Forum Replies Created
Hi guys,
I’ve had some horror stories (all different tenants) …
1. Ceiling caved in … probably due to the tenants growing drugs in the roof space. Luckily no one was hurt.
2. Had a lease with a mate, who sub-leased with his half brother. My mate moved out and his brother got in boarders, who after a period of time ran him out of the house. When it came to re-lease time, the guys all buggered off, leaving me to try and get my bond back, and a clean up.
3 thru to 999. More of the same with tenants.
I don’t lease properties thru agents as they are a waste of time. They irritate me by not doing what they are supposed to and charging like a cornered animal and irritate the tenant for similar reasons.
I NOW spend at least a couple of hours meeting the tenant during the selection phase because a little extra effort then saves heaps of hassle in the future.
BTW, 1500 bucks sounds steep for a HWS!
Cheers,
DHi Pin,
Agree with your logic on positive cashflow vrs positive geering vrs neg geering but don’t agree with your definition of a “high” income.
Cheers,
DWon’t baby boomer exodouses from cities create new cities?
Regina,
Totally agree with you. My situation is the same, except I use the ANZ. Setting up a relationship with an individual at the bank that knows my situation makes life a lot easier for me.
I would change banks if the bank no longer supported the product I was after or their quality of service reduced. After all, I am the cutomer.
The other posts have got me thinking though …
D
I wouldn’t settle unless I had vacant posession.
He may be trying it on with you in getting cheaper rent, however, if he is genuinely squeeling about the cost of rent AND building a house I’d say sayonara and get someone else in.
I feel that he is being unreasonable and at the end of the day you have your expenses.
I suggest that you practice slamming doors in people’s faces and driving off quickly with your door open in preparation for the media. It will make a good story.
Seriously, is a 94 yr old granny able to be reasoned with – if I ever reach 94 I am sure I will be a few marbles short. I think the key is to reaon with the younger lady.
Give back the 7 grand!
It is better to keep good tenants than to increase the rent … this OK in the short term but if everyone does this then rent will never increase along with increasing costs of owning property.
Rates increase, new levys are imposed, GST (which we can’t claim) etc etc but we all tend to back down increasing rent.
Just a thought.
Hi Guys,
With this logic a negative geared property is not considered an asset? I.e. it costs you money to keep.
Am I understanding RK here?
Cheers,
DHi Lawry,
I think you’ll find that J T Reed does write books.
Clearly RK’s books provide inspiration to those who have read them as that apprears to be the concensus of this forum and hence cannot be refuted.
JT Reed appears to be pointing out RK’s lack of detail and incorrect information and conflicting information. He appears to back up these claims with detailed analysis.
Is RK a Sinner or Saint … he is a Salesman.
Cheers,
DCheers,
DLivelife,
At the end of the day these clubs/institutes/whatever are flogging properties, which sounds like real estate agents to me.
Regardless, look at what is being offered, do your OWN research and then make a decision if it is worth it.
Cheers,
DHi Guys,
I’d be a little careful with LOC loans and investment properties. The ATO consider a reduction of the principle as a repayment and this is a headache.
I suggest the following but it depends on your circumstance …
If you still owe money on your PPOR then pay that off and using either a LOC loan or 100% offset loan. (I prefer 100% offset loans as the interest rate is generally better for a basic loan). Any IPs should then be Interest Only so that you are maximising any tax benefits and paying off your PPOR sooner.
If you have payed off your PPOR and have a few IPs then I suggest having one of IP loans with a 100% offset and the remainder IO. This way you can pay off some principle while hunting for the next IP, maximising any spare cash you may have in the offset account. The offset account also isolates cash you may have so that you can spend it elsewhere whenever you like and hence don’t have the problem mentioned above with LOC loans.
Hope this helps.
D
Hi David,
Just curious to understand why you feel the North is a better place to invest than other Perth localities. I kind of agree with you but don’t have any reasons other than gut feel to back it up. Your comments are appreciated.
Thanks,
DHello Boothy,
There was a recent discussion on this that you may want to look up. My opinion is North without a doubt.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au
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