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... And any trips up there may well be tax deductible (subject to ATO guidelines of course)

My brother in law has a place on a lake in NSW. It's a trout fishing place. He's put in a transportable into a caravan park. It's not an investment for him- it's a lifestyle. Fishing opportunities etc are perhaps just a "red herring". In the end, it is still just speculation- unless you...

Is it waterside? Is there good fishing? Does it have services (Electricity, water, sewerage, possibly phone)? If so, it could make some money as a holiday unit to fishermen. That would at least bring some income- and contribute substantially to holding costs. Without that, it's...