All Topics / Help Needed! / Floods Emerald
- taxdivaParticipant@taxdivaJoin Date: 2011Post Count: 25
I have been following all the talk about Emerald whilst setting up my SMSF with great excitement. I have everything nearly sorted with the SMSF and have decided to go with Westpac for the loan as they are the most experienced with SMSF loans. Now it is raining again in Qld I have lost my nerve a little re the flooding in Emerald but I see lots of you are not concerned and secured your home ins and landlord ins ….
I am looking for some experience from any of you who had IP's in Emerald during the 2010 floods and what can you say about how it all went for you…good , bad or ugly? FYI I am currently employed in the insurance industry so I am not in need of generic ins comments. I am really after first hand experience in making claims and cover in Emerald.
I have been researching the regions and SMSF now for 2 years and about to step up to purchase in the next 2-3 months …delay due to rollover hold ups.
Your experiences much appreciatedJT7Member@jt7Join Date: 2010Post Count: 286
I don’t want to sound flippant but why not mitigate the risk and purchase in a non flood part of town. I’ve 2 in Emerald but made sure before I purchased both properties we’re going to be high and dry. Survived 2010 floods. The market has bounced back and is now rising fast! Excuse the pun!
Certainly makes sleeping at nights easier.
JackRichard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
Hate to disagree but i dont use Wesuck for SMSF loans as i dont find them anywhere near as competitive as other lenders in that sphere.
As Jack mentioned the floods have come and gone. I think basing an investing decision around a once in 30 year event is unwise.
Brisbane went under last year also and we just sat and waited and then filled out boots with giveaway deals which are now worth considerably more.
Yours in Finance
Richard Taylor | Australia's leading private lendertaxdivaParticipant@taxdivaJoin Date: 2011Post Count: 25
Thanks JT7 can you elaborate on the areas unaffected or direct me to any resources that may make this research easy?
Qlds007 I fully appreciate SMSF are very specialized and would love to discuss other lenders with you. I will pm you…thanksJT7Member@jt7Join Date: 2010Post Count: 286
PM’d you.popelichParticipant@popelichJoin Date: 2012Post Count: 15
can those who have purchased property in Emerald recommend a good agent up there. I recently thought I had purchased a house – agent sent me the contract which I signed and returned the next day and then he calls me the following day and says the property sold to someone else. Extremely disappointed with this particular agent especially after he told me how badly ripped off he'd been by his previous unethically partner ( he must have picked up a few tips from him I think)
Anyway back to my question – if anyone can recommend an agent I would appreciate it – thanksLeftyMember@leftyJoin Date: 2010Post Count: 40
Contact Mark Muldrew from Ray White Emerald. A real down to earth guy.
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