Landlord Insurance

I have owned properties on the west and south side of Brisbane and still do. I must agree that I have found some tenants to be down right dreadful. I had one property in Wood ridge where everyone told me not to buy, tried to rent it myself and was ripped off three weeks rent and had the house vandalized.

After that experience I have learned my lesson and I have made sure to get building and landlords insurance. This ensures that I do not have losses on rent and from damages, they even cover loss of rent its great for this specific kind of investment.

Due to the low cost of purchasing in a 'cheap' area such as Redbank Plains I know significant growth is achievable due to the fact a higher level of demand for houses priced at $300,000 than those priced at the higher end of the market for example 400-500K.

Western corridor properties are great for investment if you can find a house and land at an affordable price and make sure you factor in rental returns lower than the agents tell you at least 10%. This gives me a buffer and ensures that it rents faster and to a long term tenant, nevertheless make sure you have building and landlord insurance to safeguard against any adversity that could arise.

Some examples of suburbs along the western corridor that still have land/house and land packages available are Springfield Lakes, Bellbird Park, Brookwater and Redbank Plains
The opinions expressed here are those of the individual and not those of Homely.com.au.
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