Tinkerbell,

Maybe you should consider rewarding your managers instead of the tennants. That way your managers will want to look after you with getting you the best possible tennants that arn’t likely to do a runner on you. Also if your property comes up for a new lease guess whose property they are likely to rent first. Yours because they are getting an insentive to do so.
This little strategy has served me well. Addmittedly I only have 4 propertys but they have a combined vacancy rate of 6 days over the last 24 month, and i have not had any none paying, a current affair tennants as yet and don’t expect to. I look after my managers and they certainly look after me.

Of course if you manage the property yourself this won’t apply and maybe you should look at sacking your manager.

Gav.

“Happy Days”

Jason,

Try your state real estate institute or reiaustralia, in there you can get market reports and all that gumf. Be aware sometimes you may have to pay for some reports.

give it a go. think outside the square.

Gav.

“Happy Days”

Andrew,

I ask this very same question to my accountant about 3 months ago. She has other clients who are currently doing just that, but she said that there are new tax laws to guard against this. So she advised us against it.
I guess you still can do it but is it worth the risk is the question we asked ourselves and one that you have to ask yourself.
Talk to your accountant and if they don’t know about it then find another accountant.

Gav

“Happy Days”

stevie,

The only thing i don’t like about big complexes is the value of the property is driven by the last sale price in the complex. Meaning if you have an inexperienced investor who has geared themselves to much and needs to sell in a hurry they sell it way under value, and guess what that will be the value of your investment.
There are far better investments to be had.

happy days

gav

g’day elves,

I am very new to this forum so take this advise for what it is.
It sounds to me that you are fairly switched on financially, but one question i have to ask is, Why so many credit cards? Everyone knows that they effect your borrowing capacity.
My mother has a credit card with a limit of 50k and she thinks it is a measure of how wealthy she is.
And i keep telling her it is a measure of how nieve she is.
Anywho i guess you will do what you will do. If it was me in your situation i would do as others have said pay the debt down reduce my credit limit to one card of say 3k then invest the rest.

Happy days

Gav.

g’day waz,

I am a newbie as well and am currently looking in mount isa. I don’t really have an answer to your question but i just wanted to give you some support that someone else out there is also looking in mining towns.

Cheers gav.