink?
     
  6. HenryF

    HenryF Well-Known Member

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    I would suggest you look a little further South at Launceston & Hobart as much better long term prospects there and you can find the same as what you described-just arguably in a better city.
     
  7. Bean27

    Bean27 Well-Known Member

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    Devonport
    Devonport CBD has very affordable house prices with the potential to increase a lot in the next 10 years. Only 260 median price. Surrounding suburbs median house prices are larger, and this is not the case in Launceston or Hobart. Long term capital growth potential I believe
     
  8. Aaron Sice

    Aaron Sice Well-Known Member

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    Don't.

    Just.....don't.

    Then review not doing it in 18 months time.