Thanks for the tips. REIWA has what I need.

Simon

Thanks for the offer Kenneth, but I am in Sydney and wouldn’t be able to get there for about 4-5 weeks.

Are you able to give me some details of this estate?

Thanks,

Simon

Thanks for your input people. I will let you all know how my research and hunting goes in WA.

Simon.

blossomoz

I have made recent enquires re: property managers in Mt Isa. Both LJ Hooker and Jays charge 10%. Jays will charge 7.5% if you purchase through them. Ray White charge 8.5% + $5 per month.

I think they all charge GST.

I have not yet purchased there but have spoken with the two managers at Ray White and they are both very helpful.…[Read more]

In relation to NRMA. I spoke with them today and the 4 weeks in rent deduction is basically them recovering the bond, as they don’t want you to prifit twice from a tennant not paying.

Therefore, I believe they are the cheapest by a long shot. (For my circumstances anyway)

Simon.

Thanks Bozang,

I rang Terri Scheer, however, they are very expensive for building insurance.

Simon

Thanks everyone for your replies. CGU did look good but it is expensive. I may get in touch with a broker.

Simon

Hi mcubed,

I am in a similar boat to you, in that I am about to buy my first investment property. (Signed the contract today!!!).

The best way to start is to contact a mortgage broker and get a pre-approval. That way you know if the banks will lend to you. It saves wasting time looking if you can’t get finance.

Good luck,

Simon

It’s an office. Two rooms and a bathroom. It is in an area where the population is about 150000.

Thanks for the info Richard,

Do you know where my tax dollars would be going? Or is that a complicated issue?

Simon

Thanks westan,

The purchase price is $145K.
The rent is $255p.w (Tenant just signed a 1yr lease). The rates are $1910 p.a, and the Property Management fees at all the local agents are 10% of rent.

Thanks,
Simon

Thanks Terry, I’ll look them up.