A good property manager saves you money!
I researched the REA in my area and chose the most expensive as my property managers @ 8.5%. Why? Because they distinguished themselves from the other REA in their quality service including by guaranteeing 3 inspections a year.
Ideally you would manage it yourself, but my properties are interstate.
Get a…[Read more]
A schedule by Deppro cost me $440 and was well worth the cost. This is a once off fee that I can use for the life of the property (40 years).
Deppro are one of well known depreciation specialists but I don’t think they have an Adelaide office…
From what I understand investors are now driving the Sydney market. First-home buyers have significantly dropped off in the last few months, making the FHOG less and less of an influence. This has to mean the end is nigh!
This is answering the question a bit laterallly, but getting a great tenant is way of increasing returns.
I have one property where the rent is a little below market. However the tenants have lived there 8 years, never been behind in rent, and haven’t cost me a cent in maintenance in the 12 months I have owned it!
This more than makes up for the…[Read more]
I have a friend in the buyer’s agent business. So far he has found genuinely excellent deals for people and charged 3K for the service.
Many potential clients have been sceptical of course, but those that bought through him have been more than happy I understand.
I think it comes down to whether you have more money vs. time to how much value you…[Read more]
I am not yet an expert on property but here’s what I can offer on this subject…
One of the first questions I asked about a property when buying was the BC fees as they do have a big impact on cashflow.
I looked out for things like swimming pools that would add up to a big drain on BC funds but not equate to a compensatory rise in rent.
I read John Fitzgerald’s 7 steps to wealth and was fairly underwhelmed…something was missing in it for, the advice wasn’t as intellectually sound. I guess I am a little sceptical anyway as his mob Custodian Wealth Builders do try and pitch their services to you at seminars (whilst badmouthing other people who do the same thing).
Thanks for the reply, fair points. I won’t do anything myself, but am not really the groupie type anyway
I am in fact considering attending the seminar in Sydney. $1190 certainly isn’t outrageous if the benefits are there.
What size event will this be, i.e. how many people? Will specific questions from the attendees be encouraged or…[Read more]
In response to the original post I think Steve (the author Steve) goes to quite enough trouble to explain how the 11 second rule fits into his investing – it’s an initial test to filter through a lot of available property very quickly.
I doubt the original poster actually read the chapter properly. I too have heard the rule before, expressed as…[Read more]
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