Same idea as the South Australians – swap ideas, tips, places etc…
Hi Ernest, don’t live there anymore but still invest there.
Hi Ernest, i am in hobart
Hi guys, I’m in Hobart. Ernest, Mauricio, what are you guys up to? What sort of investing are you doing?
I bought in Chigwell last year, renovated and renting it now. Looking for a similar place at the moment. I’m a property/commercial lawyer too so always happy to talk about the legal side of things too.
Anyone able to recommend a good accountant in Hobart, and while we are at it, a buyers agent?
This is my first investment property and feeling like I’m forced to go it alone with all the sharks I’ve encountered so far!Hi Corrine
Are you looking for a Buyers Agent in Tas ?
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Corinne,
I use John Oliver at Solutions to Business. He’s very approachable and helpful: [email protected]
I’m a lawyer down here so can help you with that side of things if you like.
I haven’t used a buyers agent myself but some of my clients have used Rob Zubin at My Property Hunter. They were very happy with him and I think he charged a fixed fee of about $6k: http://www.mypropertyhunter.com.au/who-we-are/real-estate-Tasmania-Hobart-Launceston-buyers-agent.html
If anyone’s interested there’s a Meetup at Customs House in Hobart on 17 Feb. I’m not organising it, haven’t been involved with this group before but just stumbled across it the other day: http://www.meetup.com/Hobart-Property-Investors-Group/events/228604887/
Cheers.
Hi JBC,
My wife and I are looking at relocating into either Launceston or Hobart either later this year or early next year. We will be looking at purchasing shortly. I noticed you are a legal eagle and perhaps you can answer a couple of questions for me.
1. I have noticed that there is no cooling off period in Tas unlike QLD. Do the same T & C’s like building inspection, finance approval, pest inspection etc,etc. apply?
2. What other little Tassie secrets do I need to know before entering into a contract ?
A heads up would be greatly appreciated.
Hi Fish,
That’s correct, no cooling off period in Tas which does catch some people out.
There is a standard Law Society/REIT contract which most people use here. There is provision in that to make the contract subject to finance, subject to building inspection etc. If you have special conditions eg pest inspection you can draft them into it as well, but unless you’re confident of your legal drafting skills don’t do it yourself, and don’t let the agent do it for you either.
But be warned there are some agents getting around Hobart (and probably Launceston too) who have been taking the standard contract (with its Law Society endorsement all over it) and rewording parts of it (eg to water down the building inspection clause). Most purchasers rightly assume that the Law Society emblems on the contract mean it is the standard contract and they are protected. However the agents deliberately reword the contract to make it harder for the purchasers to get out of it if they discover a problem with the property during their building inspection.
If you have any doubts I’d suggest sending the contract to me or another lawyer before you sign it. If it’s all in order it will only take us 5 mins or so to confirm this. If there are problems it may need to be redrafted but that’s all the more reason not to sign it without legal advice.
Aside from that I’d suggest getting to know your areas rather than rushing in to buy. There are some nuances to Tassie markets and some mainlanders get lured into various Tassie suburbs that are “only a short commute” by mainland standards, but actually backwaters with no capital growth potential and that don’t appeal to renters.
I’ve used ripehouse.com.au which provides some really valuable insights about where to buy. You’d have to pay for a monthly membership ($97 I think) but it’s definitely worth it when it can make the difference between buying in a market that’s poised for growth versus one which will be stagnant for the next decade.
Let me know if you need any more assistance and I can provide a phone number if you want to have a chat at any point.
Thanks JBC.
Some really good info there. Have already been down and checked out Hobart, and will be down to look over Launceston in a couple of weeks. We have been flipping houses on and off up here in QLD for about 15 years. Has been a nice little supplementary income, but work is taking me south. At this stage Launceston seems likely, although I rather Hobart for investment potential, as it seems the north of the state has been suffering economically for a few years.
Again thanks for your advice and yes I may need to employ your services in the near future.
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