thanks for responses, think we will go ahead with it, we also like the idea of the “invested” money in the offset account being available at anytime, compared with a long term interest account.
cheers,
rusty[biggrin]

hi there TEACHERK6,
i know the coating u are talking about, i believe it to be sprayed on with a “chopper” gun, don’t know if it would contain asbestos or similar though, however in regards to sealing and leaving it, i have painted a few very old crumbly houses in Quorn in country SA and we used a product called surface binder to ‘glue’ the…[Read more]

thanks for the info dudes!
cheers,
rusty[biggrin]

Glenyskimber,
how did u go with the morgage advisors advice, did u end up getting finance, or are u still looking for a lease option??
rusty
[biggrin]

thanks DD, but now I have another question, can I live in SA and have a wrap or lease with a contract for a property located interstate?
maybe use a conveyencer in that particular state??? let me guess, the rule applies to which state the vendor is living in????
rusty

hi there Mel,
i don’t supose i could ask u for some more details about lease options in SA, as i don’t quite understand the bit about the instalment contract being illegal, don’t u need an initial contract to get the whole deal underway?
any further information u could supply would be appreciated.
cheers,
rusty[biggrin]

hi pramen,
i have searched on the internets real estate sites for hours some days, then the next day i have found one within 10 minutes.so far we have been in the right place at the right time and located two IPs that didn’t go through a real estate agent (in country area). maybe widen search further away?
all of the properties that we have looked…[Read more]

I guess that one problem with investing in country areas is that we are limited to the few PMs and the fact that there isnt enough competition to force them to have to be cheaper

hi yack,
my thoughts….no, no and no!
I am a licenced painter(although i now make cars for a living), anyway, i have worked for myself and 4 painting contractors and i think that it is a releatively simple task, yet some of the paint jobs that i have seen both housing trust tenants and house owners (and some of the “painters” that i have worked…[Read more]

hi jo,
we have one IP ex-housing trust home and another on the way (not sure of the sex,he he) they are both in country SA and from my experience (i used to paint housing trust homes) i would definetly want to find out about the area from a local as, with every town, there are good and bad areas and some of the areas that i have worked in, i…[Read more]

good idea, just a thought, who pays the lost rent/ loan repayments while reno is being done?

nah, as long as their rent isn’t going up, i rekon they’ll get over it, i think more likely to upset current PM.[biggrin]
our PM sent us a letter last week to say they had done thier inspection and found that the laundry drain is blocked and our gardener is mowing the lawns too short, we had previously agreed that any maintanance (up to $200)…[Read more]

[biggrin]heya!
thanks for the info i don’t feel so bad now.
does anyone know if Steve has PM on all of his properties or just some?
cheers,
rusty

thanks Jo,
we are just about to add another ip in the same town, so hopefully this may give us some leverage to bargain for a better rate.
cheers,
rusty

[builder]hello, how are u all?
I make cars on the production line
regards rusty