Recent content by Magnum9

When I saw beach side blocks for $89k the first thing I thought was maybe 10 years ago. Turns out it was.

Saw this ad in the latest edition of API for eezirent.com.au Get a single listing for $199 and tenancy database search for $10.

There is one in the Northern Suburbs called Flick Realty advertising 5.5%

And you still end up with some teen office girl "managing" your property.

If you are self managing you should already know the rules, not casually read it somewhere and think, well that's interesting, I didn't know that. In WA the process starts the first day after they don't pay rent with a Notice of Termination for Non payment of Rent. If they don't pay within 7...

You still fill out an offer the same as any other property so you can offer whatever you want and see what they come back with. Try $420k or even lower if you want.

Exactly ;)

Mine is not an opinion it is first hand experience. Let's just say there are plenty of dodgy locals that you won't see at night unless they smile.

If your wife will be walking around after dark, don't buy in Nollamara, it really is that bad.

Does EBM differentiate between privately managed and agent managed properties with your level of cover and/or excesses? As I pointed out earlier that is why I avoided Terri Scheer. I went with AAMI a couple of months ago for my first property, based on price (around $300 cheaper than everyone...

Back on topic, to the OP, did you read the Terri Scheer PDS? When I considered them a few months ago they only covered $500 for malicious damage minus your excess of $500, which equates to ZERO cover!

Problem with all these areas with cheap houses is they attract investors and therefore cheap tenants. I know they are not all bad but there is enough of them to turn these areas into upmarket ghettos. Just look at Clarkson where the crime rate is out of control, it started out nice enough...

If you have a good tenant I believe that is more important than another $1000 a year cashflow. Two weeks vacancy between tenants will cost you that much or more.

I wonder how that 8% compares to commercial defaults, e.g. Synergy or Alinta, every customer sent a reminder notice is technically in default.

I have just done the same thing you want to do but under ANZ Breakfree. Got a LOC secured against PPOR for 20% deposit plus all borrowing costs. Then got separate IO loan secured only by IP, no cross coll. Because I was already under Breakfree with my PPOR there were zero setup fees, only fee...