Forum Replies Created
Hey Westan,
Man there’s a concept that I hadn’t heard since the 80’s!!! Didn’t even know if was still going.
Don’t know how good it is, but hope others do, as I would enjoy reading the info myself.
Jo
Originally posted by kp:Unless your tax deductions are “non cost” deductions like depreciation for example, then it is self delusional to say that reducing the tax you pay such that you end up in a lower tax bracket is effective.
You are in effect spending a dollar to get 48.5c back in the top bracket, and spending a dollar to get back even less in the lower tax brackets.KP, I am not an accountant, but that would have to be one of the most intelligent, financially down-to-earth statements I have read in this forum to date!!! [medieval] You’ve made my day!!! [thumbsupanim][laugh4][lmao][laugh4]
Hi John & Lois,
Try this:
It is a little bit more up-to-date, and may be of added interest along with other links provided to you.
The rpdata reports (as per the one above) is provided free, and give a good quick overview of the postcode you are researching. Unfortunately, these reports are now no longer available for people such as myself in Victoria, but for those in NSW, Qld, SA & WA it is still free and definitely worth a look. They also have excellent (more detailed) reports but these are at a cost, and again, are not available to Victorians. [glum2]
Do not stop there though, there is a great deal of information available in this forum, on the net and in libraries. Remember….research, research, research. Make that the key and sooner or later, you will open the door to your ideally suited investment property.
Good luck,
Jo
Marc said:
To say “I don’t do that” simply means “I do not do that consciously”…Aka “denial”; an integral part of our survival mechanism and the programming to which you are referring.
Cheers,
Jo
Hi Marisa,
I know this doesn’t impact on you, but for others out there:
FYI http://www.rpdata.com.au no longer provides a free suburb report for any Victorian postcode [glum2]
Jo
Salicious,
I don’t think it really matters, especially as these days, if you were going to render it for instance, whose going to notice and/or for that matter care?? People tend to view buildings of interest (for example) “fibro vs weatherboard” or “weatherboard vs brick” not “brick vs brick”; as long as it isn’t going to fall down around their ears, I don’t believe its material construction will affect your re-sale value.
If it works for you, and you’re happy with the result, then that’s great.
Jo
Hey Misty,
Can’t recall if you ever mentioned it or not, but if it’s okay to ask, how long have you been investing in property?? You seem to be disillusioned at times, which is sad, because albeit a challenging form of investing (depending on the market, vacancy rates etc etc) it has it’s good moments.
I do know how you feel at times, and believe me, I started when I was 18, got the tenants from hell straight off the bat, they got months and months behind in the rent, I was managing it myself (naive and thinking I knew it all) and when I tried to take possession of my IP (which was my very first home) out of spite and viciousness, the little darlings torched it to the ground!!! [bawl]
Now that’s enough to make anyone want to throw in the towel, but I didn’t; I stuck it out, perserved, got savvy and thanks to determination, due diligence and a little elbow grease, I can afford to sit on my hiney all day every day without worrying about money ever again!!
Okay okay, I hear you…my point: It’s a hard slog sure, but keep at it, and one day you’ll leave people like me for dead!!!
Go girl!!!! [medieval]
Jo
Hi kp,
Yes you’re right as far as negotiations are concerned, one can only but ask. And at the end of the day, after exhausting all avenues, and talking till your blue in the face, if the PM refuses to budge, then yes, you only have two options, accept the rates specified or find another PM. Oops sorry, option three (as you are already doing) manage the IP yourself!!
From the posts here, I’d say that for WA 7% is not a huge ask, and as long as you’re happy with the service, you’re doing fine!! [medieval]
Cheers,
Jo
Misty,
Did you not tell them that 2 of the 3 properties in question were presently / to be tenanted?
A quick lesson: never ASSUME anything especially if it involves you paying over money for goods and/or services. If they don’t ask; you make it a point to TELL them EXACTLY what you require!!!
If not satisfied, and obviously paying for tenants contents would not sit well with many I’d imagine, CANCEL the policies, after shopping around, and this time…..ASK !!!
Good luck,
Jo
Hi Marisa,
I use the one insurance company for all my home/contents/landlord/car needs, and by having all the policies with one provider, I am offered a nice little discount. I am sure most insurers will do likewise for you too; but do shop around first for the best deals.
Cheers,
Jo
Hi jsandso,
I understand your question and would like to answer simply by saying, not necessarily. That is, I have had both good and bad tenants, and not always as the result of doing the screening myself.
Basically, there are no guarantees of attracting good or bad tenants either directly or through a PM, and as already stated, I have done both, with mixed results. I do tend to agree with the views shared by most here, that going through an independant party (ie. a PM) tends to remove you (the landlord) from the picture somewhat, and therefore can make things alot easier in both the short and long term.
What I would enourage/emphasise however, is not to include your home phone number, but rather put your mobile number in the ad.
Cheers,
Jo
P.S. If moderators intend to edit my or anyone else’s posts, please have the courtesy of advising me/them accordingly. It was a practise I employed and would appreciate the same in return. Many thanks!
Are you disciplined enough to use a credit card??? But a very LARGE one???
A line of credit (LOC) works well for many, but if you have a problem putting money back in, you could get yourself “maxed out” and in deep water later on. The key here is DISCIPLINE.
I have so many….but geez if I had to choose one it would have to be…
[smash] Shawshank Redemption [smash]
Shhhh Benson…(it’ll be our little secret okay???) [winking][winking] Maybe if I’m lucky, no one will notice!!! [whistle] [lmao]
Don’t know about that Pelican; don’t go counting your eggs just yet!!! Oops sorry, that’s for chickens isn’t it??? And you’re a……??? (Yeah I know, not a duck) [laugh4][laugh4][laugh4]
[blush2] Thanks too Hotshot, you’re sweet!!! [blush2]
Originally posted by yack:I will start with Vic: Surburbs of Melb. Well for me anyway. (Me too Yack)
Management Fee 5 to 7% + GST. In my case its 5% as I have multiple properties.
Poperty Condition Report – Included
Quarterly Inspection – Included
Bond Inspection – Included
Letting Fee 1 wks rent + GST
Postage & Petties – $3 Statement Fee
Annual Rental Statement – IncludedFor me, same as Yack above, except for the statement fee which in my case is $2.
IMHO PM costs like anything else, are open to negotiation. If you don’t like the charges but you also don’t want to shop around for a new PM, then stop whining and talk it over; you might be pleasantly surprised!!!Originally posted by Aceyducey:Frankly I see extremely limited value in buyers’ agents. Most people using them would be far better off making the time investment in their own future financial success, not trying to employ another type of consultant to succeed for them.
I also feed myself & wipe my own backside on the toilet rather than employing consultants to do those things for me as well.
Touché Ace!!! [medieval] Eloquently put!!! [specool]
Hi Steve,
After re-reading your post, I got the impression your offer (that the agent refused to submit) was not a counter offer, but rather your first offer; is that correct?
If so, then hate to say, but you were not “gazumped” you were (as Aussie said) just too late!!
Cheers,
Jo
I wish!!! [blink]
Don’t think so WAF, for starters I’m not a redhead, but thanks all same!! [blush2]Hi Wilf and Norene,
I agree, I feel for all parties concerned. It is, as I said “dirty pool” and although underhanded behaviour, it does happen from time to time, and if you’re unfortunate enough to be exposed to it; it becomes very frustrating!!
There is a great deal of trust that goes into both buying and selling property, for all involved to supposedly “do the right thing”; ah yes well maybe in an ideal world, but alas not always so in the “real” one!! [glum2]
Cheers,
Jo
