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Sounds like a generous offer to me !!
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“Don’t be afraid to take a big step if one is indicated.
You can’t cross a chasm in two small jumps”. — David Lloyd George.
=========================CGU do a combined building insurance and landlord’s insurance.
Barclay MIS seems to offer the best stand-alone Landlord’s Insurance, I just put my latest IP with them.
Terri Scheers (AON) are hard to get compensation out of for anything except rent default, and even then you wait 6 months.
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“Don’t be afraid to take a big step if one is indicated.
You can’t cross a chasm in two small jumps”. — David Lloyd George.
=========================A crappy house can be a noose around the neck in terms of maintenance costs and vacant periods between tenants. Pick a radius from the city (say 10 or 15km) and look for an attractive low maintenance brick house. If it’s less than 20 years old you can also get the tax benefit of special building write-down (2.5% of construction cost is deductible each year for 40 years from the date of construction). The suburbs in Logan Shire near the railway (eg. Woodridge, Kingston, etc) are considered to be undervalued.
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“Don’t be afraid to take a big step if one is indicated.
You can’t cross a chasm in two small jumps”. — David Lloyd George.
=========================You won’t go wrong in Brighton, as the nearby suburbs of Sandgate and Shorncliffe have taken off. All of the northern bayside suburbs are soaring, and Brighton has lagged a little behind. We built last year in Sandgate, and have gained about 45% in value already.
Look into Nundah in Brisbane’s inner north. It has big potential.
“Don’t be afraid to take a big step if one is indicated.
You can’t cross a chasm in two small jumps”. — David Lloyd George.Hi Gillian,
I own an old house on a large block in Perth’s inner suburbs. Due to the zoning (R20) I can’t develop it in its own right, but if combined with one of the adjoining properties it would create a triplex site. I recently looked into purchasing the neighbour’s property to do the development, but the total cost on a go-it-alone basis put me just outside the bank’s criteria for capitalising interest (i.e. to avoid interest payments while there is no income from the property). The neighbours are extremely keen to sell, so if you are interested in being a partner in a triplex development, please let me know and I’ll provide the details.
Cheers,
The BaysiderHi Robert,
Two suggestions.
1. Try East Victoria Park for inner city (6 km from city centre). You’ll find some old houses on big old 800 sq.m lots there for around $200k. The area has been a sleeper (alot of state housing) but is just starting to move (up 21% in the last 12 months). Surrounding suburbs are already $300k plus. Most of the suburb is walking distance to Curtin University and the Technology Park.
2. Look at the new suburbs popping up along the freeway south. This area was virtually all bushland until recent years and is now going ahead. Its likely they will run the railway south down the middle of the freeway as they did to the north, so this will push values up.
Cheers,
The Baysider
