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I found NRMA building insurance about 50% cheaper than anything else. I pick $1000 exess, which brought me to around $200 per house per year.
Land Lord Protection Insurance is baaaad from NRMA, but I found thay all are…
The most decent are AON and Barclays.Sorry Jaffasoft, and Thecrest.
I think I found better and cheeper way to deal with accomodation.
If you wish to invest in area – buy one house first, than you can stay there for free, while you buying the rest of them!
[biggrin]
CheesSorry, my mistake.
I am investing in US properties and want to find likeminded people to share information about financial, legal and other differences from OZ investments.
High rent return is possible to find in US, but investors should be aware about danger of buying lemons. Prices of properties around city could be as low as $500, but, apart from repaires, you’ll never get tenants there. And if you will, they are most likely wouldn’t pay and demolish your property. There is no Land Lord Protection Insurance there…
And not every house could be insured with normal insurance either…
Finances is another problem. Most investors using cash from Australian equity. Standard minimal loan in US is $25000. House prices could be lower than $20000…
Application fees for loan is around $4000-5000, and you can’t put more than one property on one loan. Dufficult, ah?
I am trying to find the way around it. I know that some people are using finances already.
Any comments?
