Forum Replies Created
Don & Liz have some wise words of wisdom IMHO.
I’m with you guys. I will also be out pounding the pavement looking for bargains and putting in some low offers to slowly build up my portfolio.
We should be well placed and ready to take best advantage of the next boom.I believe with a little imagination, and an inexpensive makeover, you can create a +CF property in a regional city. There’s been examples of this on the forum in the past 12mths,
so no need to sit on our hands, lets have some fun[biggrin]
Regards,Sharon
Hi GeoffB,
My understanding is that the government is referring to hard-wired smoke alarms. That is – the smoke alarm is wired into the electrical circuit of the house, and has a battery backup incase the power goes off.These are much more reliable than the $10 – $20 battery only models. I recently had a hard-wired one installed for just over $100. Still an excellent investment at that price.
Regards,
Sharon
Hi Mortgage Advisor,
Here’s some positive things about Tassie:
Magnificent scenery.
Incredible old growth forests.
Slower paced lifestye.
Community spirit.
Healthy tourism industry.
Nice people.
Destination of the classic Sydney to Hobart yacht race.
Historical sites.
AFL
Local markets.
Monthly country & western concerts.
Melbourne comedy festival roadshow.
Cradle Mountain nation equine endurance championship.
Antartic Tasmania midwinter festival.
Jazz fesitvals/art exhibitions/musical recitals.
Performances by Delta Goodrem/Aust Youth Orchestra/and many others.I would think that Tazzie has a lot to offer those who want to live there more than the short-term.
I live in NSW now, but thoroughly enjoyed the 2 years I lived in Hobart. I left for family reasons, not because I was bored.
Hi Janetbianka,
Follow your dreams. I think you have plenty of time to wait and see if prices go down further or alternatively if you have researched and are confident/keen of purchasing now, put in those low offers.Tasmania has traditionaly lagged behind the other states in property values, but buy in a good area, at a low price, maybe renovate to add value (for Capital gain & for increased rental), and you should do quite well over the long term.
However, Decreasing population, if that is the case, should be a big concern as there may not be a demand for rental properties.
Make sure you do heaps of research (due diligence)as mentioned earlier about employment prospects in the area you want to purchase. Don’t rely on one industry to provide employment, such as a mine. It may close, the town dies, and your left with a house you can’t rent or sell. [blink]
I think it’s a bit frustrating at the moment in many areas as we wait to see if prices are still going down or stabilising. My suggestion would be to take your time.
Regards,Sharon
Hi freestone/boatie,
Here are a couple of websites that might help…
http://www.dynamicduoinvestments.com
http://www.renos.com.au
Happy renovating[biggrin]
Regards,Sharon
Can anyone tell me if it is common in NSW for REA’s to charge for Inspection Reports/Vacating Reports?
My NSW PM is happy with 6.5% commission, and has never charged a fee for these reports.[biggrin]
I’m guessing it varies state to state.Would be interested to find out if there is a governing body in NSW that regulates these types of fees, or is it left up to the individual REA?
Regards,Sharon
Hi Marisa,
I have a friend (no, not me[biggrin]) who had a tenant who was always behind in rent.
After months and months of following all legal channels she was completely frustrated.
She visited the property once again to ask for rent but of course the usual excuses were offered.
As she left the property (driving a borrowed ute), she ‘accidently’ ran over the water metre. A plumber arrived quickly to plug the leak[biggrin], but she had to explain to the tenant that she couldn’t afford the cost of a new water metre to have the water supply reconnected [worried]
…the tenant moved out in 2 days.Of course I wouldn’t suggest for a moment that you should do such a thing on purpose, but in this case it was a ‘fortunate accident’
Regards,Sharon
Hi Sparticus,
I have sent you a PM with a Questionaire for Property Managers. Hope it helps [biggrin]
Regards,Sharon
Hi Don & Liz,
Yes, utilities/cleaning of common areas/lawn mowing etc, would be covered in their room rent. [biggrin]
Regards,Sharon
Thanks all, for your replys.
I wasn’t actually referring to my situation as I know I am already priced at what the market will bear in my area, taking into consideration the competition (similar vacant houses).[thumbsup2]I have seen rents rise as a matter of course following interest rate rises in the past, however this was in a semi-rural residential area and may have been controlled more by the 2 managing agents in the area than by supply and demand. Tenants were so conditioned that they knew any rise in interest rates automatically meant a rise in rent [blush2]
Obviously from everyones comments it is clear that this is not a widespread practice. Perhaps if a tenant had made a complaint, the REA’s involved would have come under scruntiny from the powers that be [cop]
Strange goings on in the bush![surprised]
Regards,Sharon
My first thought would be:
Is the population increasing or is it declining. (Part of your research as Monopoly suggested)
So many small regional towns have a declining population… not too good for rental prospects[blush2]
Regards,Sharon
I haven’t heard of the 1a, 1b, but in my Council area you are allowed up to 6 brms. 7brms and upwards is classed as a boarding house and must comply with strict council regulations.
