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Yes I agree, the pictures could be done better, they were taken late in the evening. Getting new pictures today. We do have curtains in the front room but don't think the pictures show them properly.
amaljaya wrote:According the SQM Research vacancy rate in the area is 0.5%. This is extremely low vacancy rate compare to some other areas and it's amazing you cannot get a tenant. Seems like the data in these web sites are questionable. This scares me to buy in area with high vacancy rates.Yes I wouldn’t trust these figures that much. There are lots of houses currently in dandy nth for rent. I think there is a lag in these figures.
Thank you all for your valuable information.
I am getting the fence done and the boggy front garden fixed, with some top soil and grass seeds. For someone looking in from out the front street, the house will look much more inviting.I will also show up at the open house times and get my sister to do some mystery shopping on the agent. Will also get the ad fixed with the inspection times, pets considered, family friendly yard and some new pictures when the fence and yard are done.
With the parking, I don’t have a garage or car port, just secured parking behind a locked gate in the side of the house. Will keep you informed on my progress.
No dishwasher or AC. Yes that is true, a secure front yard would appeal to families with children. Pets are fine. The agent has the open houses scheduled for Thursdays and Saturdays around mid-day. He keeps telling me that no one turned up for inspections. Not sure if hes actually there for them!
I’m currently with Bank West for my ppor, and ING bank for my IP. Not sure how flexible they are with getting a split setup for my IP. We have already been approved for the NAB package, so the serviceability is not an issue.
Thanks Terry for your unbiased and honest opinions. I have been to two separate mortgage brokers. The 1st one, suggested I refinance and move to the ANZ package, and pay LMI at the time. And the latest broker is suggesting refinancing and moving to the NAB package. From a brokers point of view, I guess its much easier and better for them to write a loan for 1mil compared to stuffing around with splits. Thanks again Terry I really do appreciate it. Now I know whats available.
Regards.
Thanks Terry for that info, I did not know about splitting loans. So how does one go about setting up a split? Get the new valuation report, and tell the bank that hey the house is now worth more, so I want to keep the existing loan, and the get the rest as a split upto 80% of the value of the new valuation? Can I keep my existing loan and ask another lender to give me the "split loan" part?
From what I understand, the difference between refinancing and splitting is that is when I refinance I get a whole new loan upto the new 80% valuations of the house. Where as with splitting, I keep the existing loan and get a new split based on my new valuations with the same lender or different lender? Am I on the right track?
Regards
Maybe I wasn't clear,
My IPs outstanding loan balance is 230k, and via the broker it got it revalued at 370k and my PPOR has loan balance of 437k and got valued at 560k. So together if I refinance I will have access to equity of about 64k (without paying LMI). I cant set up a split can I, when I don't have access to that equity in my loan accounts yet? With this in mind, does my original structure still hold true?With the NAB package my broker was saying that they charge $10 per month per loan account. So thats why I was interested in the total number of loan accounts. I had a look at the choice package, and no my broker hasnt told me about that. It does look better than the portfolio package.
Thanks guys, yes I wouldn't mind another opinion. It just that refinancing takes time, and this broker has got the new valuations from the independent valuers already.
Cheers.
Hi Timothy
Have a look at http://www.domain.com.au/
They have a suburb profile section from the main menu tabs. You can access the median price info from there.Originally posted by r@50:im about to settle on a few regional properties and need to look into landlord insurance.
how much do they typically cost pa.
cheers
markIt really depends on the location of the property, and the what kind of locks/alarms are fitted in your property. For my investment property in the Northern suburbs in melbourne, I haven’t been anything for less than $350, including tennant rent default/theft. So thats why I though the tica deal for $225 was pretty good.
ING also offers a good deal, but for around $350(prices will differ for your property). Their conditions are pretty good too.
