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Add You - Rental Investment Property
Closing on a property is a big occasion for many of us, and as such, Realtors should put some thought into the closing gifts they bestow upon their clients. But, because they are so busy, many agents seem to be stuck in a gift-giving rut, settling on giving a gift card to a big-box retailer or a bottle of wine. Both are fine gifts, but what kind of "staying power" do these gifts really have? No a lot.So, why not change the paradigm? After all, it is better to give than receive, so why not have some fun with our gifts -
So, if I did not have a tenant, my cash flow for the month would be minus $1,153.
Yes, I can claim it all on tax but my cash flow is affected so this is what I did to make sure a tenant was found straight away.
There were 12 units in the block ready to let at the
Debt consolidation essentiality means taking one loan to pay off all other loans. It's almost always easier to pay off one loan at a lower interest rate or fixed interest rate, than to pay off many at varied rates. Most individuals have a credit card debt, a mortgage, and sometimes a second mortgage to pay off. Now with three loans and three different interest rates, it is far more difficult to manage the payments than to pay off just one loan.The idea is usually to take a secured loan to pay off the other unsecured loa
Many people are scared of investing because they think it will be hard to always have a tenant. It's like trying to beg a dog to stay, but is it?
1st mistake people make - Most people that invest in property get emotionally attached to it instead of treating it like a business.
For example: Let's say you own a fruit shop and your oranges are selling at $2 a kilo. But for some unknown reason they are not selling at all and you don't know why.
What would you do?
Then you find out that the fruit shop just down the road is selling his oranges for only $1.60 a kilo.
So tell me... wouldn't it be business sense that you reduce your prices or promote why you oranges are so good?
That's exactly how rental investment property work - I know you can rent out anything at the right price! I personally have never had any of my Investment Properties without a tenant for more than 2 weeks. Let me tell you a true story about what happened to me 5 years ago.
I purchased a refurbished 2 bedroom unit in Altona Melbourne, over the phone. Yes, I purchased it over the phone!
Most importantly, I knew all about this Investment. It met all the criteria's of a good Investment (we have a 30 point criteria check list before we recommend any property to our clients).
The Investment, plus costs (with all loan costs, stamp duty etc) =$205,000 Interest rate = 7.5% Monthly Repayments on Interest Only Loan=$1,153 per month
So, if I did not have a tenant, my cash flow for the month would be minus $1,153.
Yes, I can claim it all on tax but my cash flow is affected so this is what I did to make sure a tenant was found straight away.
There were 12 units in the block ready to let at the
Balloon loans are ideal for those that don’t have a steady job and thus can’t afford a fixed high monthly payment every month. Balloon mortgages provide a lot of flexibility as only minimum payments are necessary during the repayment program that usually consists only of interests and a small portion of the capital. However, at the end of the term or due date the borrower will have to cancel the remaining capital all at once.Balloon Mortgages: How Do They Work? Balloon mortgages are just like regular mort
What would you do?
Then you find out that the fruit shop just down the road is selling his oranges for only $1.60 a kilo.
So tell me... wouldn't it be business sense that you reduce your prices or promote why you oranges are so good?
That's exactly how rental investment property work - I know you can rent out anything at the right price! I personally have never had any of my Investment Properties without a tenant for more than 2 weeks. Let me tell you a true story about what happened to me 5 years ago.
I purchased a refurbished 2 bedroom unit in Altona Melbourne, over the phone. Yes, I purchased it over the phone!
Most importantly, I knew all about this Investment. It met all the criteria's of a good Investment (we have a 30 point criteria check list before we recommend any property to our clients).
The Investment, plus costs (with all loan costs, stamp duty etc) =$205,000 Interest rate = 7.5% Monthly Repayments on Interest Only Loan=$1,153 per month
So, if I did not have a tenant, my cash flow for the month would be minus $1,153.
Yes, I can claim it all on tax but my cash flow is affected so this is what I did to make sure a tenant was found straight away.
There were 12 units in the block ready to let at the
Level term life insurance, the most common form of term life insurance, is a life insurance policy that gets straight to the point. It’s similar to regular term life insurance in that it provides pure life insurance coverage when you need it with none of the frills of whole life insurance, such as forced savings components.Level term life insurance has a guaranteed level premium, and you aren’t required to annually renew the policy. The insurance premium stays the same for a set period of time – the length of time for w
That's exactly how rental investment property work - I know you can rent out anything at the right price! I personally have never had any of my Investment Properties without a tenant for more than 2 weeks. Let me tell you a true story about what happened to me 5 years ago.
I purchased a refurbished 2 bedroom unit in Altona Melbourne, over the phone. Yes, I purchased it over the phone!
Most importantly, I knew all about this Investment. It met all the criteria's of a good Investment (we have a 30 point criteria check list before we recommend any property to our clients).
The Investment, plus costs (with all loan costs, stamp duty etc) =$205,000 Interest rate = 7.5% Monthly Repayments on Interest Only Loan=$1,153 per month
So, if I did not have a tenant, my cash flow for the month would be minus $1,153.
Yes, I can claim it all on tax but my cash flow is affected so this is what I did to make sure a tenant was found straight away.
There were 12 units in the block ready to let at the
Last time, we started to take a look at the most common reasons why most people don't make progress on their e-commerce and Internet marketing goals. Today, we continue the discussion. [See part 1 of this article at http://www.ecommercediva.com/articles/excuses2.html]-------------------------------------------------Excuse #5: " I just don't have time. I'm too busy dealing with [customers, clients, day job, family, etc.] to deal with my web site."-------------------------------------------------<
Most importantly, I knew all about this Investment. It met all the criteria's of a good Investment (we have a 30 point criteria check list before we recommend any property to our clients).
The Investment, plus costs (with all loan costs, stamp duty etc) =$205,000 Interest rate = 7.5% Monthly Repayments on Interest Only Loan=$1,153 per month
So, if I did not have a tenant, my cash flow for the month would be minus $1,153.
Yes, I can claim it all on tax but my cash flow is affected so this is what I did to make sure a tenant was found straight away.
There were 12 units in the block ready to let at the
After your account has been opened with your web host and you've set the DNS for your website (see Parts 1 and 2 for more information) you can start to upload your content. The most common way this is done is through FTP (File Transfer Protocol) software, but there are a few other options as well.The FTP protocol lets you transfer data files from one computer to another. Your web hosting company will give you the information you need to connect to your site with FTP.You normally would use software like WS_FTP or
So, if I did not have a tenant, my cash flow for the month would be minus $1,153.
Yes, I can claim it all on tax but my cash flow is affected so this is what I did to make sure a tenant was found straight away.
There were 12 units in the block ready to let at the same time, with the recommended rental of $175 per week. I told my property manager to rent mine out at $10 cheaper than any other 2 bedroom units in the block.
Guess what? My Investment was rented out that week!
Too many Investors get emotionally attached to their Investments - don't let this happen to you! You must check what properties like your investment are renting for in the area. Sometimes you may be out by just $5-$10 per week, so do some homework.
The great thing about this homework is that it will only take you two hours or less.
When I perform my six month reviews, I cover this subject in detail and actually help my clients through this process. When a client comes to me saying their investment is costing them more than what we estimated at the beginning, I always find the reason why.
I guess its human nature that we personally analyse and think about what is best for us. I will work and set up a client with everything they need to know to be successful and then they talk to their well-meaning relatives, neighbours, plumber even postman! I've even had Bank Managers and Accountants ruin it for my clients.
I believe that if I want advice from someone, I hire people trained and experienced in that field, just like repairing a hot water service.
The other day our hot water service stopped working and I went outside to have a look at it and then I just realized I did not have a clue what a
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