Forum Replies Created
Hi Ryan
That's very true, thanks for the warning. I haven't done this either before and am aiming to do as much research as possible first. It seems that you're up with the research too, so thanks again for taking the time out to respond with great advice.
I'm confident that we should at least come out even on our first try. We want to try a transaction mostly to learn from experience and see how we can improve on subsequent purchases. But really need to work out all costs involved first to see how much extra we need to sell a property for to at least come out even.
So far, it seems the costs are stamp duty, capital gains, interest (but we're aiming to use a deposit bond), and maybe selling costs. But I'm not sure how many of these apply if we on-sell before settlement.
Hi
What a great site. I didn't know you could send PMs but worked out how to do it. (I only signed up yesterday so am still working all this out).I've contacted EBM since my last post last night and should hear something back soon. Their website information seemed pretty good. I didn't realise they were brokers. So do they actually find another insurance company or is a person insured through EBM? I'll check out Lumley and Suncorp too but am tending to lean towards EBM due to a proven history as written by DannyDe (I'm not keen to lose thousands again).
Thanks again to everyone for your posts, I really appreciate the time you've taken to respond.
Thank you both for your responses. EBM sounds great. Gosh, $20,000 damage…It's amazing what tenants can do. I'll definately contact EBM as soon as I finish this email. Sincere thanks again.
