I was going to get my insurance through Western QBE, but was advised to go through Terry Sheer Insurance Brokers to get it cheaper rather than going to QBE direct. It did work out cheaper for us to do it this way.

Remember to read the fine print and best of luck.

CBA (Mortgage adv pack)). Perhaps that is why he said open it in the P&I then, because it is the only portion not fixed that still has an interest component?

Having used the search function, I can’t find the answer to this one;

I want to open an offset account for our IP. It is a split loan. IO = 350k fixed for 3 yrs, P&I = 62k variable. I phoned up my mortgage broker and he said I need to open the offset account against the P&I portion rather than IO. When I phoned the bank they said they would…[Read more]

Hi Dee Dee
Have you read Steve’s article on Negative Gearing.
As I see it the best way to approach negative gearing is to pick an area with strong potential growth otherwise you ahve the potential to go seriously backwards.
To my way of thinking, I would much prefer to do the renos and developements that put money in my pocket in a relatively…[Read more]

Hello again
I would think that you would need council approval for any structural change. Just pose a hypothetical question to them and see what transpires.
Is this place of yours currently +ve cashflow? Using The 11 sec solution it doesn’t look like it based on the info you supplied, it looks more like a Negatively geared property. Unless you…[Read more]

Will have to hunt for the plans among end of year uni papers!
The plan is to keep the place and continue to rent out. Unless it turns out to be a dud, we want to keep it and aquire others to eventually fund our retirement. Would I need council approval for this kind of reno? The council has suggested that they are not reviewing R Codes in the near…[Read more]

Subject to finance too. In WA there is no cooling off period.

Does anyone know if there is a group of investors who get together in Perth? Not regarding hidden agendas, just people into property?

[comp]

Well it just worked out that way because the surroundings have some desirable redeming features which I am confident will increase the property’s value over time and it was reasonably priced. I would have loved something that was the best of both worlds and I look forward to spotting them in the future.
I will outline for you my deal with the…[Read more]

Hi Peter,

I sympathise with you in many ways due to some commonalities between us. I’m at Uni in Perth (1.5 yrs to go) and I’m accumulating a HECS debt. I got interested in investing around your age (4 yrs ago) and watched helplessly as the Perth property boom passed us by, saving in vain for a deposit and also trying to pay off $13k in personal…[Read more]

What’s a tax variation form?

Fantastic! Good luck with your new baby

Hi again Celeste,

I have a feeling you are looking at the area which I just bought a house in. If so then the land area being developed is approx 1km squared of the total suburb which is about 3km squared and is southern coastal.
Plans approved for various beachside residential in progress, new free bus link to connect ammenities (like shopping…[Read more]

Hi Celeste,
I just did the same thing, purchased an old house on a big block that is flanked by a 45 degrees of a new housing estate (with man made lake). I’m really curiouse to see what flow on effect this will have on existing prices. We bought a few months ago and there is another house 2 doors down (same as ours) on the market on the market…[Read more]

What happens when you hedge your bets and aim for 10? Could you still hold them all and comfortably retire?
Foundation: could you give us a “rough” idea of how you do finance day to day living without a credit card? I am a new investor and have always previously relied on them for everything, then religiously paid off the entire balance each month…[Read more]

I used the latter [fear]

I just used one in Perth to buy our first (and only) investment property. They charge 2%. You need to have pre-approval for finance before they will deal with you. Once you have that, they couldn’t be nicer.
Unfortunately once the wheels are set in motion, it can feel like waiting for a bus. Feeling anxious, I would email my buyer agent…[Read more]

We just did first reno on first IP in 5 weeks. Took 2 people being there around 4/7 days. It’s a 3×1 on full block, about 35+ yrs.

If any of the walls are painted a dark or bold colour, use a cheap white undercoat to slap over the top before you use the colour you want. We did that and it meant only 2 coats on most walls.
If you have an…[Read more]

My inlaws are looking at buying a park home, but they were told (by park residents) that you can’t get a mortgage for them, you have to get a personal loan. So whatever the difference in % that is I guess.

Western QBE is insuring my vacant property with Landlord insurance, which I will ammend to a bigger policy (by $80) to cover loss of income (rent), malicious damage etc once a tenant moves in.