Redcliffe Peninsula

[StaceyQ]

No, I pay less than that for a house in Gladstone which is apparently now "cyclone affected region".

Do check the flood map for the property. There is a large open concrete drain running through Clontarf and several places are at sea level. I just paid $1100 for our house at North Lakes which is near Redcliffe, for $300K building replacement and LL insurance, with EBM.

Yes EBM was $1100 but they DO NOT cover for floods.

 

[Angel]

Sorry, I don't understand. Why would you consider a place that is likely to flood? Storm water run off, maybe. Check definitions

 

[becaben]

That's the go, get someone else to do the hard work..

Ha ..
I'm perfectly capable of doing my own research Jenko
Tyla, has pointed out a number of shortcomings with the property I posted a link to so I'm interested in what Tyla thinks would make a good investment in this area ...

Budget is $350k max and I need 6.5% gross yield to pass my lender servicing calcs.

 

[StaceyQ]

No, I pay less than that for a house in Gladstone which is apparently now "cyclone affected region".

Do check the flood map for the property. There is a large open concrete drain running through Clontarf and several places are at sea level. I just paid $1100 for our house at North Lakes which is near Redcliffe, for $300K building replacement and LL insurance, with EBM.

Sorry, I don't understand. Why would you consider a place that is likely to flood? Storm water run off, maybe. Check definitions

According to council's flood maps and most of Redcliffe peninsula suffers some degrees of flood here and there.

I haven't looked into EBM's policies but remembered reading about many QLD flood victims insurers refused payout in 2011. Many court cases to work out the definition of flooding in policy fine print.