Before we start, remember, Property Friends is not a financial advisor and we do not provide financial advice. However, our dealings with hundreds of investors’ means we hear many stories and pick up a lot of information that relates to the financial side of property investing. No one wants to make costly mistakes with their [...]
Many people believe the key to creating wealth is by working hard….but unfortunately hard work doesn’t work. Most people are on a treadmill, trading hours for dollars. They work hard and get paid by the hour, but there are only so many hours you can work and only so many dollars you can earn per [...]
More often than not, you hear about how to ensure that your landlord is trustworthy and credible. It is not very often that you hear about how to ensure that your tenant is trustworthy. And this is a big point for many landlords. You certainly do not want to have a tenant in your investment [...]
For some people, the thought of paying a professional a fee scares them. They think they can complete the service themselves and save some dollars and feel confident in their choice.Unfortunately, the reality is quite the opposite.When purchasers decide they want to get into property investment or add to their property portfolio, the first thing [...]
Instead of waiting until the end of the tax year to get your hands on any tax refund you are eligible for, it may be possible for you to get that tax refund pro-rated every week/month as you go. If you have tax withheld from your pay and you are being paid a salary under [...]
As many of us have investment properties interstate we thought it would be helpful to clarify what you are entitled to claim as expenses when travelling to inspect your property. You can continue to claim a deduction for the cost of travel you incurred to inspect or maintain rental properties or to collect rent if [...]
Your rental property will qualify for certain tax depreciation credits and capital allowances. It’s important that you take advantage of these to maximise the tax credits you may be eligible for. The potential allowance for depreciation and building costs write off will depend on the buildings age, type, use, and construction cost. With our house [...]
There are obvious benefits to us as investors in making sure we keep increasing the rents on our properties in line with market forces. Putting the rent up at the end of a lease or change of tenant is something we should be diligently trying to achieve in consultation with our rental agents. Yes, it [...]
After dealing with so many investors - we’d thought we’d share some tips that we’ve found can help you pay off your mortgage faster, save big of dollars and beat the banks at their own game. 1. Add a little, often to your repayments If your mortgage repayment is $1,000 organise to increase this payment [...]
Many people feel property investment is an older person’s game. WRONG! At Property Friends we have a number of investors who are under 30. Why wait? A lot of potential investors put the property in the “maybe later basket”. Historically, house prices have doubled every 7-10 years. Younger investors have time to experience that second [...]
