Forum Replies Created
I was with Terri Sheer for a few years. I changed on the basis of cost, not that I went with the cheapest insurance provider, but they have a flat rate for units and a flat rate for houses. After shopping around for some time I found that other policies are quite comparable and a bit cheaper. I have the same coverage but at a lower cost. I never made a claim through Terri Scheer so I couldn't comment on tier service in any way, but cost is always a consideration, just for your info.
Thanks everyone for the input, I have heaps to go on. I appreciate it.
Mark
Thanks Chiz, I have read another of their books, so will look around for it. Thanks also to Miike, I had done a search and the resulting list of 32 pages of links was too long to wade through. Cheers to all
Mark
Hello Montreur,
I am currently looking for an IP, and was concentrating on regional areas such as Ballarat. I would like to speak to you about your property. I bought my last one without using an agent and it worked well for both parties, and I would definately be interested in doing the same again. Hope to speak to you soon, could you please email me so I could get some further details from you?
cheers
mark
Can I clarify something then? I have no personal debt, I have a P&I loan on our first IP and are looking to set up to buy our second IP. Should I continue with P&I loans if I can afford the full repayment?
Thanks
Mark
Last month i spent some time driving around Tassie, and it is an awesome state. Queenstown seemed to haver over half of its properties for sale and they were extremely run down. I think there are plenty of other spots down there that you would find something better. I think in terms of access to agents/builders/etc the east coast would be better, (look around Bicheno etc)
Hope it helps
Mark
Thank you guys, I really appreciate the help. Looking forward to sorting it out.
Best regards
Mark
Thanks Richard.
The lender is ING and their exit fee in the fourth year of a loan is $350. If I was to refinance this loan with another lender who would be happy to finance the existing balance of approx $180K (property valued at around $280K now) using the IP as security, I believe I would have to pay the establishment fees, plus the $350. DOes this sound correct.
So how do you access equity in your house/existing IP without CCing?
cheers
Mark
Are you looking at student type studio accommodation near universities such as in Carlton Melbourne etc? If so, you should probably be wary that students only need accommodation for 9 to 10 months of the year so you may face some long periods that the unit is vacant.
Also, how are students going to treat the property? If you have ten different students renting it out over ten years, it will certainly need major work at the end of that period, so factor these costs in. Also, if its a bit run down at the end of the year, it may be harder to find a tenant the next year when there is a large pool of other properties they could choose from, some of which may be in better shape.
Just my thoughts….. cheers
Mark
Hi Richard,
I did have a look at their website, which includes a price list. I too thought that maybe it would be easy to quickly run up a bill. Do you think I can do better than C & N based on their prices or on services? Can you recommend someone else?
Thanks
Mark
P>S I was thinking of Chan and Naylor? Anyones views???
Thanks
Mark
Hi Peter,
In regards to Heidelberg West, Only about five years ago, quarter acre blocks with old 2 bedroom houses were selling across the suburb for under 200K. It has had good growth due to the renovation of the Austin hospital, the completion of the Mercy hospital, the new TAFE college, etc etc and now the same propertys are early to mid 400K. So possibly it has had itys growth spurt but I think it may continue to grow. The Northland shopping district has been expanded as well so it should continue for a while yet.
Also, close to this area is Watsonia and Bundoora which I think will also have a bit of a knock on affect due to these reasons, and also, the Northern Ring road will be extended to link up to the eastern so I think over the next ten years these suburbs should benefit from this (Watsonia, Greensborough, Viewbank, Plenty etc. Greensborough is also about to undergo a huge redevelopment of its 'CBD' under the Melbourne 2030 plan.
Just my ideas, but let me know what you think
Mark
Thanks Jim,
I have actually met a client of yours who gave you a very strong recommendation. I am still trying to read widely on the subject of property investment to get some ideas, as I don't necessarily want to be managed through the whole process. What I am looking for is an advisor to help me develop a financial plan, I believe an investment accountant would probably be my preferred option. I will hang on to your contact details and email you soon when I get to that point..
Thanks again for your reply.
