Hi All,

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]

We did contact the Residential Tenancy Commisioner here in Hobart only to be told that they only handle disputes lodged by tenants not owners/landlords.

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]

Erika,

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

Thanks for all your info.

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]

Robo,

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]

Hi Guys,

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

Thanks guys.

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

Rachderick,

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]

Go CGU very comprehensive and also reasonable premiums and allow flexibility with payments.

Matt

Yorker,

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

Matt

Thanks Pelican,

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]

Mortgage Hunter,

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]

Luke,

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]

Da Man,

Two cliche’s come to mind

Quality not quantity.

Due dilligence.

Matt

PenguinJr,

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

Matt

G’Day All,

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]

Yorker,

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]

Monopoly,

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