Sydney Taxi Plates

[Starofdavid]

Years ago auctions were full house to buy Sydney Taxi plates.
They could and were leased out for over $2400 a month.

My dream was to buy a plate and live off the rent...so in 2011 i got serious the price then was average $420,000 with some of the plates having leases of $2600 a month.
But i didnt end up buying.

Fast forward to 2015 and a Sydney Taxi plates are averaging 360k.
im glad i didnt buy back then.But these use to be great investments, investors use to love taxi plates but it seems the Uber etc have hadva effect.

 

[datto]

Uber has scared the pants out of a lot of investors.

Last I read was that NSW dept of transport has raided the Sydney office of uber and obtained details of drivers for possible prosecution. I heard that in Perth a uber driver is "first cab off the rank" to face court.

 

[Hooray]

2600 per month, 420,000 is about 7.4% return.

What's so dreamy about that? Bank shares would have given you a better return. Especially in 2011.

 

[Ausprop]

taxi plates will eventually go the way of WA's Potato Marketing Board and the dinosaur

 

[datto]

What if uber drivers get prosecuted and cop a 100K fine? Is uber going to pay millions in fines? What if the prosecuted drivers go to jail? Uber can't serve their time.

This could be an opportunity to buy cheap taxi plates.

Don'get wrong I think Uber have a fantastic idea it's just their drivers can't do it legitimately in Australia. Unless the laws are changed and taxi owners are compensated.

 

[Ausprop]

govt's will try to resist as long as they can. Our idiot premier here in WA was rabbiting on today about stores opening an hour earlier on Sundays or something (couldn't really be bothered listening tbh, it's so 1975) and wringing his hands with angst over such a serious matter... omg who gives a stuff?? how about stores, if you want to open, then open, if you don't, then don't. next issue

 

[Starofdavid]

What if uber drivers get prosecuted and cop a 100K fine? Is uber going to pay millions in fines? What if the prosecuted drivers go to jail? Uber can't serve their time.

This could be an opportunity to buy cheap taxi plates.

Don'get wrong I think Uber have a fantastic idea it's just their drivers can't do it legitimately in Australia. Unless the laws are changed and taxi owners are compensated.

I'm thinking that too... But I'm thinking if I buy now for 360k will they go back up to 425k? It's a gamble, maybe they'll go down again?
I suppose if I ever lost my day job I could fall back on the taxi driving so I guess there's a plus.
But as a investment it's a bit worrying...http://www.smh.com.au/nsw/cost-of-b...s-to-lowest-in-six-years-20141213-126fzp.html

 

[willair]

I'm thinking that too... But I'm thinking if I buy now for 360k will they go back up to 425k? It's a gamble, maybe they'll go down again?
I suppose if I ever lost my day job I could fall back on the taxi driving so I guess there's a plus.
But as a investment it's a bit worrying...http://www.smh.com.au/nsw/cost-of-b...s-to-lowest-in-six-years-20141213-126fzp.html

It could also go the other way below 300k,every industry like the taxi and I can think of another 20 that are threatened with change over the next ten years will all have to change their business model..imho..

https://www.youtube.com/watch?v=DjgINxorEas

 

[mrdobalina]

Ride sharing business models, like Uber, is a disruptive innovation.
https://youtu.be/qDrMAzCHFUU

It will make taxis irrelevant and the value taxi plates worthless.