Dippa replied to the topic Landlord Insurance – Expensive and Never Used? Ideas in the forum Help Needed! 10 years, 10 months ago
What I have learnt from my last post is, don't give up, do not take NO for an answer and point facts in there face and they will pay more, I have had GIO say NO to multiple parts of my claim and each time I have proved them wrong and they have paid. They rely on people giving up because its too hard, so don't, fight the fight.
Cover for pet damage is also something to look at, GIO state that if myself or the tenant authorize for an animal to be at the address then the damage that animal does is not covered, so to summarize, if as a landlord I say no pets and the tenant decides they want a horse, they let that horse inside and it trashes the house, then I would not be…[Read more]
Dippa replied to the topic Landlord Insurance – Expensive and Never Used? Ideas in the forum Help Needed! 10 years, 11 months ago
I have two IP's that are both 300k each and insurance is $550 each, recently a wonderful tenant did $8000 damage and no rent for the last 4 months, insurance as painful as experience as it has been is paying all the rent, bar 1 month, and about 23 the damage. so it is worth it, what I have learnt is to ask,
1. Do they cover pet damage.
2. What is…[Read more]
I am currently going through a claim at the moment with GIO, they cover first $4000 of rent owed and malicious damage, everything else they call house keeping. I am not that impressed at the moment.
Lessons learnt, ask about pets, even if you say no to pets, if the tenant gets an animal and it trashes the house you are not covered. Only holes are…[Read more]
Dippa replied to the topic Landlord Insurance – Expensive and Never Used? Ideas in the forum Help Needed! 11 years ago
I am just going through this at the moment, I have 2 IP in Melbourne, 1 of them was handed to the hands of hell (god knows how) and has now ended up with no rent since November and many $$$$$ damage. We are being told by our Manager that the last time these people damaged a property (A different Company put them in the house, the new Managers had…[Read more]
Dippa replied to the topic Is Vendors Finance investing viable on intrest only loans? in the forum Help Needed! 11 years, 2 months ago
Hi Paul and Alex,
Paul is there a standard interest rate that is charged as in I pay 6% and they pay 7%, or do you just do same rate but you I/O and them P&I?
Scott No Mates, thanks so much for that, would you know, if you have read it, is "Trust Magic" still a current book for todays world? Would or could you recommend any other literature to read to raise my knowledge level on this subject?
I believe a family trust? what is the best trust to set up? as per Steves book, to set up the trust to buy the IP and the company guarantors the purchase (this bit I get) Sorry all, very green and just getting my footing..