Buying an investment house (27)
AbagailBendigo, Victoria Australia16 Threads 14,317 PostsAgentAjax: with investment property you should have liability insurance at minimum, you never know, they might fall over and hurt themselves and you might be liable because some clever lawyer found something unsafe in your home. Despite the fact that insurance can get bit hexy you can still claim it on your tax as an expense and if you are really clever you can get exempt from paying any tax during the year.
It seems I may have to come to you for advice if I ever decide to become a realty tycoon. 
Good luck Lok Simpson... 
I wouldnt touch it with a barge pole ...and thats what your going to need next time it floods.You wont get insurance , and the property will only devalue in a flood area.You could find yoursef having to do massive clean ups and find somewhere for your tennents to reside while your doing it! back.away back away
Jmo
Jmo
kizzy27: I wouldnt touch it with a barge pole ...and thats what your going to need next time it floods.You wont get insurance , and the property will only devalue in a flood area.You could find yoursef having to do massive clean ups and find somewhere for your tennents to reside while your doing it! back.away back away
Jmo
Jmo
Cyclone Tracey hit Darwin very hard. That was 40 something years ago.
Black Wednesday hit Victoria some 60 years ago and repeated devestation a few years back.
Brisbane had its floods a few years back after nothing happening for some many, many (if ever) years.
If you are ever thinking of anything in a recognised Disaster Area, you do have to weigh up the odds of it happening again.
cyclones and bushfires are very random .Floods on the otherhand tend to revisit the same area due to the geographical elements and the lay of the land.Throw in climate change and the prediction of increased superstorms due to this phenonemon and you have a good chance of the next flood not only occuring exactly where the last on did but also morw frequently and more severe..... but hey what do I know...
kizzy27: cyclones and bushfires are very random .Floods on the otherhand tend to revisit the same area due to the geographical elements and the lay of the land.Throw in climate change and the prediction of increased superstorms due to this phenonemon and you have a good chance of the next flood not only occuring exactly where the last on did but also morw frequently and more severe..... but hey what do I know...
More than me
kizzy27: cyclones and bushfires are very random .Floods on the otherhand tend to revisit the same area due to the geographical elements and the lay of the land.Throw in climate change and the prediction of increased superstorms due to this phenonemon and you have a good chance of the next flood not only occuring exactly where the last on did but also morw frequently and more severe..... but hey what do I know...
I worked in a rural Govt area of 40,000 sq kms & 44,000 people, a lot of State and National Parks. Rainfall is usually good. But 3 years ago severe storms after a bit lessor rainfall for a number of years resulted in 198 landslips that severely affected roads.
The excessive rainfalls could not have been predicted and so the drainage off roads, let alone the drainage systems in urban areas, could not be designed for.
Total drainage systems are usually designed for 1 in 100 year storm events. BUT this does not mean that these storms will only happen once in 100 years. It does mean that there is a 1% chance of that severity happening during any storm event.
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