Hi 5c1,

I had a quick look around – do a Search on Google for “Insurance Ombudsman” and you will likely be directed to “Financial Ombudsman Services”, perhaps in your State. But do start there.

The role of an Ombudsman is to work with you to help resolve issues where “David is struggling against Goliath”. I would think your situation…[Read more]

Hi 5c1,

Just as there are Mortgage Brokers, so there are Insurance Brokers. And, just as a Mortgage Broker learns a lot about the various restrictions/rules of the various lenders, I would expect that an Insurance Broker would likewise have a healthy knowledge of various Insurance Co’s restrictions/rules too.

Perhaps sound out some of…[Read more]

Hi 5c1,

Just as there are Mortgage Brokers, so there are Insurance Brokers. And, just as a Mortgage Broker learns a lot about the various restrictions/rules of the various lenders, I would expect that an Insurance Broker would likewise have a healthy knowledge of various Insurance Co’s restrictions/rules too.

Perhaps sound out some of…[Read more]

Hi 5c1,

Just as there are Mortgage Brokers, so there are Insurance Brokers. And, just as a Mortgage Broker learns a lot about the various restrictions/rules of the various lenders, I would expect that an Insurance Broker would likewise have a healthy knowledge of various Insurance Co’s restrictions/rules too.

Perhaps sound out some of…[Read more]

Hi 5c1,

As one who has never had a tenant doing that, can I ask just what actually happened to the house? Like, do they knock down walls to put pipes in, or flood the place leading to rot in the floor? Without your words today, I wouldn’t even have thought of growing cannabis as being “malicious damage”.

Can you help me understand more…[Read more]

Hi Dane,
Ethan’s comment “If your existing equity is only 10%, doubt you could use much of it, if at all” is good comment.

But if you want to know WHY that is so, do check out this post,
https://www.propertyinvesting.com/topic/4410491-the-big-picture-for-new-readers-especially/page/2/#post-5023105

and click the link within it to learn…[Read more]

Hi Dane,
Ethan’s comment “If your existing equity is only 10%, doubt you could use much of it, if at all” is good comment. But if you want to know WHY that is so, do check out this post, and click the link within it to learn even…[Read more]

To all members:-
A spammer was recently found to be approaching members in PM (Private Messages) and offering finance.

The recent spammer was posting under the name Santana, but is now Blocked. Should there be any repeat, don’t hesitate to advise us using the Report button, or even a PM to Admin if wanting to include more information. Be wary…[Read more]

Further to the previous post, a recent spammer was found to be approaching members in PM (Private Messages) and offering finance.

The recent spammer (who is now blocked) was posting under the name Santana. Should there be a repeat, don’t hesitate to advise us using the Report function, or even a PM to Admin if wanting to include more…[Read more]

That little list of yours covers most of “the usual suspects” – the other common one (if buying into an apartment block) would be Body Corp fees. But if buying “standalone properties”, it usually won’t come into the equation.

Benny

is it worth renovating property’s around 60-70k?

Not enough info to answer it straight up, except to say that others have done it, but surely it would depend on each individual case. As always, don’t over-capitalise – and, in some country towns, that might not be too hard to do.

But yeah – buy the problem, and sell the solution. Darryl s…[Read more]

Hi Mikey,
Such things certainly can work – go here for a quick look at one who did this just a few years ago. Some of the pictures can give “an idea” of just what Darryl did, but further down, there is a link to allow you to buy a back-copy of the Investing Magazine so you can read it all…[Read more]

Hi Mikey,

Welcome aboard – you have come to a good place. I just did a quick check and saw that LMI based on a $400k buy

at 95% is $14k
90% is $7.7k,
88% is $5.0K and
85% is $4.3k

So, you can see how things take a sudden turn Northward once you exceed 88%. I should have done 89% too – but you can do that.

Here’s the…[Read more]

Hi Sector and Michelle,

Welcome to both of you – there is a lot to take in, that’s for sure. I suggest you start off by doing a heap of reading – some of the “early stuff” can help you to quickly get up to speed with things. And yes, finance is one of the earlier requirements, and by speaking with a Broker who has runs on the board, you will…[Read more]

Hi Dean,

I N T E R E S T I N G !!!!

You will be keeping in touch, no doubt? Good luck with it,

Benny

Well, here we are twelve months later – Seems I was too conservative in my outlook…. How did you fare?

We were at 2% Cash Rate in August last year, and I was saying status quo, or maybe one tick lower. Blew ME out of the water, as we are at 1.5% now, and still some bias toward getting lower.

I wonder what other polls are now 12 months down…[Read more]

Well, here we are twelve months later – Seems I was too conservative in my outlook…. How did you fare?

We were at 2% Cash Rate in August last year, and I was saying status quo, or maybe one tick lower. Blew ME out of the water, as we are at 1.5% now, and still some bias toward getting lower still.

I wonder what other polls are now 12 months…[Read more]

Well, here we are twelve months later – Seems I was too conservative in my outlook…. How did you fare?

We were at 2% Cash Rate in August last year, and I was saying status quo, or maybe one tick lower. Blew ME out of the water, as we are at 1.5% now, and still some bias toward getting lower.

Benny

Hi Ben,

What sort of properties are going to be best suited, am I looking for new builds with better depreciation initially?

One of the subjects I am wanting to highlight in my “Big Picture for New Readers” thread is one that discusses this whole subject. Maybe THIS thread could become the one I want?

I do know that some well-regarded…[Read more]

Hi Ben,

What sort of properties are going to be best suited, am I looking for new builds with better depreciation initially?

One of the posts I am wanting to highlight in my “Big Picture for New Readers” thread is one that discusses this whole subject. Maybe THIS thread could become the one I want?

I do know that some well-regarded people…[Read more]