Hi Zebrax, I live and work in Forest Lake. Honestly depending on where the termite damage is I would possibly walk away. I have purchased my own home in Forest Lake. My house did have previous termite damage HOWEVER it was outside in a small plank of wood in the very small retaining wall. So I continued to buy it. Having said that, I have seen…[Read more]

Hi Orica,There may be more spending with a townhouse as you will have Body Corporate fees, so find out what they are (quarterly) and make sure they are in on the budget you have set up. A townhouse/unit has rates, maintenance and Body Corporate Levies whilst a house only has Rates and Maintenance (virtually). So just make sure that you take that…[Read more]

Hi again Helena Stay away from NRMA and AAMI – both I have had bad experinces with for my owners trying to claim on them. Suncorp was good. Terri Scheer is one of the best, but I am pretty sure that you need an agent to get into them… CGU I think also does it. And yes, even if you do have an agent GET LANDLORD INSURANCE!!! Make sure it covers…[Read more]

DWolfe – sorry I only just logged back in. Honestly, look at becomming a member of Tenancies Information Centre of Australia (TICA) this is the blacklist for tenants australia & New Zealand wide.  Go to http://www.tica.com.au it has a yearly fee associated with it, but if you know a few other investors, you could all chip in or just claim it all on y…[Read more]

Hi Helena,What part of Australia are you in? If you are in qld, the RTA can also help out with that http://www.rta.qld.gov.au or 1300 366 311,  they help tenants, landlords and agents in regards to legislation and also have the median rents arounf Brisbane (they are slightly off in some places, but there abouts. Best way is to possibly either look on r…[Read more]

In Qld, the new act came into play April 1st, 2009 it states that:If the property is 3 star wells water efficient (by a plumber, providing a compliancy certificate) then the tenant can pay FULL water consumption, around Brisbane it costs about $200-$400 (depending on how big your property is etc) and this is a one off payment. If the property is…[Read more]

Thanks for your stories guys, I know that time isn't the essence, it's just ensuring that all your ducks are all lined up before jumping in. So you have all had banks complete valuations on your properties? Has anyone had a bank come back with overpriced properties? I'm concerned as when I speak to the sales agents in regards to my property they…[Read more]

I watch all those ACA horror stories… I'm waiting for the day where they have a horror story, but then says "These landlords are not out of pocket as they had landlord insurance!" hahaha. If only.. Then it wouldn't be a story.I am a property manager myself, so I probably would look at managing my own IP when I finally buy one… But it wouldn't…[Read more]

Yes, I believe not having a good property manager is a great one that some landlords do go through. I can't count the amount of properties I have had come to me that need a Property Manager that can actually do their job! This is why what you need to do is ask your Property Manager to take photos at the property and send to you if your not local…[Read more]