Hi steve,[]
Tom T from some of your earlier sessions.
what you said is correct, they obviously did not appreciate how difficult it can be sometimes when you set out to buy a property.

AS an example i have just posted an item on the site about Hamiltion Island properties for sale which at first site seem like a great return and long term investment. The reality is that once you have analysied the deal and looked at all the real costs and returns plus the downsides, the deal becomes very ordinary and not worth it.
the only person making out in the deal is the vendor.
as you pointed out on various occassions it is all in the deal and the negotiations as to what you get in the deal and how good that becomes
the harder you push and the more creative you are the better the deal and the better the cash at the end
nice to read and speak to you all again
regards
Tom T

Dear Josh,
let me make a couple of comments about the Hobart market.
1.the only areas in Hobart experiencing growth are Battery Point, Sand Bay, and the areas immediately around the University.
2. None of the other suburbs of Hobart have experienced much growth besides the above mentioned.
I own/or part own with my ex wife ( still working out the property settlement) several properties which I renovated in 1992. the properties rose in value after the renovations and were valued in 1994 after which the economy stagnated in Hobart, and in fact the properties fell back in value. I have just had the properties revalued and they are at exactly the same value as what they were in 1992. Yes they have risen in value by about 15% over the last 18months but that has only brought them back into line from where they started.
Properties outside of Hobart do not rise unless you value add to them, in which case they increase by about the amount you invest into them via sweat and money.
Capital gain is rarely seen like on the mainland.
3. You have made no mention of Body Corporate fees and charges which are normally made on a quarterly basis.
4. Insurance and maintenance should be about $500 minimum for maintenance and approx $160 for insurance.
5. You mentioned it was 8 minutes from the Hobart CBD, what suburb??
location is critical for rentability in Hobart.
Just to let you know, I have rented conjoined 2 bedroom 1890 vintage single storey terrace houses in North Hobart for $160 a week in 1992 up until 1997 when the rents fell and we could only get $140 week.
The location was on the border with the CBD.
in Hobart location is of prime importance.
If you can find a property within walking distance of the University grab it with open arms and rent it to the university