I use RentCover Plus or CommInsure for LAndlords Insurance, contetns and Public Liability. Also use CommInsure for Building and sometimes for the other stuff too, depends on price, what’s covered etc. Below is the address for rentcover.

http://www.rentcover.com.au/rentcoverplus.html

But yes, shop around.

Milly,

When we sold our PPOR which had the IP’s all cross collateised, they then took the new PPOR as the security over all the IP’s. This was at a “cost” as I was changing securities, I think it cost us $150 per property.

So at present we have one IP that is stand alone, and 3 that are cross-coll. One of the three only has itself and our PPOR…[Read more]

Ah Misty, there are as many unhonest tenants as their are landlords. Give them a chance to prove what good tenants they are and most will. We all come across the odd bad one from time to time, just have insurance for those ones rather than tarring them all with the same brush!

PK

Hi there,

The first home owners grant isn’t applicable if you plan to rent it out, it’s to get you into your own home. Check the grant conditions, someone on here could probably clarify but I believe you have to live in the house for either 6 or 12 months, not sure which.

Secondly, from my experience and others would disagree, but I feel it’s…[Read more]

Terry,

We had the same problem with Colonial, had 30% equity in the property (place was valued by the valuer they would accept) and they said NO, when I questioned the decision they said “it wasn’t their policy”.

When the fixed terms come due I’ll take the loans elsewhere, mainly becasue I wasn’t happy with their unhelpful answer.

PK

Millsy, there are still chances to purchase +ve cashflow property but not quite with the same formula as the market has gone up and changed since the book was written.

You need to find your niche market, for some it’s country proerties, for others it’s renovations, others it’s student accomodation etc. There’s scope still for +ve cashflow but…[Read more]

I’d be concerned that if you pull the money out of your investment properties you won’t be able to claim the interest on this portion anyway as the redraw wasn’t for investment (ie: it went into PPOR).

You could use the equity in your current properties for investing in +ve cashflow property, if you are comfortable with that scenario. Have you…[Read more]

Misty,

Have a read of the article “Don’t fence me in” in this month’s API magazine. WHile mainly involves land that changes overship due to fences etc being in the wrong place, it does touch on issue of obtaining land that has been used ie: for over 15 years. It also states some exceptions ie: crown land in certain states etc.

I don’t know…[Read more]

Barnsey is spot on, I’ve assumed you were doing a renovation and then selling to take the profits, however even if you are renting it, cosmetic may still be easier for the first one.

Does that mean when you go for a loan in NZ they are happy to look at you AUS income?

PK

Yes, clarify if you’re looking for a place that mainly needs a cosmetic upgrade or whether structural problmes are fine. If you’ve got building experience you may be happy to sort out structural problmes, ifyou’re not, then it may be best to start with a cosmetic makeover first.

PK

Tile shops have a grout cleaner that’s a mild acid, lives most dirt, although if the grout is thin then it’ll ift the grout too (found that out the hard way). Or you can buy a tool from the hardware to rip the group out and then regrout.

Whichever way you go, I’d suggest spending the time to seal the grout after you’ve got it clean. Most tile…[Read more]

Do you have a use for a second storey? there’s two ways of looking at it I guess, one is that if you have a use for the extra room then you are giving yourself a better lifestyle while improivng the value of the property.

The other is, that you are relying on capital gains by going down that path, can you comfortable that there will be capital…[Read more]

I read the condensed version in the Readers Digest and happened to like the condensed version (but I think all the Mills and Boons bit was taken out and only the main “facts” were printed).

Well, facts, that’s an interesting word in this case.

Shame it wasn’t real as I believe these things do happen in some countries and publicising it so people…[Read more]

What does B&H mean? Bothels and Hotels? Only kidding, but would love to know what the abbreviation is?

And HotRod, well done on the return you’re making.

PK

HI there GreatPig,

Well, our equity levels aren’t as high as everyone else’s but we’re comfortable with where we are at.

4 IP’s – 2 have 20% equity, 1 has 30% equity and 1 has 50% equity. We are comfortable with this equity level as IP’s are paying for themselves and will do so even if interest rates rise a couple of %. If they rise beyond…[Read more]

Marisa,

Agree that HWS on bottled gas is very expensive. Our PPOR was set up this way and we were going through a bottle of gas a month, at city prices that was $58 a month. Often country prices for bottled gas are higher, the bottle we just purchased for rural IP was $77.

On PPOR we got rid of gas HWS after the 3rd bottle of gas and since…[Read more]

Yes, give him a call. There is some minor maintenance (cleaning) of the cooler that supposedly should happen yearly.

Regards
PK

http://www.reports.rpdata.com.au/

Give this a try.

Most of our policies are either with CommInsure or Rentcover, depending who has the cheapest price when adding the new house.

Sometimes even split it ie: building with CommInsure and LAndlord Insurance (including some contents for curtains, carpets etc) with Rentcover.

So far have not made any claims so don’t know how either are. But others on…[Read more]