Ok well the Required Insurance Amount can differ greatly from the Valuation. Imagine if you own a shack on a very expensive piece of land on the coast. The Valuation may be $1.5mil but Required Insurance Amount – $200k ? See what I mean… Required Insurance Amount only takes into the account of rebuilding the house and doesnt include the land value.

Hi Frankey,Thanks for giving me a Tenants perspective. I will be a Tenant myself for the first time in a couple of weeks so it will hopefully give me another view on things. You sound like a very good tenant putting on felt protectors on everything, your welcome to stay at my new place! hahaDaniel,Thanks again for your helpful advice. Its all very…[Read more]

Hi Anthony,Was the $120k the Bank quoted to you the Valuation amount or the Required Insurance Amount? Normally on a valuation there is a figure which estimates the amount you should insure the property for if you had to rebuilt it. Jacqui

Hi Leonie,Thanks for your reply. I spoke with the floor sanding guy again today and it may still be possible to get them done we will just have to scrape some of the glue off prior so it doesnt make a huge mess of the sander. Shouldnt be as bad as first thought and price is half the cost of vinyl tiles/planks or ceramic tiles. Are polished floor…[Read more]

Hi Daniel,Thanks for your reply, very desperate for advice at the moment. Only have 2 weeks to get it sorted before I go so a little under the pump. Is laminated flooring those clip in floorboards? I have heard they buckle up if waters gets on them? I went to  Carpet Choice and got a quote for vinyl tiles and they were just as pricey if not mo…[Read more]

Need help with deciding on flooring on new IP purchase..Currently has lino in kitchen and carpet in lounge room and bed rooms. Bedrooms are all being recarpeted however what I cant decide what to do in the kitchen. The situation is there are good floor boards in hallway and lounge room however boards in kitchen (under lino) have glue residue on…[Read more]

What would you do in this situation…………. Needing help with what flooring to use in kitchen/living area and hall way.Currently there is shitty lino and ugly carpet in lounge room and bedrooms. I will definately be replacing carpets in the 3 bedrooms however I originally was going to tile throughout kitchen and living area however a friend w…[Read more]

What would you do in this situation…………. Needing help with what flooring to use in kitchen/living area and hall way.Currently there is shitty lino and ugly carpet in lounge room and bedrooms. I will definately be replacing carpets in the 3 bedrooms however I originally was going to tile throughout kitchen and living area however a friend w…[Read more]

What would you do in this situation…………. Needing help with what flooring to use in kitchen/living area and hall way.Currently there is shitty lino and ugly carpet in lounge room and bedrooms. I will definately be replacing carpets in the 3 bedrooms however I originally was going to tile throughout kitchen and living area however a friend w…[Read more]

What would you do in this situation…………. Needing help with what flooring to use in kitchen/living area and hall way.Currently there is shitty lino and ugly carpet in lounge room and bedrooms. I will definately be replacing carpets in the 3 bedrooms however I originally was going to tile throughout kitchen and living area however a friend w…[Read more]

HI v8ghiaEBM who LL policy is underwritten by QBE – Malicious damage  or theft  by tenants as well as Accidential damage to both building & contents or any unauthorised home alterations is up to $50k.Although always best to go through PDS and compare between insurers.

Hi sportz43,I'm in a similar situation, on my 2nd IP which I am in the process of purchasing I have been advised by a PM to get a Depreciation Schedule completed on the property in its current state after settlement before I renovate it even if I think the current fixtures/fittings arent worth anything due to being in an poor-average condition.…[Read more]

Thanks black hotel and Simon.Just one thing with the LL policy – The up $50k contents cover on fixtures and fittings is automatic with the Landlord Policy so my insurance is only in the $300 price range.I agree with you Simon – Always best to get cover with 'accidential tenant damage' as alot of insurers wont pay up if you only have 'malicious…[Read more]

Terryw, If I decide to start investing in a company/trust structure I wouldnt change my current IP's due to the costs involved so how do I know if it will be beneficial on the next IP purchase or if I should just stick to buying in my own name?

Hi blackhotel,I know its an old thread but just wanting your opinion on EBM as I currently have 1 EBM policy on a strata unit and considering using them again on new purchase with is a house – approx $650 p.a which includes Landlord, Building, Contents up to $50k. Price is cheaper than competitors, I looked at Terri Sheer for LL and NRMA for…[Read more]

Sorry for the late post Television I did not subscribe to the thread so I didnt realised you replied until now.I didnt formally advertise through a newspaper or online, I was lucky and met a customer who was in the process of applying for rentals. I also had some interest via word of mouth etc. I might not be so lucky in another 12 months when his…[Read more]

Yeah thought so. It is about half an hour out of Wagga. I live in Wagga and wouldnt think the retail demand who be high in that area. Value of land is cheap though but leasing it could be a problem.

Are you referring to Currawarna in NSW? Mangoplah area?

I am in the same position as I am wondering when is the necessary time to change financial structure into a company/trust set up. I own 2 IPs, one in my name and the other in joint names with my partner. My current accountant does not think it is beneficial at this stage to form a company and discretionary family trust. When is a good time to make…[Read more]

I agree with Banker. You don’t need every investment loan with fully transactional offset account. I think it’s important to have a fully transactional offset account on your non deductible debt but the MISA still works fine if you just want to park money in there to save interest. There are no monthly fees attached and minimum deposit and…[Read more]