Property Investment           File Management Programs 
A Few Important Tips Don't give the tax man any more money that you have too! Getting a depreciation schedule made by a qualified quantity surveyor can be one of the most important things you can do to turn an under performing property into quite a performer. Below are a few sample pages from one of my depreciation schedules.
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Don't wait for the tax man to give you your refund The Australian Government lets you reduce the amount of tax you pay during the year by filling out a Income Tax Withholding Variation (ITWV) form. They will then work out what your tax deductions will be for the end of the financial year based on the information you provide and instead of paying your usual amount of tax, they inform your employer to take out less tax during the year. This is putting extra money in your pocket each week/month, that you can use towards a deposit for another home or if you have a mortgage on your on home, it helps you pay it off sooner.
Make a Business Decision Remember that buying an investment property is a business decision. It does not matter if you personally like the property or not. The key is to make a good business decision and buy a property that will make you money. |
Problem Tenants Create
Headaches For Landlords
By Lee Bell Even though problem tenants may not be widespread in the business, it is very likely that every landlord will at some time rent a home to one. Now you could possibly be thinking this could never happen to you thanks to thorough background and reference checks that you complete for every would-be tenant. Be forewarned, if you plan to keep on owning rental property for any length of time, you will likely have to deal with a problem tenant eventually. Landlords Have Choices When Tenants Violate the Lease The offenses of problem tenants encompass everything from noisy parties to drug dealing. They sometimes destroy property or chronically pay late. How a landlord handles problem tenants will depend entirely on how often a tenant causes problems and the degree of the problem. A tenant who plays loud music or leaves garbage outside the unit should be handled differently than someone who is running a criminal operation such as drug dealing from their rental home. Tenants who commit minor offenses may respond to a notice and suppress their offensive behavior, which would save you time and money. Nevertheless, make sure that you keep comprehensive records of the complaints against tenants and any notices you send. If the lease violations continue or escalate, such records will help your case for eviction if you have to take it to court. Landlords have other choices for handling tenants who cause minor problems without starting the eviction process. If notices have not been responded to and the renter continues to break the rules of the lease, you can attempt negotiation on your own or with a mediator. If you are frustrated with that tenant and you want them to move out of your rental home without having to officially evict them, it is possible that third party that they trust can save you the expense of an eviction by advising them to leave. Nevertheless, serious problems can not be handled through notices or arbitration. Get in touch with the police if you suspect that a tenant participates in illegal activities. You will still be required to evict those lessees, even if they are convicted of a crime, since the police can not force them to quit the premises. Act Cautiously if You Think that Tenants Have Abandoned Your Rental Home Landlords cannot construe that lessees have abandoned rental properties without checking to make sure. You have to have reasonable proof of abandonment before removing renter's possessions. Measures you can take include questioning the neighbors, examining the rental home yourself and calling the nearest post office to see if they put in a forwarding address. Be sure to check the rental laws in your locality to find out how long you have to store abandoned belongings before you can legally dispose of them and what you must do to notify the tenants about the possessions they left behind.
Article Source:
http://EzineArticles.com/?expert=Lee_Bell
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Don't wait to long I would be a much wealthier person today if I had not procrastinated so long on what and where to buy. Imagine this... over 5 years you buy 5 houses, each worth about $200,000. Now also assume that you have used none of your own money for the purchase, except a small amount on each as a deposit. Now we all know that property inflation has been sitting between 5% and 25%. For this example we will assume the worst and use a 5% increase on our 5 houses worth above $200,000 each. This is $50,000 a year in equity being built up each year to put towards your retirement
See the Importance of a Positive Cash Flow The link below provides all the details on the importance of finding Positive Cash Flow properties. Don't buy an investment property until you have read this page. Also provides a few working examples so you may see the affects before your own eyes. Negative Gearing... Friend or Foe?
Buy Like a Professional With this software you no longer have to worry about making a wrong decision. Imagine having the combined confidence of a Land Agent, a Accountant and a Property Tycoon all rolled into one.
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