Forum Replies Created
I had never heard of rent cover until now, I only knew of Terry Shearer, think I got the name right.
At the moment I only have building landlord insurance with AAMI….better take more cover I think
its a bit like places out Penrith….take old Mt Pleasant, nothing pleasnt about it, maybe its the suburbs with MT in it?
ANyway, they did a rename, called the new section Cranebrook, my goodness the houses have gone up, the cost out there…well there are sections, they say sherringham road..there is a cutoff, a point where it is more notorious and a point where it changes to become ‘better’
Blacktown, doonside and mt druitt are similar. Yes I lived in Blacktown too for a spell.
Thjose people are spenders, thats why they build big shopping centres, lots of lower sociao economic people who SPEND.
cheers
Lynn
Didnt the current affair type programs do some comparisons?
you have to decide which bank is suitable yourself and do some running around checking. What is ok for someone else may not be suitable for you and vice versa.
Hi there.
Sorry for your troubles too. Things like this out of the blue happen, we have no control but by golly we learn a lot from it.
If this helps:
I had a daughter 20 who had a little un, my granddaughter. The short version, problems, breakups and other issues, I ended up with the care of my grandchild, my daughter a missing person.I had a mortage, I was nearly forced to sell and didnt. I am glad I didnt because this house rose in value, gave me equity to go on to purchase another and more since.
Yes I struggled, went without, did what most wouldnt dream of doing. I am single ona single wage. I supplement things, and my daughter has the advantages. She rents one of my homes, this will be hers anyway one day. So she helps me to help her.
I cant tell you to sell for positive properties, there are many ways to acheive things but I would ask you, is the added pressures of the property market, the time you might spend the money issues etc what you want? Is there something else that can supplement your income?
I dont know, only you can decide this. I admire you wanting to get going, I just remind you of the fact that you have stated family are imporant (and they are) and property can be time consuming, way up the pros and cons
I tend to agree with your accountant. I sold my house when my marriage failed years ago. I had my daughter to care for. Child support was 30 a month, mortgage was a lot lot more.I ended up in the rental trap for the next13 years before I could even think of buying a home. I would never recommend doing that….unless you down grade as already suggested, just so you have some sort of home and this might increase as in capital growth. You might save more this way, and have some spare cash or even just to reduce mortage then start building a buffer in that to then use the equity…
just my thoughts
goodluck
Elves
The prices in that area have increased tremendously, with surounding areas.
It has a bad name, some refer to it as the old mt druitt and the new….there are pockets of good and bad as with most places, eg North as opposed to south for location in some towns, or the TYPE of people that rent in an area.
Dont be fooled or gulliable- that a suburb is based on past bias….is not worth it.
A lot of these places have good sized blocks of land you dont find in newer areas and have the land value if not the house value. But if you are renting and there is a demand in that area, you might not be concerned with the house, but some people say that if your home is done up, it attracts a better ‘class’ of tenent….what ever that means…..
I know people that did well in houses bought in those areas….now sold.
Elves
My sister lived in Palmerston, most of the houses in the area are or were defence personel.
How would someone check out with other landlords aboout a PM when you arent likely to have that contact, or their details because there could be a privacy issue here.
Cheers
Elves
do you keep changing the topic?????[
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I keep losing the thread of itmust have lost it anyway……..
I bought property sight unseen. My stuff is via phone and fax.I didnt even meet my solicitor and it is just second nature to operate in this manner.
Due diligence, conditions in contracts to protect yourself, lots of photos to be sent and good communications.
I bought 3, I passed in three due to bad building reports
Elves
I guess my thougths are:
based on past centrelink interpretations eg borders might include food with their room of lodgingstenants on the other hand paying rent are treated differently
Then again I guess it depends on the terms of the agreement?
Of course if no one is involved with centrelink then there might not be a problem.
You might have problems with cash deals where there is no trail….when it comes to fights arguments and even the best friendships are strained.
I wouldnt expect a border to clean either, does that mean your tenants will share cleaning common areas?
maybe I am totally off track here everyone, but been down this path before and it can get ugly, even with agreements!
cheers
people cannot manage their money, why do you think we have the credit card debts we have?
I didnt elaborate in my first post, but like Chan and others, for me I do all my loans with the one bank manager over the phone, as I buy properties over the phone and fax.
My bank manager knows me and where I am heading. He bent the rules by thinking and acting laterally. All he is interested in doing is making sure I can service the loans at the end of the day.
I qualified ages ago for a professional package and I have to say he advises me along the way, not just taking money. I get a discunted rate. Now this may not appeal to everyone. But having my history with one person, saves me both time, costs and alleviates the dramas of the need to please explains….
When he stops assisting me, and when I reach my limit (if ever) then I will go elsewhere.
Mortgage brokers couldnt help me when I first started, despite property and equity and job income etc etc etc…I see no reason to change, the person that got me the help when all others failed, was this bank manager….if you are onto a good thing, stick with it!
Oh and I never deal with staff, I deal solely with him. Direct lines to his mobile and if he cant answer, he calls me back! (that day)
So consider your options and make your decisions based on your circumstances
Elves
to quote a film…”show me the money” tom cruise was in it.
or equally, put your money where your mouth is…stops em quickly.
this has been in a thread before.
I use the same, makes sense, they got my history, no explanations, easy to do. Just my opinion
one would wonder if they were tenants, lodgers or borders
unfurnished I feel is better
people pinch stuff they dont value it…..arent they a fickle lot?
do we need to worry about what we cant do anything about? they make the decisions….just a thoughtrents near me are $200 to 600 and this is west syd.
My rents in the mts were 210 a week 5 years agoProblem is the rental trap, pay too much rent, cant save, plus most people havent a clue what they spend money on, they say they cant manage.
I tell them dont get your hair done, the nail polish put on, avoid buying lunches, bring your own. Forget coffees and cokes…buy from supermarket if you must and put in a fridge then take to work!
Dont withdraw money, I dont carry cash, that way I dont spend it and forget what it went on. Started friends on that and boy they cleared their credit debts pretty quickly!
My houses rent BTW for $220 a week each
It is hard dealing with agents in toowoomba
I found that most did not respond to my email when I asked about selling, not property management so that was bad enough.I did however find one lady that was very ‘agressive’ but she was in sales and she sold my property when others couldnt. If vacant land counts.
I can give you her name and she might have a PM section.
i guess its not good to have assets in the company name
assets in yours, trusts might be a better optionI agree with points mentioned, but I think take the step, any step has to be in the right direction.
Start out, buy something, and dont stretch your finances so you go belly up..my properties have risen immensley which will help fund more. Im on single income here, so yes it can be done.
Goodluck, try second hadn book stores, library for books, so you arent wasting hard earnt money..
elves
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