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Tasmania - The pocket rocket

The September issue of Australian Property Investor profiles the Hobart suburb of Rokeby. Property investor Andrew Bowerman who owns a property investment there shares his observations below.

Name: Andrew Bowerman
Lives: Rosny, Tasmania
Invests: Rokeby, Triabunna, Launceston
Properties: 5
Strategy: Buy and hold

Dual rental income in Rokeby

Six years ago Andrew Bowerman, 36, felt it was a good time to return to the property market because housing prices around Hobart were still affordable and starting to demonstrate capital growth.

His criteria included finding an affordable dual income property (so he could live in one flat if needed and rent out the other) located between the airport and the Hobart CBD with the potential for growth and gentrification.

For Andrew, Rokeby wasn't only a good choice as an investment but also a lifestyle decision because at the time he was working at the airport so it was easy to access.

He adds that the Hobart airport is a 13-minute drive northeast of the suburb, while Hobart CBD is a 10 to 12-minute drive northwest of Rokeby.

"It's also within a seven-kilometre radius to four good beaches, five minutes from Shoreline Shopping Centre," he notes.

In Rokeby, Andrew found a two-storey dwelling with a two-bedroom apartment upstairs and another two-bedroom apartment downstairs.

He spent less than $10,000 on creating two separate electricity meters, building in laundries, creating storage space, and improving the kitchens and bathrooms prior to placing it on the rental market.

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