That’s correct, no cooling off period in Tas which does catch some people out.

There is a standard Law Society/REIT contract which most people use here. There is provision in that to make the contract subject to finance, subject to building inspection etc. If you have special conditions eg pest inspection you can draft them into it as…[Read more]

I use John Oliver at Solutions to Business. He’s very approachable and helpful: joliver@solutions2business.com.au

I’m a lawyer down here so can help you with that side of things if you like.

I haven’t used a buyers agent myself but some of my clients have used Rob Zubin at My Property Hunter. They were very happy with him and I…[Read more]

If looking for a house as an investment, do not confuse it with a house you want to live in. Look purely at the investment potential, the numbers…[Read more]

How did you go with this, did you find a meetup? I just joined the group on meetup.com but doesn’t look like any are currently scheduled.

Have you had any luck with this? I’m in Hobart, know a great guy who’s a property manager I can put you in touch with. I can probably make some enquiries if you need others. I’m a lawyer down here in case you need any assistance on that front.

I bought in Chigwell last year, renovated and renting it now. Looking for a similar place at the moment. I’m a property/commercial lawyer too so always happy to talk about the legal side of things too.

I’m talking about heating for inside the house (it’s in Tasmania).

Heat pump quotes are about $2,300 – $2,600 installed. Electric is about $1,000.

Cheers.

For an IP, obviously heat pump costs me more upfront but is cheaper for the tenant to run than an electric heater. Would be good to keep the tenant’s bills down – I guess this would result in better tenants, renewed leases, less vacancy, perhaps a slightly…[Read more]

https://www.accc.gov.au/consumers

If it actually cooled the place to 26 degrees though you might have to have a closer look at what they said it would…[Read more]

@dtraeger
@superandrew
I’m interested to hear why you are both suggesting staying away from vendor finance? Because you’d ultimately be giving up a cash cow?

I read that too. There’s heaps of info out there but beware one of the biggest online markets is selling products about how to make money online. Kind of like real estate spruikers who actually make all their money selling products about real estate rather than actually making money in real estate.

I haven’t actually made a cent…[Read more]

@PaulDobson good on you for fighting the good fight for VF! I might get in touch with you soon, wouldn’t mind chatting to you about it at some point if you have time.

I’ve just read Steve’s recent book “From 0 to Financial Freedom, How To Do It Today”.

I love Steve and his practical approach, but to be honest I found it somewhat depressing reading. His message in a nutshell is:
– the world has changed from when he got started
– buying cashflow positive properties is still possible, but to build…[Read more]

I’ve just read Steve’s recent book “From 0 to Financial Freedom, How To Do It Today”.

I love Steve and his practical approach, but to be honest I found it somewhat depressing reading. His message in a nutshell is:
– the world has changed from when he got started
– buying cashflow positive properties is still possible, but to build…[Read more]

If he actually wants you to take the house off the…[Read more]

Unless you can point to an actual mistake in that…[Read more]

When I said 25%…[Read more]

If you’re making multiple offers and not sure which ones you’ll go ahead with then a ‘get out’ clause, or cooling off period will help you. It doesn’t take that long to plug your details into a contract either so you may even prefer to just give the vendors contracts rather than the letters you’re talking…[Read more]

To add to this, do you guys use any type of formula when working out what the relevant figures will be? My property is in a pretty low growth but high cashflow area. I was planning to price it at about 25% above its current value for a 3 year option (or a bit higher for 4 or 5…[Read more]

Does anyone have experience in setting up lease options with a long option period? What’s the longest period you would recommend? Is 5 years ok? I understand that the longer the period, the more likely there will be fluctuations in market value, so I guess the longer the period the higher the sale price would have to be.

On a similar…[Read more]

So if i give them notice and get someone else on board do i have to wait 30 days before they start advertising ?

Firstly, I agree with the…[Read more]

The relevance of the lease option is you’d be looking to place tenants for a longer period (or for good if they buy the place), so realistically I guess you’d have to wait until renos are done to commence a lease option. So it’d be 12 months of a normal lease, then renos, then lease option v…[Read more]

I have a property under contract and am considering setting it up as a lease option, to increase cashflow (should be cashflow positive). However, I would like to be able to draw some equity out of it asap so that I can use it on a new property. The place had an old lady living in it so it’s just a bit dated but perfectly liveable. I’m…[Read more]