I'm with EBM Insurance for my strata units. The price is $330pa each property (up to $999pw rent). Anything over $1000pw goes sky high. Just did a claim last year for $20K damage to my apartment. They paid out $14,000 + I got to keep the rental bond of $3,800. They paid for new blinds in one room that were scratched. No hassle at all with them.…[Read more]

We are planning to buy our 13 IP in Sydney, but live in Qld (Bloody cheap to rent up here). Travel to Sydney all the time, will join in too. It's only a 1 hr flight from Gold Coast.

Thanks pgb, I will get my broker onto it. BTW – who's your broker? Would you mind sending me his details?

I just re-read your post and noticed it was a new purchase, not a refi with ANZ, is that correct?

But is this a low doc?

Ryan – I gave them NO evidence at all of my income, except signed a stat decl that I can afford to make the payments. I Borrowed under my Disct Trust.   But I do have a history with the Rams guy/office —- I  got knocked back last year (not by Rams) by LMI Insurer for Rams as I did not disclose some of my other properties. They (LMI In…[Read more]

thanks pgb, I just settled yesterday on a refi with Rams on a low doc 6.04%( +0.25% RBA recent interest rate rise), $10K cash out. No tax returns, in fact nothing but verify I can afford the loan. Just out of interest what's ANZ offering now?

I have always had problems with RAMS valuations. That's the downfall with them, however atleast they are still doing Low-doc loans.

I would hate to be the relative or maybe soon a far distant one.

I had the same situation — half way through the lease they asked if they could have a dog. I thought no problems, but then they had a cat and another dog 2 mths later. Then they asked if I could pay for a gate which the tenant would put up. Costs me $480 (bunnings special) and they put it up. They did a great job. They told me that the pets are…[Read more]

thank u very much for your help.

Yep, drop the rent. You could say that you were just lucky with the $390pw that you were getting. I had a property rented out in Sydney for $1,000pw for 2 years. After they moved out, I thought and so did all the r/e agents the rental boom was on so we put up for  $1,200pw, after 3 months of it being vacant I ended up renting it for $900pw. Da…[Read more]

Sounds like this is a Body Corporate matter and the tenant should forward the complaint to them. If I read this correctly, it was the body corporate who ordered the work – correct? If so, then it has nothing to do with you. It happens all the time when a new building is being built next to an existing building. And the complaint has come after all…[Read more]

How long has it been actually vacant for now? I read confusing information with your post.

Yes ofcourse we can only have 1 PPOR. I just found out that my partner was living in her place for only 10 mths (not 12mths) before she moved out and moved in with me. Is this a problem if it's not a full12 mths of living in her PPOR?

I'm of a different opinion. Do all your sums $$$ first. I have been an investor for over 25 years (12 IP) and have always lived in my investment properties but for the past 3 years I have been renting. I now live in a waterfont home worth (when I moved in) approx $1mil and I pay $510pw. Since the GFC it's now worth approx $890K. If I purchased t…[Read more]

flat fee of $330 per property – residential unit. Houses are different though.

I had a painter go in and completely repaint the whole place. Insurance won't pay for the complete re-paint, they will only pay for the damage caused. Remember, they paid me $18,550 from a $20,000 claim. They paid me  2 weeks rent loss of $1900 for the time it took to fix it up. Not bad at all. And the best thing was that the whole place got a mi…[Read more]

I advertised mine at first $430pw thinking it will be snapped up, but then reduced it to $425 then $420. I should of dropped the price allot sooner. You may find advertising at $295pw it may get snapped up. The NRAS, in my opinion is more directed to very low income earners. Persons your Agent would probably not rent to anyways.  

My previous tenant was paying me $425pw and guess what —- they bought there own house because of the Govt doubling the FHOG. I'm now getting $420pw. I think allot of young renters bought there own places leaving a huge gap in the rental market. However, my properties in NSW are renting back to back and increasing 5-10% each time. No such luck…[Read more]