If you’re an investor and not using a depreciation schedule for your property, you could be missing out on thousands of dollars in tax rebate. Costs and depreciation associated with your property can be deducted each year from your taxable income to improve your after-tax cash flow. Every circumstance is different but many investment properties…
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Local knowledge is hard to beat when it comes to choosing the right property manager to handle your rental property. A great property manager will maximise the return on investment on your property and minimise the stress of looking after the needs of your tenants. They will also know the pricing trends in your area,…
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Owning an investment property is a little like running a business. It provides a great source of income and builds personal wealth but inevitably comes with a series of costs that hit your bottom line. The great news for property investors is that many of these expenses are currently tax deductible. It is a common…
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It’s an asset that could earn more than $10,000 a year but should you really rent your spare room to a stranger? On the surface, it seems like easy money but there are several implications that might affect your decision. Here are the issues to consider: Tax Implications Any extra cash will be taxable, so…
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Finding a good tenant isn’t easy, but an experienced property manager can help you overcome the challenge. It’s essential you focus on a prescribed set of qualities that make a good tenant rather than rely on intuition or select an applicant simply because they look good on paper. Also, be aware that the Fair Housing…
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An investment property that sits empty for weeks will burn a hole in your pocket. Avoid this by working with your property manager on a plan to find a new, trustworthy tenant as soon as the current one leaves. Good tenants who pay their rent on time and respect your property are gold, and you…
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Horror stories of buying new apartments off the plan are easy to find but can blow the risks far out of proportion. To make a successful purchase, it’s essential you conduct your own research and take extensive advice from a financial adviser as well as your solicitor or conveyancer. They should be familiar with off-the-plan…
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Selecting a tenant for a rental property always carries an element of risk. A bad choice can cost thousands of dollars in unpaid rent, damage to property or both. There are no guarantees in property, but it is possible to enjoy the stress-free experience of renting property and building your personal wealth. But remember, there…
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Who hasn’t been on holiday and stopped at the window of the local real estate agent to dream about buying a holiday home to escape the rate race? Whether it’s a ski chalet, lakeside cabin or an apartment overlooking the beach, the idea of having your own bolthole in a beautiful part of the world…
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Rent-vesting is an increasingly mainstream strategy for those seeking to break into the property market or expand their portfolio without it having an impact on their lifestyle. It breaks the traditional approach of buying a property and living in it. Instead, you rent in the area you love and buy in the suburb you can…
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