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thanks for your comments guys… I have changed my approach a bit and have purchased a block of land with the intention of building our PPOR in Tas. 800m2 block for $110,000, 7km to hobart and having plans drawn up for two townhouses, of which we will live in 1….hopefully that does the trick. Thanks again guys
tuggeryo futzy…
your best bet are 'simmons and wolfhagen'… they are just about the top conveyancers in hobart….stickk with them…cheers
tuggerG'day Futzy..
.
I have 3 I.Ps in Hobart and they are all provide good rental returns 5-6% and are tennanted 12 months of the year. We have 2 in Kingston (15km from hobart) and they rent well but our townhouse in the middle of Hobart (Sandy Bay) rents within a week of tenants leases finishing, often with 3-4 parties submitting applications. If I were you I would spend $400k closer to central hobart. Low socio-economic suburbs around Berriedale and I would be very suspect on a rental property exceeding $400pw in this suburb… good luck with the search. Cheers
tuggerGood onya Adrian and Amber…
We have 3 IPs already and have the next 3-4 years mapped out as we are currently living in the NT and putting some serious money into our mortgages. We are planning to start a family soon and are very excited about the future. I suppose I just love investing and think about it all day everyday, and the more I can get my hands into it the better…plus I really enjoy seeing my own properties and talking to people…. will think even harder about our plan and see how we go. Thanks again
tuggerin mid 2009 I will be taking 12 months half pay leave from my job, so I thought it might be a good opportunity while I am doing some renovating to also dabble in property management.. even if I take on 1 property first and learn the ropes, before taking on the second and third at a later date…. this way I have the time to give to my tenants…. what do you think?
good onya banjo…that sound like a much easier way to add a bit of value to my rental return on the property… with some cupboard handle changes, new coat of paint and a new benchtop that would make a nice change…cheers
tugger
thanks for that…we actually have another real estate agent after our business who has emailed us their prices, so might just do that and see how we go. Cheers
tuggertry REIT…real estate institute of Tas….. some good data, but also some average data…mostly on sales price, wages, housing affordability etc…hope this helps
hey scamp…
by the sounds of it as soon as interests rates do go down you will have no credibility left on here at all…you might just have to retire to that deep dark hole where you come up with all these dark predictions….good luck with that
thats a good idea… do you think it is possible to send off the photos to other real estate agents and ask their opinion on rental returns? I'm sure the previous PM got permission to get into the house prior to the lease expiring but it doesn't appear this one wants to. One of the other people that works with our PM owns the townhouse in front and leases it out…they actually quoted us $380pw so there are even differences about rent within the same office.
I suppose looking at our properties ($380, $370 and $250 per week) we have always had professional tenants and never any dramas with them. The properties are in excellent condition and pretty fool proof. Although it might be time consuming and create more headaches for me, I find the idea quite interesting and feel it would add another string to my bow of property investing if I was to have a go at managing the properties. What I may do is take one out of the hands of the Property Manager and have a go doing one first… once I get my head around that maybe i'll take on the second, and down the track take on the third… this seems like a more logical approach…what do you think?
tuggerI suppose looking at our properties ($380, $370 and $250 per week) we have always had professional tenants and never any dramas with them. The properties are in excellent condition and pretty fool proof. Although it might be time consuming and create more headaches for me, I find the idea quite interesting and feel it would add another string to my bow of property investing if I was to have a go at managing the properties. What I may do is take one out of the hands of the Property Manager and have a go doing one first… once I get my head around that maybe i'll take on the second, and down the track take on the third… this seems like a more logical approach…what do you think?
tuggerI suppose looking at our properties ($380, $370 and $250 per week) we have always had professional tenants and never any dramas with them. The properties are in excellent condition and pretty fool proof. Although it might be time consuming and create more headaches for me, I find the idea quite interesting and feel it would add another string to my bow of property investing if I was to have a go at managing the properties. What I may do is take one out of the hands of the Property Manager and have a go doing one first… once I get my head around that maybe i'll take on the second, and down the track take on the third… this seems like a more logical approach…what do you think?
tuggerI suppose looking at our properties ($380, $370 and $250 per week) we have always had professional tenants and never any dramas with them. The properties are in excellent condition and pretty fool proof. Although it might be time consuming and create more headaches for me, I find the idea quite interesting and feel it would add another string to my bow of property investing if I was to have a go at managing the properties. What I may do is take one out of the hands of the Property Manager and have a go doing one first… once I get my head around that maybe i'll take on the second, and down the track take on the third… this seems like a more logical approach…what do you think?
tuggerThanks for all the great info…when knocking out your own kitchen how much of the plumbing do you have to retain? Can you pretty much go hell for leather with the crowbar as long as you dont damage the plumbing and electrical? cheers
tuggerThanks Aussie…
Would love to have a hand in pulling down or putting up a kitchen but would rather see how its done first time and maybe give it a crack second time around. Cheers
tuggerG'day DeeBee,
its good to see more tassie investors on this website. Lutana has shown some good growth over the years and will continue to grow at a steady rate. We have 3 IP's and the Quantitative Survey is well worth the $660 it costs to have it done per property. With 2 of our IP's this financial year we were able to write off approximately $13,000. BMT are the people to contact for the QS…I think they are based in Melb but they fly down every now and again to do Tassie properties. If you feel cash strapped at any stage you can contact the tax office and fill out the paperwork to receive your annual tax return on a fortnightly basis. From what I know they contact your employer and they change the rate at which you are taxed on the basis of your IP write-offs throughout the year…. depreciation, interest, management fees etc… hope this helps a bittugger
good on ya mick….. thanks for that… we are going to bypass our conveyancer and discuss this issue with the solicitor in charge of the law firm. We still are trying to figure out why exactly they don't want us to advertise and what legal right they have to say this. cheers
tuggeryeah we had it advertised and that it wouldnt be available till after settlement but they demanded we take down all advertising from the internet, shop front, and the papers…..
hang on…the property is vacant… we had spoken to all real estate peope concerned and had been given the go ahead to advertise by the vendor and their solicitor… then the vendor changes her mind… what have we done wrong. 3 IP and never experienced these problems.
