[bigdellParticipant@bigdellJoin Date: 2013Post Count: 20]

December 1, 2014 - 3:53 pm

Thanks heaps everyone! I have got onto a broker and will see what the outcome is.

Thanks again! Can always rely on this forum to help out!

[bigdellParticipant@bigdellJoin Date: 2013Post Count: 20]

December 1, 2014 - 1:03 pm

Kinnon Bell wrote:

One thing I have no direct experience with but have read which makes sense is to have both building and LL insurance with the same company. If you were to make a claim they can’t say “we don’t cover that, that’s what LL insurance is for” then go to make a LL insurance claim and they say “no, we don’t cover that, that’s what building insurance is for”. Helps with the claim merry-go-round.

Thanks again that does make sense that way there is no argument who pays!

What exactly is LL Insurance like when you look at a big insurer’s website (AAMI, SUNCORP, COMBANK) its all under a LL heading. My assumption is that LL Building covers the house/building and what you are calling LL insurance is regarding LL Contents insurance?

Cheers

[bigdellParticipant@bigdellJoin Date: 2013Post Count: 20]

December 1, 2014 - 12:36 pm

Hi Kinetic and Catalyst,

Thanks for the replies!

Kinnon Bell wrote:

As boring as it sounds – read the PDS of the different insurance companies and compare. Know what you are and are not covered for.
Some points to consider:
– Accidental vs malicious damage.
– Loss of rent – how many weeks will be covered and how long till payment kicks in?
– Excess for multiple claims – one excess or excess for each claim?
– Cover for flooding – needed or not needed and what type of flooding is covered. If not needed are you paying extra to get the flooding cover?
– Contents – what is including as contents with your building or LL insurance policy?
– Self managing? – Make sure insurance policy still covers you.
– Fixed term vs month by month lease – understand how the insurer views these
– What expenses are covered should you go to tribunal

These are the points that spring to mind at the moment. I’m sure there are more though but should provide a good starting point.

Thanks Kinetic I have been reading through tough going but I’m getting there haha

Catalyst wrote:

Is it a unit or a house?
Do you want building, LL insurance or both?

It is a house. And I would say I will be safe and get both building and LL insurance.

• This reply was modified 9 years, 5 months ago by  bigdell.

[bigdellParticipant@bigdellJoin Date: 2013Post Count: 20]

December 1, 2014 - 10:00 am

Or can anyone recommend a good insurance Broker in QLD?

[bigdellParticipant@bigdellJoin Date: 2013Post Count: 20]

September 11, 2014 - 7:45 pm

You need to watch the doco called “Gasland” or “Gasland 2” By Josh Fox.

Opens your eyes a little.

[bigdellParticipant@bigdellJoin Date: 2013Post Count: 20]

August 25, 2014 - 8:54 pm

Hey Richard,

Thanks for the reply! Haha yeah I haven’t got around to posting lately have been a constant lurker though.

I was also really interested in where other people are looking at the moment and there reasoning behind it. I have been looking at places around the Gold Coast, South Brisbane, Newcastle and even as far as Albury/Wodonga. With some places showing very strong yields from what I have found.

Just wanted to see what was on other peoples minds?

[bigdellParticipant@bigdellJoin Date: 2013Post Count: 20]

January 10, 2013 - 1:08 am

What's this "6 years rules" you talk about?

[bigdellParticipant@bigdellJoin Date: 2013Post Count: 20]

January 10, 2013 - 12:41 am

That is true to retain the first home owner grant you are required to live in the house for a minimum of 6 months in the first 12 months however if you are in QLD the grant no longer applies to buying already established homes (I'm not sure about other states) but if you need more information for QLD, the office of state revenue should have some answers for you.

http://www.osr.qld.gov.au/first-home-owner-grant/index.shtml

Hope this helps!

[bigdellParticipant@bigdellJoin Date: 2013Post Count: 20]

January 8, 2013 - 7:34 am

what about a buy, renovate (to gain capital) and hold approach?

[bigdellParticipant@bigdellJoin Date: 2013Post Count: 20]

January 8, 2013 - 12:45 am

Basically what I want to do is go where I can build some capital quite quickly so that I am able to invest further.

I think houses will be the way as you said with having more options in what can be done to achieve capital.

Thanks for the input guys

[bigdellParticipant@bigdellJoin Date: 2013Post Count: 20]

January 6, 2013 - 6:00 am

Thanks for the info again guys.

And Richard email is on the way!

Cheers

Kendall

[bigdellParticipant@bigdellJoin Date: 2013Post Count: 20]

January 5, 2013 - 6:12 am

My List of questions grow everyday with every click of the mouse on this forum! I am so glad I have found it nothing like using other peoples experience and sharing your own rather than learning the hard way every time. I wish I had the deposit ready to go now, but I think the decision to pay off my personal loans before saving for a deposit will pay off in the long run.

[bigdellParticipant@bigdellJoin Date: 2013Post Count: 20]

January 4, 2013 - 12:51 pm

Thanks so much for the advice guys very much appreciated! Has been taken onboard and will put it into practice! 

Cheers

Kendall

[bigdellParticipant@bigdellJoin Date: 2013Post Count: 20]

January 4, 2013 - 9:10 am

Perfect Jamie!

That is exactly the answer I was after. I did have that idea but wasn't sure if I was going to be better off with the tax benefits of the IP first.

I think its time to get onto a broker and get the ball rolling!

Cheers!

Kendall