Hi Fish,

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]

Hi Corinne,

I use John Oliver at Solutions to Business. He’s very approachable and helpful: [email protected]

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]

Have a look at Ripehouse.com too

Land tax is payable on rental properties whether or not you are in Australia (except in NT). The rules differ from state to state though so get some professional advice in the state you want to invest.

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]

Which state are you in? In Tasmania the situation is that if the standard form contract was used then the builder would not be entitled to charge any penalty interest for a simple 2 or 3 week delay, but would be entitled to charge you for any losses he’s actually incurred. Therefore if he’s incurred interest costs to his bank in the amount of…[Read more]

Hey @paddytaskunas

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.

Hi Nicnacvb,

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.

Hi guys, I’m in Hobart. Ernest, Mauricio, what are you guys up to? What sort of investing are you doing?

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.

Thanks Corey,

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.

You have a number of rights and guarantees as a consumer. If a product simply doesn’t do its job then you should be entitled to a refund/replacement. The ACCC publishes a fair bit of useful info:

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]

I’ll just add to this Mick, as you’re starting out do some reading to inform yourself. There should be a post somewhere on here about good books to start with. There are a lot of spruikers selling courses or access to positively geared property etc. Don’t pay for that sort of thing. I’ve heard of good training programs too – Steve McKnight, Rick…[Read more]

That’s true DT not much capital growth in Tassie. Manufactured growth and cashflow are possible but the jobs market and stagnant population doesn’t create much capital growth. Is it any better in outback Vic or NSW?

Mick I’m in Tassie, send me a PM if you want to talk about this area

Thanks heaps to everyone for the responses, those are some really helpful answers.

@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?

Hey mate,

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]

@Phil44 thanks, I’ll send you a PM now, would love a copy of the ebook.

@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.

Thanks @PaulDobson that’s very helpful. Sounds like some very serious developments regarding lease options so I will have a closer look at vendor finance. Do you buy/sell via VF yourself? It sounds like your organisation does a lot of advising in relation to it?