Went to hear Garth speak last night. Seems he and his partner who have been involved in realestate and investing for nearly 30 years, are expanding the business here to Tassie.

Without being too cynical I felt we were being spruiked to in order to drum up future business rather than giving us useful information we could use to help us…[Read more]

So down here Tenants have recourse against landlords via Tenants Union and Residential Tenancy Commissioner.

Are their any bodies, groups, agencies that assist landlords or is that what we…[Read more]

Just for your info the coverage we have with CGU does not cover loss of rent in this instance – did make the inquiry though.

Thanks

Matt

Property was managed by us originally.

Now have a PM in place – she is fantastic, new tenant moving in this week.

Have lodged a notice of dispute with our Residential Tenancy commissioner and if we get a ruling in our favour will look at your suggestion Terry – very interesting.

Needless to say we have learnt a lot in…[Read more]

A guy I have got to know who has 32 properties across Tas and Qld and Gold Coast has renovated a few fibro places in his time. He said he has removed the cover strips filled the gaps between the fibro sheets with a suitable substance and then rendered over the top.

Sounds feasible, but I’m not sure how well it would hold to the fibro…[Read more]

I’ve just had recent advice that its OK to take off the cover strips and render over the fibro.

Has anyone had experience with this?
Has it lasted and continued to look good over the long term?

Matt

The HWC is very old but was in perfect working condition when we purchased the property. Since then it continues to work well but with low pressure and has also developed a leak.

Certainly I’ll check with the account to clarify.

Matt

Research counts for everything and enthusiasm not for much when you’re starting out!!

I think you will find +ve cashflow properties are very hard to find – they are out there but its not as easy as lets go find one and snap it up.

Take your partner’s caution in mind to perhaps temper your own enthusiasm and do some more research.…[Read more]

What are the costs?

Do people leave it intact and clad over it?

Matt

What are the costs?

Do people leave it intact and clad over it?

Matt

Matt

Not just visited, lived there (midlands)for a while, now down south in outerlying area of Hobart.

Matt

Would be a great idea if it was a regular old IP.

However, we bought it based on position and renovation potential (its by no means a dump, just small when you have 4 kids) and one day it will become our PPOR. So it was an emotional purchase – we are currently letting it to gain some tax breaks and use others to help pay the…[Read more]

Firstly thanks – similar expectation here in Tassie – continue top pay rent until it is retennanted, pay for advertising etc.

We have prospective new tennants already – but current tennants (ones moving out) have suggested we keep bond (4 weeks rent) as a buffer to help with the transition – sound like a win – win to…[Read more]

Don’t want to completely disappoint you but Tassie’s prices haven’t yet seen the slow down other areas have. Still asking big prices and still managing to sell, even if they are staying on the market a little longer.

Cf +ve deals on mining towns on West Coast – leave well alone, very little population, very little capital growth, fair…[Read more]

Two cliche’s come to mind

Quality not quantity.

Due dilligence.

Matt

Great post. Excellent information here thanks to all the contributors, will ensure I keep this one for future refernce.

Matt

Thanks for your contributions. As a 32 year old dad who has had all 4 kids from a young age, I’m feeling more confident now that I still have plenty of time, kids are now getting older, soon income levels will allow more investing. Just goes to show age is certainly no barrier.

Will revise my goals to be little more realisitic in…[Read more]

Do a search West Coast Tassie, someone last week talked about the mining companies controlling towns – not exactly sure what they meant – might be interesting to follow up.

Despite the mining angle, the West coast of Tassie is beginning to get a bit of Rep as a tourist destination

Very Wild winderness
Mining moonscape of…[Read more]

What a position to be in!

Good luck when you decide to take on some debt. I’m sure you’ll have a hell of a time buying again.

When do you think you might propose to do so?

Matt

I guess I was speaking from the point of view of someone who is really champing at the bit to get into investing more heavily but is only constrained but funds, and of course more knowledge from research.

A good point you make.

By the way I’m a Leo.

Matt

Other useful points

Learn the jargon.

Do a search on the forums for abbreviations. It makes reading posts so much easier.

Use the searches to snswer your questions as well as posts. Most stuff has been discussed around here at some point.

Due Dilligence

Know as much as you can about the property you intend to buy.…[Read more]

I too have not long ago finished 0-130 and have only frequented the forums for about a week. I get the feeling most people are in a wait and see holding pattern at the moment, although they seem reluctant to admit it.

Interesting point you make.

Matt

Thanks very much for the info. Its really appreciated that you are happy to share info for those of us just beginning the journey and not guard it as your own. Rest assured my foray into investing will be some way off but I’m very interested in getting to know all I can especially the tricks of the trade all you regulars obviously use.…[Read more]

When you say

“I will sit tight for next 6-12 months.”

Do you mean you’re not intending to buy more property for that period?

Surely you keep an eye on the market and would snap up a CF +ve bargain if you found it?

Matt

Hindsight Oh Well.

Moved to Dodges 3 years ago. don’t know how many sub 100K properties we looked at in that time, even sub 60K properties. If only we had snapped a couple up.

I would like to invest closer to home – where around Hobart would you think of investing?

My accountant friend and I are thinking of teaming up in a…[Read more]

Hobart (New Town). Moved here to go to Uni 7 years ago and still haven’t finished .

Where are you?

BlackJack,

From Hobart originally – Now my wife and 4 little ones live at Dodges Ferry.

We team teach at Dunalley primary – we share a class so one of us can stay home and look after the young ‘uns.

New to the IP game – just 1 IP…[Read more]

Its good to see the discussion getting back to this kids.

Amazing little (or big as the case may be) things aren’t they.

Good to hear your from Tassie – me too – What part?

Any and all funds we get from the government we re-invest into our kids. Family tax benefit Part A (Family payment) which we get fortnightly we put into ASG for our kids education.

The family bonus we used to add heating to our IP, happy tenants, longer…[Read more]