Wow, I didn’t even know that accountants recommended IPs in their general line of work!

Just a quick update to let you know that we went and saw Tony @ Mack & Co this morning. He is by far the best accountant I’ve met, so we’ve decided to go with him.

Thanks so much Artaud & Celeste for suggesting him [biggrin]

Thanks also to Wayne for your input and for sharing your experience with accountants. This forum is brilliant! [lmao]

I would ask how many properties each PM manages. If the number is really high, then you would question how capable they are of giving your property the attention it deserves. I’ve recently got a job at a property management place to get some experience and my boss manages nearly 100! For this reason I would not use her, even though she has a ‘good…[Read more]

I’ve got an appointment with an accountant on Friday who was recommended via a previous post. He also is qualified to give financial advice, so armed with the information you have both given me, it will give me a head start to understanding what he says about it.

Thanks so much for your valued opinions [biggrin]

Thanks Simon.

So does that mean that we could both salary sacrifice the PPOR?

Thanks LA Aussie

I think the penny finally dropped about +ve cashflow vs +ve gearing. Now I know what to look for next time to get off the -ve gearing merrygoround.

[wacko]

Thanks Celeste, I really respect the opinion of fellow investors on this forum and would prefer to see someone who is recommended.

I’ve got a couple of leads so far, thanks to both you and Wayne [cap]

Cheers Wayne, I’ll look it up and see what it’s all about [exhappy]

Thanks for sharing your experience and insight Wayne. What do you mean by “SMSF”?

or you can go to realestate.com.au and click on “Find Buyer’s agent”

What about if the long term plan is to purchase IPs that will eventually fund a PPOR in a very desirable location? Could you take the chance buying -ve geared properties (with good growth potential) and pay down the debt over time until they become +ve (or rent goes up)? The reason I ask is that someone (who is an experienced investor and works…[Read more]

P.S. I also found it really helpful to set up a spreadsheet to compare the fees and charges of local property managers. I got them all to either post or email me the info and then compiled the data. For me, it was easier to compare their prices on one page. I also went for a local PM because we only have the one property and they have local…[Read more]

Hi Katie,

I used a buyer agent in WA to help me source our first property. I set up a meeting with the director who spent a couple of hours with me outlining what they do etc. Apparently this was a complete novelty for them as they rarely meet clients face to face, but it helped me to feel confident that I was parting with the finders fee for the…[Read more]

LOL Wings! Thanks for your congratulations, same to you

When I was ‘interviewing’ PMs, one of my questions was “how many properties are you currently managing?” because I didn’t want to be some forgotten number. We’re doing ok in that respect as they are a small RE office (not part of a franchise). It must be quite frustrating for you to be…[Read more]

Is it still wise to get an IO loan on an IP that you plan to hold for the long, long term? Don’t you have to pay something off the principle eventually?

Can’t offer any advice regarding an outside investor, but my inlaws recently did the same thing in the UK. They bought their council house 3.5 years ago with the view of returning to Australia to live.

My father-in-law is on a disability pension and my mother-in-law did shift work on a factory production line, so it was really only her money…[Read more]

You can also go to realestate.com.au and click on ‘Find me a buyer’s Agent’. This is where I found mine.

Bridgebuff – I phoned Centerlink, got shuffled around and couldn’t find a definitive answer. I was advised that payments have recently been increased until further review in March ’07, but the woman could only guess that it was due to inflation. When I asked who could confirm this @ Centerlink, she said no one would know why they increase, they…[Read more]

Hi all! As far as I know there was only 1 suitable tenant who applied and she is the one living in it. I was hoping we could get $220/week, but she was the only one who was interested…for $200/week [blink]
Admittedly, it was only advertised for a week, but I figured it was better to get someone in there to help with the mortgage asap for the…[Read more]

Hi all! As far as I know there was only 1 suitable tenant who applied and she is the one living in it. I was hoping we could get $220/week, but she was the only one who was interested…for $200/week [blink]
Admittedly, it was only advertised for a week, but I figured it was better to get someone in there to help with the mortgage asap for the…[Read more]