I have found contacting tenants to be useful. I’ve had managers call me about little things and when I contacted the tenants they just wanted permission to do a simple repair. Having said that there are 2 groups of tenants those who bug you continually about relatively minor things e.g dripping taps and those who recognise a problem and fix it…[Read more]

I think it is possible propertyjockey. We have what we consider a negatively geared property (although after tax it isn’t) it costs us $18/wk once all costs are considered: insurance, management fees (it is 1000kms away), rates, water rates and factoring in 4wks a year of no tenants. Many may consider that positively geared! Sure interest rates…[Read more]

Don’t get me started on renting. We have 3 IPs and we are also rental tenants. Firstly tenants are made to feel like second class citizens. When we have had to request repairs we have been told “I shouldn’t think they’d agree to that” this regarding a leaking tap that was damaging a bathroom cupboard in a 4 yr old house. The PM didn’t even discuss…[Read more]

When I was on maternity leave and our wage was therefore halved we did things like:
More vegetarian meals
Shopped for groceries with cash then we couldn’t go over our limit
If we ran out of something in the week there was no replacing it unless it was the day to do the grocery shopping
Left all credit cards in the filing cabinet
Called up our…[Read more]

I live in Northgate In SA the updated area next to Northfield. In Northgate properties are about $550-750K for an average 3 bedroom place and rents are about $370. The properties in Northfield are at times selling for ridiculous prices, it isn’t unusual to see an old weatherboard (old commission often) place sell for $260-300K and then within the…[Read more]

Due to other costs like insurance, rates (council and water – depending on how that is structured in your region) etc, I would be looking for something less than $120 000 if it was receiving $185 a week but that is just my take on it. I always aim to pay the bills and have something left to put toward either extra repayments or another deposit.…[Read more]

We self managed when we lived in the same city but now we live 1000kms away it is easier to have a professional manager. We have properties in 2 states and live in neither state! Also there are certainly some property managers to avoid at all costs and then there are those who are onto everything. We were originally told to go with a manager who…[Read more]

We put floating floorboards in our IP and it is really rather easy once you get the hang of it. It looks great and as we bought heavy duty ones it has ‘weathered’ tenant treatment very well. Our other IP has original floor boards and that was a lot of work sanding years of paint and general abuse off and then applying varnish. I’d go with floating…[Read more]

You do however have your assets protected against someone suing you as an individual don’t you? I know some people who are in the medical & law professions who purchase everything in a trust as that way they own nothing the trust does, so if they are sued they can’t have their assets taken from them.

I too am trying to decide what to do re trusts…[Read more]