Forum Replies Created
TO: Paul Dobson
Thankyou for explaining the distinction between houses and units as wrap possibilities.
TO: BIG ROB
Apologies for expressing your former name incorrectly.
MORTGAGE WIZARD
Doesn’t McKnight recommend only wrapping houses? Does he say this or I have mis-read the material?
A tip for you my friend.
1.Always let property managers collect rent and handle tenant queries/problems.
2. Never allow a property manager find new tenants for you. Always advertise yourself, interview and sign lease with new tenants.
Put simply, a single unlet property in a property managers portfolio may result in a $10 per week loss of income to a property manager so they do not care! Always let your property out yourself then hand the property to the property manager to collect rent and handle tenant queries. All property managers are generally hopeless. The reason is that the more properties the franchisee of a real estate agency manages the more income they derive, but at the expense of service to the landlord. Their profit margins are also only attractive if they employ staff to do the job and staff never take care of landlords like the owner of a business.
Help me everyone, it seems only logical that units are far more attractive in terms of comparable rental yields for intending purchasers than houses, so therefore if capital gain linked to underlying land component is irrelevant why wrap anything other than units/flats?
Dear Mortgage Wizard,
Do you have both units and houses you are using for wraps?
Do you know why wraps should not be done using units instead of houses?