Forum Replies Created
Hiya Freedom,
Without knowing then details i would say do what makes you happy.
The possibilities are endless.You good look and selling a couple and clearing some debt or using equity in those property to grow your empire. Or just let them sit and let the cash flow.
If you enjoy it go hard.
Goodluck with you decision
Cheers
JoshOh and i forget to mention
GOOD LUCK
JoshOne idea to market your property is to do like a REA and drop flyers to everyone in your street. People often like to buy properties close by (not something i would personally do) also your neighbours may have friends or family that they want to move into the neighbourhood.
The other thing i would suggest when you market your property is time all your advertising to start within 3 or 4 days really explode it on to the market. Then if you are going to have a open home don’t let anyone through prior to you first one. Or alternatively if you don’t have open homes then try to schedule viewings close together or so they overlap. This creates less hassle for you and your tenants and hopefully create some competition between your buyers.
Thanks BB,
Will definetly be looking into it more.
Interviews with Mortgage Brokers next week is my next stop.
Thanks Marc
No i haven’t got public liability insurance will definatly be looking into it.
Depreciable expense? Dont no much about it but will be looking into it. I’m sure there will be thread on it.
Cheers
JoshCheers for the feedback Marc and Wayne. I see now that option b would be the better option. I have also looked back at my current situation and looking at running my own home more affectively to acheive more positive income from it.
I quickly realised that i was charging under market value for rent. I also added a couple of features to justify an even higher rent rise. Originally i was charging the 2 guys $80 a week each. I asked the guys if they would be happy to pay $100 a week rent each and also told them i would give them access to my internet. They were happy with this as the new they were getting a good deal anyway. The standard market value would be $90.
So by offering a feature that i would pay for anyway the 2 guys give me $10 over M.V. rent. Win Win.
I also asked what else they would like that would justify more of a rent increase to them. Both would pay more rent if i got a spa pool. So currently doing my sums to see how much more rent i would need them to pay to justify it.
Cheers Josh
