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Our tenants are moving out next week. The house was broken into and they don't feel safe so are leaving. A big shame as they were unusually good for the area. I've decided to approach some local REAs again to see if any are willing to manage our property with the view of putting it up for...

Sure there are some areas that are a bit better than others but I would avoid the entire region at present and focus on buying in a metro area instead. The high speed train won't be built for a very long time, if ever. Certainly not in the next 20 years IMO

Good luck with the sale. Seems like it's difficult to sell in the current market though

I wonder if he can get me that much for our IP :p

Yes. I was advised by the manager of my PM's REA that we'd need to take a ~20k loss if we wanted to sell within a reasonable time frame. I have no idea what the actual value is now - I'm too scared to check! :p Edit: According to onthehouse.com.au, the value is between 150 - 170k. We paid 155k.

I hope so but hope isn't really an investment strategy. :p Not much else we can do though unless you'd be happy to sell at a likely loss. That's good to hear. Did you do any work to it over this time?

What does that involve? I did think that maybe they just said that as a "polite" response because they weren't interested in buying it or were looking at buying elsewhere.

It probably is a bit greedy after the year we had last year :p

Our Ashmont IP has decent tenants for now (touch wood). They are employed and paying on time which is good. I did offer to sell it to them but they said they are not in a financial position to buy at the moment so I'm holding on to it for the time being. Hoping the rents go back up to 2012-13...

Good decision. Wish I'd made the same one. Not sure what to do from here. We have good tenants now but still feel unsure as the previous tenant cost us so much. Unfortunately selling seems pretty difficult too.