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N@than
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@n-than
Join Date: 2010
Post Count: 241
September 26, 2012 - 3:32 am
I am not a plumber but if it were my house I would turn the hotwater system and water off, disconnect the outlet pipe and plug the outlet from the hotwater system. Then turn your water back on. Once your hot water system is full then check your water meter. If it is still ticking over then you know the leak is not the hot water lines, and possibly just a coincidence – like Joe said small tank maybe?. You would then have it narrowed down to your inlet/main water lines or possibly a leaking tank, which is unlikely if it's not visible.
If on the other hand it has stopped ticking over then you know there is a leak from the disconnected pipe onwards.
I just think it sounds a bit strange with the running out of hot water thing. It would have to be quite a large leak for the hotwater system to not keep up! I think the tank may be too small and there is a leak elsewhere and they have just jumped to conclusions.
Get the tenants to check ALL taps even the ones outside the house (I have alot of issues with the outside ones), and find out the size of the hot water system.
I know this would be a bit difficult not being in the same town.
All the best with it.
N@than
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@n-than
Join Date: 2010
Post Count: 241
September 26, 2012 - 12:38 am
You can still access the equity if that is what you are trying to do?
N@than
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@n-than
Join Date: 2010
Post Count: 241
September 25, 2012 - 3:14 am
Being 'new' to investing you will find that everyone seems to know where the next best spot to invest is. Don't listen to them. I am not saying Darwin isn't a good place to invest as I haven't done any research on it. All I am saying is only take advice from people who have achieved what you want to achieve. They have proven that they know what they are talking about. Most people who give hot tips or advice have no idea and it is easy to get caught up in it all when you are not so sure yourself.
Darwin may be a good place to invest, but look into it yourself, spend a decent amount of time researching.
-Nathan
N@than
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@n-than
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Post Count: 241
September 24, 2012 - 4:31 am
Freckle wrote:
Where's this happening??
In glorious Mount Isa!
N@than
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@n-than
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Post Count: 241
September 24, 2012 - 3:06 am
Should be interesting to see how it unfolds. The smelter here is scheduled to shut down and dismantled by 2016 as it is sitting on a large copper deposit aswell as it being more profitable for them to ship out the concentrate rather than smelting it. But it seems like everything is still full steam ahead. The concentrators are undergoing huge upgrades as well as a new Gas fired power station being constructed in town, also Legend is building a large phosphate plant expected to be completed next year.
There is minimal vacant land and people are sleeping in cars because there is no rentals available. Rent keeps climbing with house prices slowly following behind and it is becoming quite hard to resist.
Obviously things can turn around quite quickly in these types of markets, but no-one has a crystal ball as to when and whether things will be on the up for a little while longer…
-Nathan
N@than
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@n-than
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September 24, 2012 - 2:39 am
Point taken. I know at times I am going 100mph with my blinkers on, perhaps only seeing what I want to see.
Cheers,
– Nathan
N@than
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@n-than
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September 23, 2012 - 7:56 pm
Hi Troy,
Now this is what I was curious about in my first post. I am hearing alot of stories like this but all related to coal mining. I work in copper/lead/zinc and haven't experienced anything to this extent. Whether the commodity prices still have a reasonable profit margin, the business run more efficiently or more demand for these metals I'm not sure. Maybe Its just a matter of time…
-Nathan
N@than
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September 23, 2012 - 7:52 pm
Aaahh I see! Well I do agree with most of what you have said. And yes I am just as much at risk. However I struggle to do nothing 'just in case'. I am still pretty young and the way I see it is if I try my hardest and fail, I will learn a good lesson and still have plenty of time to pick myself up and turn things around.
N@than
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@n-than
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Post Count: 241
September 23, 2012 - 11:18 am
And Christmas presents are Mandatory…
N@than
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@n-than
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September 23, 2012 - 9:51 am
Sorry freckle what do you mean by 'MO'?
N@than
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@n-than
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September 23, 2012 - 5:46 am
Interesting. It is a shame those who had large unrealized gains only to watch them disappear as you were saying above.
-Nathan
N@than
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@n-than
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September 23, 2012 - 4:10 am
Do you think this will be the case more so with towns purely driven by coal mining or do you expect all resources to be affected?
-Nathan
N@than
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@n-than
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September 22, 2012 - 7:49 am
Hi Shimba,
Personally I think it is a great place to invest. Plenty of potential in my opinion. I currently have two properties there and looking to buy a third hopefully before the end of the year.
Where abouts are the units you are looking at?
-Nathan
N@than
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@n-than
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September 22, 2012 - 7:35 am
Hi Mattsta,
I actually loved this original post by ALF1 so I was glad when it came back up in my email notifications! As for interesting things to share… Can't say I do Just trying to pay down the PPOR loan so I can borrow again for my next IP! Hopefully before Christmas fingers crossed! How about yourself?
-Nathan
N@than
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@n-than
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September 21, 2012 - 5:37 am
Hi KG,
Yeah I think that is one of the hardest things to do when you first start out… Trying not to get too emotionally attached to a property or suburb and work purely of the numbers. If it is for an investment that is, if for a place to live then that's a different story.
Hope you find what you're looking for.
-Nathan
N@than
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@n-than
Join Date: 2010
Post Count: 241
September 20, 2012 - 7:24 am
Are you in a high tax bracket? As the depreciation allowances on a new building can be a nice carrot. One thing to look out for in new estates is how many houses are being released at once? If they flood the market it could effect prices (which could be good for you buying), but how many would be immediately put up as a rental? If others are slightly better or cheaper it could be vacant for a little while. Depending on the vacancy rate of the area of course.
– Nathan
N@than
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@n-than
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Post Count: 241
September 20, 2012 - 6:59 am
"Wealth is the transfer of money from the impatient to the patient." – Warren Buffet
N@than
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@n-than
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Post Count: 241
September 20, 2012 - 6:57 am
I agree Mattsta, Really basic financial education should be a mandatory subject throughout school. I think being able to master delayed gratification is the biggest thing. These days you have credit cards shoved down your throat and most people don't know how to budget and see it as a ticket to have the biggest and best toys available at the time. If the government spent some money teaching it in the schools we probably wouldn't be in the situation we are in today. Maybe
That's just my opinion anyway!
-Nathan
N@than
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@n-than
Join Date: 2010
Post Count: 241
September 18, 2012 - 9:30 am
I didn't realize Jamie had already commented on your post. Send him an email or give him a call and he will make sure all your loans are structured correctly for moving forward. He's a great mortgage broker.
-Nathan
N@than
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@n-than
Join Date: 2010
Post Count: 241
September 18, 2012 - 9:27 am
Well you have definitely come to the right place! Everyone on here is more than helpful! Best advice I can give is to educate yourself. All this can be done without going to expensive seminars and stuff like that. There are plenty of good books out there, you will find a few lists if you do a forum search of good books, also grab a copy or subscribe to one of the main property investor magazines.
-Nathan