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Type: Posts; User: Eugene
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Absolutely and I have that. However most companies only go to 20k (per property). That wouldn't last very long with a big property.
A payout would be quicker. Then you could repay the bank. If you go for rebuild you have no rent coming in, and interest still to pay.
So they do depreciate the property.
Yeah gobbledekook. They should give an example of how to calculate the depreciation but I guess they don't
I had no idea this was happening.
Like Leftette, I would love to know their justification.
Does sound dishonest/fraudulent if not in the fine print.
I see what I can find out too
Thanks I have read the article.
So the policy pays for the QS after the event only?
Would be nice to have some financing for QS now but I guess that is unlikely.
Yes they would rebuild the same size and quality.
If an older house with nice wood, decorative features, and high ceilings etc, these of course would not be replicated.
I am getting a QS because I...
First I haven't done a subdivision.
I would start this way:
Ask a surveyor, council, rough costs and timeframe
What about drainage? Ask a plumber?
Permission - you can get a meeting with...
We weren't sure.
What we knew was that the husband leased the house without the wife seeing it. She didn't like aspects of it.
Also personally I think the rent was high for a family; certainly not...
The insurance company will just say the house would cost less to rebuild than the sum insured.
It was very unpleasant and responding to their complaints took up so much of our time. We offered to release them twice but they didn't respond to that.
We were worried about malicious...
You have to read you policy wording.
But apparently not. I have just found this out myself. You insure for total sum but the company will pay what they assess the house is worth. AA told me this was...
Would you believe it we had worse than any of the five types you mention. Combined.
A professional family. Something we did must have tipped them. I think it was an email response to a rude email...
Is it OK to post names of accountants who have stuffed up? Do you have to post your own name at the same time, is that the rule?
Wayne is right.
You will be tainted.
One thing I do know (but don't trust me, ask Matthew or Ross), if you have buy and holds bought before you start trading, they are not tainted.
I don't think you can get it for vacancies, I've never heard of it.
You can get landlord insurance for loss of rent in the event of damage to the property, eg earthquake, fire, and you can also get...
Propertytrader, def gets some professional advice and don't try to do it yourself, certainly not first time round.
Get Ivan to do your conveyancing and Rosco as your accountant.
I can tell you...
These are the right questions to ask IMO.
Interest rates will only continue to rise with all things going well/none of that crap happening.
Your expectations for interest rates should depend on...
They don't need to increase in value for you to have depreciation recovered, they just need to decrease less than the amount of depreciation claimed. ie be worth more than their written down book...
if the chattels are worth the same or less than the written down/depreciated value when you sell there is no depreciation recovered to pay. If the chattels are worth more than the written down value...
I have found your posts really helpful and have added at least one thing from this thread that I will act on (ie huge value as I have already been investing for a while).
I am in...
Did you think of putting a removable building or sleepout on the section? Cheaper and you can choose to move it somewhere else if you later choose to renovate, need the building elsewhere etc.
The rates for commercial could be higher too.
If it is part residential part commercial this could mean residential (lower) rates. This was the case with a property in Wellington I bought.
It was Ross's mishap8)
Wish it had been mine in a way, could have made a good story
Both Matthew and Rosco give the first consultation free. Then you can decide for yourself if they are helpful.
I did not think either were expensive. I did a lot of research before moving to them...
Oops yes. Thanks. I did mean Ross Barnett. He helped me out of a tricky structure and referred me to Matthew Gilligan after a skiing mishap.