Maybe there are different regulations depending on where you are. [confused2]
If anyone is contemplating purchasing a boarding house, please check the cost of insurance first. I have heard it can be as high as $10,000 p.a.
due to the backpackers/boarding house fires in recent years. [sad3]
Regards,Sharon
Hi Zippys,
You’re not the one looking like an idiot[biggrin]
I think Brahms is referring to Derivex when he/she types ‘D’. Who knows, except Brahms.[confused2]
Brahms posts are usually cryptic, critical, or just plain crap. [thumbsdownanim
I really don’t know why he/she bothers.
Regards,Sharon
Hi PurpleKiss,
You may have lost a ‘tooth’ off the winding mechanism, or there may be something stuck in the winding mechanism.If you can pull the top portion apart (you might have to remove it from the window first), have a look for foreign objects or broken bits around the top of the ‘twist control open/close rod’.
Other than that I would suggest you ring up one of the retailers who specialise in window coverings and have a chat with them, they might be able to shed some light on the problem.
It may also be a fault with a certain batch that were manufactured, in which case you should be able to get a replacement.
Regards,Sharon
Hi Inness,
This happened to me too, a couple of years ago.
The IP I was purchasing was occupied by the ‘tenants from hell’. They hadn’t paid rent for 6 mths or more, and had pretty much trashed the place. That was why it was being sold. The owner had just given up.[blush2]
No one else wanted it, mainly because it was hard to get past the stench that hit you at the front door, but it looked like a great buy to me [blink]… with new carpet & a paint job it came up looking like new (well nearly). And the smell went to the tip with the old carpet!
Anyway the point is, the vacant possession clause was in my contract (the neighbours were cheering) and the rest was left up to the vendor.
The tenants of course refused to move out, so the Sherrif was called in (NSW). Everything was tossed out (not sure where it went to) and the locks were changed. It all happened before the due date, so I had no problems at all.
I don’t have any knowledge of the process to engage the Sheriff, but it is the vendors responsibility anyway, so you shouldn’t have any dramas [thumbsup2]
Hope it all goes well for you, happy renovating!
Regards,Sharon
Thanks everyone for your input, it’s very much appreciated [biggrin]
Hi Padmaa,
Yes I agree, I have missed the mark as far as timing goes for this year.Hopefully I will be able to get one organised and ready for December/Jan when the first round of accommodation offers goes out.
Also thanks for the tip about making up a brochure for the uni, professional approach would give a great first impression.
Hi TokyoJoe,
I guess students would be noisy from time to time, or frequently if there is a group of them [guitar] Might have to think about adding a condition to the lease – no noise between 11pm & 6am. Thanks TJHi Feast,
I too have heard that Japanese students are tops, [thumbsup2] thanks for reminding me.
My sister-in-law in Cairns hosts students from all over the world, and says Japanese students are by far the cleanest, most grateful, and most respectful.Yep, I’ll do as you suggest and roll rent, bills, and cleaning all into the one price. Less hassle, thanks.
Can’t wait to get started!
Regards,Sharon
Thanks Clark, Padmaa, & Mortgage Hunter
for sharing your experiences, that’s very encouraging. [biggrin]As far as I know (hearsay) student accommodation is in high demand but will check this out directly with the uni.
So far it looks like the way to go.
Thanks again…
any more experiences/suggestions/advice etc?Regards,
Sharon
Hi CV2005,
Welcome to Australia, and welcome to the forum.[biggrin]
Here is a link to an online positive cash flow calculator which may be helpful…
http://www.ozwebsoft.com/sniffer.html
All the best,
Regards,Sharon
A friend of mine lives in a share house and loves it.
She enjoys the social interaction with people of different backgrounds, but can still retreat to her own space when she wants to.
She says it is a great alternative to the high cost of renting a place of her own.
From what I have seen, it works well and there is a demand for this type of accommodation. (Empty rooms are filled quickly).
Also a great way to boost +CF, rather than renting the house out as a whole to one person or family.
Your strategy makes sense to me! [thumbsup2]
Regards,Sharon
Me again, just found some Goss on Perth for you…
https://www.propertyinvesting.com/forum/topic/9746.html?SearchTerms=perth
Regards,Sharon
Hi Feast,
In answer to Q #3.
Here’s the Goss on books…[biggrin]
https://www.propertyinvesting.com/forum/topic/6845.html?SearchTerms=recommended,books
Regards,Sharon
