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  • Profile photo of ducksterduckster
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    @duckster
    Join Date: 2004
    Post Count: 1,674

    Make sure the property is attractive to tenants.
    It could have a horrible color scheme or may not match the target tenant market. Tenants might look for houses with built in wardrobes that may be missing in each bedroom. Carpets may be worn or tenants may not like carpets. I had a property in another area that had a horrible colour scheme but I could not see this until someone pointed it out to me. If you do not have an exclusive rental agreement get another property agent. I recently fired my last agent for failing to renew the lease and being not up to scratch.

    Profile photo of ducksterduckster
    Participant
    @duckster
    Join Date: 2004
    Post Count: 1,674

    Get independant advice. Independant valuation, solicitor and building inspections. Before buying property you are not familiar with.

    Profile photo of ducksterduckster
    Participant
    @duckster
    Join Date: 2004
    Post Count: 1,674

    Try looking in the local real estate windows for rentals listed and work out what price similair houses cost to buy in area. Then work out yield by dividing annual rent/ house price * 100
    Look also for rental advertisements in local papers for rental prices.
    Or ask real estate agent for rental listings ie pretend to be an interested renter.

    Profile photo of ducksterduckster
    Participant
    @duckster
    Join Date: 2004
    Post Count: 1,674

    If you have spare cash lying around you could put it in an offset account linked to your home loan as it will reduce your interest while giving you a ready on call liquid cash reserve when needed.

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