We used Suncorp Investor Home and Contents cover, home value of $320,000, cost on insurance was $831.00 which we thought was reasonable. 

We use Suncorp in emerald, only jsut recently insured there and they do cover flood.  I think Westpac was the only other one who will insure in Emerald. 

Fantastic research moxi10.  Makes me feel confident in my investment in Mackay (in my case in Plantation Palms).  I never actually visited Mackay but you have done well to paint such a good picture.  Thanks for that and good luck with your purchase.

Kate, I am really enjoying the course too.  I am also 3 weeks behind due to holidays but am very excited to be part of it.   Love the webinars and the notes are very comprehensive too. 

We invested 7 months ago in Gladstone and happy with our puchase of a townhouse.  Rang up an agent to see what it was worth and ask about the market.  It has gone up probably $50,000 in value so happy with that.   Seems townhouses are the way to go as most of the people moving there are single and not wanting the large garden.  New places are pref…[Read more]

OK, sounds like a trust is the go.  What trusts are people using and what are the advantages or best application of your trust?  Thanks for your advise everyone, I am learning lots. Is a trust always set up by an accountant?  My accountant is quite young and has set up trusts but not many.  Does this matter or do I need an expert? 

Hi Richard, we have not cross collatoralised and have 4 properties at present.  I am surprised that it can be done so quickly.  Friends of mine were told it would take too long and to not bother when they were in the process of buying a property.  I guess we have been waiting to find out more before jumping in.  We don't plan to sell pro…[Read more]

I think the trust will be the way to go for furture purchases but I beleive it takes a while to set up and the cost is a few thousand.  We are actually buying at the moment so don't have the time for the trust..yet.  Would you recommend a trust for us?  We are husband and wife and we want to put together a mulitple property portfolio.  Thanks.

Cert IV in Business, the course is property investing.  

Terryw wrote:
If you have non deductible debt then you should have the offset account on this loan. If you set up a second one on an investment loan you will end up paying more tax.

That is what I thought Terry.  Changing the subject a bit, "the Smart Borrowers Handbook" suggests that Line of Credit Loans can cause problems with…[Read more]

I stayed at Pottsville recently and I noticed that there was a huge number of houses both for sale and also for rent.  I checked the back of API magazine and noticed that the growth in these areas has been ave 3% over the last 5 years which is low.  There is been negative growth over the last quarter. .  Rental yields are pretty poor too.   Perh…[Read more]

I have one offset account where everything goes into and everythign goes out of.   It is working for me but was just wondering if there was any point in having two offset accounts as recommended in a book I read.  Sounds like 1 account is satisfactory so I will stick with the one account.  Thanks everyone. 

I just read in "Smart Borrowing Handbook" about using two accounts and I was wondering if I was missing something. 

I did a free trial and their search engine is fabulous.  I cancelled during the trial period as the cost was too much considering I pretty much know where I want to buy and I was not ready to buy for a while.  They cancelled my ongoing subscription with no cost to me.  Investar would be very useful for someone wanting to build a large portfolio or…[Read more]

Hi Steve, will it be a correspondence course?  Thanks, Janice

I use bankwest.  Rate is 6.85% (no honeymoon) with no annual fee.  At the time I took out the loans there were no application fees and 100% offset account with a minimal monthly fee.  Only problem has been bankwest was slow to process my loans and I was late for settlement two out of two times!  Living in remote WA didn't help. 

Thanks Pinkboy.  I bought in Plantation Palms, happy with this purchase too with all the new development – schook, and shops in the vicinity.  Thanks for your info on Mirani and Marian.  Will pass this onto my friend.  (and wish I had more $$ to spend up on investing but have to wait!).

Pinkboy, I would be interested to see what areas of Mackay you recommend, being a local.  I have a friend buying a house and land package in Mirani.  I was thinking it is a bit far out of town but maybe it is closer to the mines?  What are your thoughts?  Cheers, Janice

I live out Pilbara, hubby is in mining.  From what I can see the mining sector is booming and more and more so each year. As long as the mining keeps going strong then I don't think our economy is going to suffer too badly.  In fact, in WA I find the general feeling is of optomism compared with in NSW (and Sydney) where I am orginally from.  We di…[Read more]

Portfolio PI wrote:

camjanice wrote:
Mmmmm, perhaps I should have bought in Emerald instead of Mackay.  Will have to wait a few months until Mackay is finished then might look at Emerald again. 

Are you building there? Mackay is a little lower rental yields, mainly due to the land supply over the last few years. Your rent will grow in the s…[Read more]