Yes, I too am sick of tradesmen who not only charge like wounded bulls, but also often don't do the job properly the first time so need to be called back..I have maybe 12 electrical jobs I'd like done (additional security lights, changing light shades, a couple of new power points, a bit of a variety of stuff, but totalling 12) at my home, but a…[Read more]

Onya Rachel, you did well  A little bit of knowledge goes such a looooooong way with rental properties, doesn't it?Glad it worked out as well as it has for you,Cheers,   Liz

StingrayBirke, sus out a person who's been investing in residential real estate for some time, & you'll hear the positives for yourself, straight from the horse's mouth. Property investing is like anything else in life.    If you pay attention, study the subject from books, seminars, & the experiences of others (including on sites like this), you&…[Read more]

Bit cheeky I know, but in the past, whenever I've had to sign a new Authority To Manage form for a new agency, I cross out their 2 year date & write in it's place UFN, then initial it.When they query that, I just tell them I'll stick with their agency for as long as I'm happy with their service!And do they tell me to go jump?     Course not, the…[Read more]

Mmmmmmm.  If we asked 50 different people, how many dollars would it take to make you rich, I wonder how many different answers we'd hear.

Raaaaachel!Cooooooooooooooooeee!    What's happening gal?     Hope everything's ok with you?

Some of us have been conditioned through our parents and others, to have a "scarcity" mentality.It's up to the newer generation who're whingeing about "cant' afford this, can't afford that," to break out of the scarcity frame of mind.   And it can easily be done, just look at the examples given by some of the posts immediately preceding mine Don't…[Read more]

I'm with you on that one bardon.Debt (if you handle it astutely), makes money.    Sitting on your hands doesn't.I detested secondary school (boarding school) & so did very poorly with secondary education, but decided the day I left there that for me to get ahead, I'd just have to work long hours, end of story.And that's what I've done ever since…[Read more]

Why is the Property Manager "waiting til they leave" for God's sake?As has been suggested, get yourself an inspection ASAP, with you present (in W.A., 7 day's notice is required to be given to the tenant by the Property Manager!).   Tell the Property Manager to bring with them to the inspection, the ORIGINAL Property Condition Report, so you can c…[Read more]

Hi Rachel,Which state are you in?In W.A., we have our Real Estate Institute of W.A. (REIWA), who have a "public enquiries" number for people in your situation, who are using a Property Manager.I'd start by finding out in whose name is the lease, so you have that information before you call your local Real Estate governing body.And TODAY'S a good…[Read more]

……sorry, forgot to state that I'm in W.A. – if that matters?Cheers,   Liz

I began stating as a Condition on my Property Manager's Lease Agreements 13 years ago, that I'd pay 90% of the tenant's excess water useage (to encourage them to maintain the lawns & gardens to my standard that I'd provided for them).Regardless of what I thought was my extreme generosity, my lawns & gardens were allowed to die (& the P/Mgrs d…[Read more]

Hi Joely,I'd move into it, & rent out the one you live in now, if the one you currently occupy is of a good rental standard.  That way I'm sure your existing mortgage becomes tax deductible, and you could do lots of the work you're planning to do in the second house, in your spare time, saving you lots.I feel you'd be doing yourself a big fi…[Read more]

I live in a city South of Perth.
House prices have been falling here for approximately 2 1/2 years.
There are loads of houses are on the market, to sell your house, you need to drop the price by tens of thousands..
Rents on existing properties haven’t risen in a year or two.
The main local paper has an abundance of houses for rent.
I blame the…[Read more]

I’ve just started the ball rolling towards having 2 home units built behind an existing rental, so far just to the planning application stage.
I’m 63, and perhaps quite ignorantly, assumed I could get my mits onto my super now.
Monday I discovered that that is not to be, as I still work full time, my only option seeming to be that I may be able to…[Read more]

From my experience, there are some Property Management agencies, who don’t only charge you the 9.25% management fee (incl), but will also deduct 9.25% from your rental income for other monies that pass through their hands, e.g. painting, gutters, rates, insurance, water etc, whether you’ve organised the service or they have. Personally I pay…[Read more]

Wow! 3491. That was worth all the grind & the going without over the last 20 years!
So that’s my benchmark. I wonder what I can achieve in the next 20 years, but I’ll start with this next 12 months first…….
Thankyou so much Steve McKnight, for sharing your experiences with us & giving us the benefits of your knowledge and wisdom,…[Read more]

Hey guys,
I think we can make our point without putting others down.
Start your sentences with, “from my experience, I’ve found…..” instead of losing control and criticising someone else’s experience, huh?

I’ve found that our W.A. RAC (Royal Automobile Club) pays the highest interest.
I think there’s one in every state, with names varying just slightly.

Me tooooooooo!