We have just made a start on ours http://www.adprop.com.au

It has been months in the making : )

what does an average website cost these days? We don’t yet have a bill or quote for ours [blush2]

Investment Property Management
http://www.adprop.com.au

One thing to check out though, is if they are 14 days behind in rent and you DO evict them in the following 7 days, for a total process of 3 weeks….Could you claim the bond money in lost rent and time delay in finding new tenants?
If so, you aren’t behind money wise, just worse off for the inconvienience with the possibility of getting better…[Read more]

Try
moneybeans
or
REST by Rockend

Investment Property Management
http://www.adprop.com.au

We use feastudy to calculate all feasability on development.

Investment Property Management
http://www.adprop.com.au

We manage and set them up in SA (lease options that is not wraps!)

Xenia Ioannou-Mena
Adprop Pty Ltd.
Property Management and Sales
E: xenia@adprop.com.au
M. 0412 437 582

Hi James,

Just read your question again. YOUR reasons for wanting to do a wrap or lease option are:

Cash flow
Premimum sales price
Lower market risk
To help a tenant Purchase a home
Inceased Serviceability
etc….

Xenia Ioannou-Mena
Adprop Pty Ltd.
Property Management and Sales
E: xenia@adprop.com.au
M. 0412 437 582

I agree with Paul but also, even if people can get access to conventional loans, minor blemishes on their credit history may only entitle them to higher interest loan products. Some could be as high as 12%

Taking out an option to purchase for a couple of years will allow them to clean up their credit records and therefore qualify to a loan…[Read more]

RIGHT NOW!!!

It’s not about money, it’s about the way you think [biggrin]

Xenia Ioannou-Mena
Adprop Pty Ltd.
Property Management and Sales
E: xenia@adprop.com.au
M. 0412 437 582

You can increase the income from your properties (at least one of them) by giving the tenant an option to purchase, wrapping or providing vendor finance.
The extra income can service the other properties so you are not left pulling the plough.
Once your portfolio is overall positively geared, your wife can use her time at home to find more…[Read more]

Hi Paul,

Congratulations! That’s great news.
It is a scary start for most people, even if they know what to do in theory.
Do you have a web site?

In SA the risk of litigation is compounded by laws that other states don’t have and solicitors that are not familiar with real estate let alone options! It is a much needed service.

Xenia…[Read more]

ABSOLUTELY!!!!

I spent 3 weeks of solid work and came up with an 80 page business plan (40 pages of text plus contracts etc).

Only after this accomplishment did we finally start to see some money coming in.

3 things that are paramount to success are:

A Business Plan

A Marketing Plan

An Exit Strategy

And these should not be static documents…[Read more]

I’m from Adelaide too, I don’t know any positive cash flow specialising accountants (don’t even know if they exist!), but I do know some property accountants I can recomend!

Just wondering why you need them to specialise in positive cashflow????

Xenia Ioannou-Mena
Adprop Pty Ltd.
Property Management and Sales
E: xenia@adprop.com.au
M. 0412 437 582

thanks Guys,

I like Real Me In!!

We have already chosen AdProp Pty Ltd

The business has now commensed!

Xenia Ioannou-Mena
Adprop Pty Ltd.
Property Management and Sales
E: xenia@adprop.com.au
M. 0412 437 582

There are not many agents that offer this as a service (too hard).
we are the only ones in Adelaide that offer it as a property mangement service.

If you are in Adelaide, please email me, I can help out!

If not, then check with the tribunal in your state, it is not a normal tenancy as it applies only to the room. It is a rooming house…[Read more]

we have used renting out each room in a house to a different tenant on a different tenancy agreement.
Have done this successfully for both ourselves and for clients.
cash flow is increased from market rent of ~350 per week to ~700 per week for a 5 Br house.

Xenia Ioannou-Mena
Property Manager &
Property Sales Consultant
E: xenia@adprop.com.au
M.…[Read more]

Here is a simple one we did this week

purchase price $145,000
(valuation at $170,000)
Rent with option to purchase at $208,000
weekly income $350 per week with ~40% towards purchase in 2 years.
(market rent without option is ~150 per week)

Xenia Ioannou-Mena
Property Manager &
Property Sales Consultant
E: xenia@adprop.com.au
M. 0412 437 582

We started this way too, however after 5 properties we hit a brick wall when it came to financing and the bank said no more.

We were able to grow our portfolio even further by increasing the cash flow on some of the properties using creative investing techniques such as lease options. This inceased our serviceablilty and allowed us to buy more…[Read more]

I would be asking them whether they are licensed agents?
(some agencies view property management as secondary to sales and use a receptionist!)

How many years experience?

How many they manage? (should be less than 150)

If they have their own investment properties and how much of their income is derived from these properties?.

If they have no…[Read more]

Maybe they’re trying to cash in on the capital appreciation at the top of the market. It costs less to rent than it does to pay off a mortgage in an up market like Perth at the moment

As for RE agents advertising a lower price to attract people then selling $100,000 higher. Yes it is a tactic to play with peoples emotions but is also illegal, it…[Read more]

we just sold ours!

Our biggest problem was poor property management and lack of control.

For us, our money can work alot harder and faster when invested in Australian real estate!

Xenia Ioannou-Mena
Property Manager &
Property Sales Consultant
E: xenia@adprop.com.au
M. 0412 437 582