Forum Replies Created
Hi all
People talk about giving movie tickets as a reward to tenants that pay. You always talk about 2 tickets what if you have 3 tenants or 4 or more? Another thing 1 property may not sound alot $28/mth but if you have 5 thats an extra $140 / mth. How does this sit with the tax man aswell?
Just food for thought. I have asked this question before but do most people really have problems with tenants not paying. We have 7 properties some with uni students in them and rarely have rent unpaid. We fix things promptly otherwise leave them alone. We set fair market rent consider rent increases carefully, and usually have a low turnover of tenants, most of the students staying for the duration of their studies.I would atleast use the rent in the calculation, it seems a bit onesided to use the outgoings like management fees and not include the rent on the incoming.
Gee Mini that was quite an answer, but wasnt it a property crash that occurred before the 1929 stock market crash. The idea that owning part of a company is like owning nothing is an interesting thought, but I guess Rupert M, Bill Gates Etc feel they own something.I have no problems with people who say they prefer property and dont like shares but to spread information about shares that isnt true is not right. I enjoy a good debate but lets try and stick to real facts instead of an uninformed put down.
Well said
Well done SIS
I know this is a property forum and so most people will only be interested in property, it just amazes me that people think that trading shares is like going to the racetrack. I have plenty of friends that think investing in property is sooooooooooooo ooooooo risky they just dont know how I do it.
Like SIS i have a plan I follow with shares stop losses are in place my main concern is protecting capital, then increasing it. I have a similar plan with property.Hi All
Would I put my money into shares or property, at the moment I have made more out of property but then I have had it alot longer and spent alot more time on it, shares on the other hand I can see replacing my hubbys income leaving more time to look for property. I find at the moment property is definitely more time intensive, but like SIS i really like shares and feel they will always be an important part of our portfolio.
I think people should do what suits them I feel you are interested in shares Yack like any investment it is all about educating oneself so that your money can work hard for you
ErikaHi Yack
Yes I do own Caltex and there has been many other good stocks. It has not given a signal to get out yet all I was trying to say was that not all stocks are bad just like not all houses are good. I have made my mistakes with them as well. I like both shares and property I feel they both have a place in my investment plan.Hi Westan
I am not saying that shares dont drop 50% in one day but if you look at most charts they have normally gone into a down or sideways trend before they do. As I havent got the hih Chart have a look at leightons chart it droppped 25% in one day but it had given you a warning that things wernt right 8 weeks prior when it crossed below its 30w ma , yes I have lost money and when I look back at the chart I have learned that the signals were there. Gerry Harvey is a very successful business man but that doesnt mean he is a good sharetrader.
Lets have a good example if you had put your $10000 in caltex in may last year it would be worth 4.5 times more or $45000.What sort of tenants do you have that you need mug shots.
Hi
Yes I am talking CFD,s.
I couldnt agree more with aceyducey, people are limited by themselves. Most of what we do in life involves some kind of risk what we should try to do is minimise that risk not avoid it.
ErikaHi All
I have read this thread with interest. The only point I would like to make is that the examples given with shares like HIH etc give people the impression that shares go from their high to $0 in one day. This just isnt true if you look at their share charts they have been going downhill for a while sometimes for years. They normally give quite alot of warning that everything isnt ok. To give an analogy with a house imagine having termites and ignoring the inspection reports and your house falls down oneday ( yes I know you are going to say what about the land) but now you have to rebuild.
To choose the right share to invest in probably takes less time than finding the right property, Yes there are risks involved in shares but like property you learn how to minimise them, Property you need insuraance and inspections with shares you can have guranteed stop loss points.
ErikaHi Dave
Thankyou for giving me a good laugh, I had nearly forgotten how gullible people are when it comes to Russell IS. Maybe you should look at why the land is so cheap , compare it to other islands and be aware of that rising tide.Hi Ben
I just until recently owned a property in a small group of 4 and we self managed the complex. In fact for the 12 yrs that we had it we only had two meetings and one was to set up the by-laws. Firstly I would find out who is managing the BC, if it is one of the ownwers go around and see them or phone them. Go and see the other units if they are rentals find out who they rent thru to get the owners name. If you dont live near the units get your PM to keep an eye on the outside of the property thats what we did. We found that looking after the property ourselves and at one point we no owner occupiers we could keep the BC levies reasonable as well as keeping the property up to scratch. Communication is the key here.
ErikaHI
Do most people have trouble with late rent payments. We have owned properties for about 12 yrs and have only had a couple of problems with late payments and in the end there is normally a reason that can be sorted out. I have one question when it comes to rewarding for no complaints, does this mean when there is a problem that should be fixed they wont say incase it stops them getting their reward. As a tenant myself I just want the landlord to look after the property and leave me alone a simple formula really.Hi
We have used Jan Rodgers Real estate for about 12 yrs now. I have always found her to be very good and it is the only one of our properties we have never changed PM with.
ErikaWe pay 5% in brisbane, but in Darwin we pay 9%.
By the way Kay it is worth asking your chemist how much a presciption costs as it can vary quite alot from one place to another, I was put on to this by my doctor who told me to ring around.
ErikaHi Waf
No you are not entitled to see the valuation that a bank has done. You can contact the bank for a list of their valuers and you can pay for them to do one for you, have it addressed to the bank but ask them to send it to you first so that you can see it before the bank. The other thing you can do is ask them to do a verbal quote and if the place hasnt gone up then only pay for that not a written one. You dont have to get a valuation done on all properties when you by a new one, you only need to do this if you want to use the existing equity
Hope this helps
ErikaGreat whats its name and link
Hi
If you sell the property for below fair market value you may find the tax dept calling. You usually need to be able to prove how much the property is worth.HI Celivia
I keep all rent received and expenses for each year separate, that way at tax time I am not looking thru years of receipts.
Erika
