14 Success Team Members Part 5 6. Building Inspector and Pest Inspector When you have gone to contract on a property, you will need to find a Building Inspector and a Pest Inspector. Ask questions and find out who is reliable and thorough. Make it your business...
14 Success Team Members Part 4 5. Real Estate Agents You will build up a team of Real Estate Agents as you research properties for sale in your target areas. Talk to Real Estate Agents, tell them what you are doing and ask them about their town...
14 Success Team Members Part 3 3. Solicitors / Accountant / Insurance Broker I group the team members 3, 4 and 5 together as they fall into the same category. Of course, from here it takes time to build a strong network with your very own success team....
14 Success Team Members Part 2 1. Your own office space Before you even begin, I believe it is extremely important to organise your home office space. Once you get involved in property investing, rentals, tenants, renovations etc., the paperwork will multiply, and record keeping is a...
14 Success Team Members Here is a list that is a good place to start: Your own office space Family / close friends / likeminded people Solicitor/s Accountant Finance broker Real estate agents Property managers Valuers Building inspector / pest inspector Building industry consultants, g. town...
Building A Success Team Behind every successful person, there is a loyal and trusted team of people with a wealth of knowledge and expertise in their field. This is the team that has been put together along the way, by developing an excellent rapport with them. How...
‘Interest Only’ Rule of Thumb In most cases we refer to ‘interest only’ as a rule of thumb. It depends on the council, it depends on how much rates you pay. It depends on whether it is a high security area, whether it floods, how much...
‘Principle and interest’ or ‘interest only’? When doing investment properties as a general rule have them at interest only. Sometimes a bank will not let you into a deal on that scenario, depending on your income and your debt levels for example. In which case, if...
Percentage Point Split Now, remember the ‘rule of two’ does not work for commercial properties. When you are talking about valuations on a commercial property; the higher the rental yield, the higher the value on the property. But how do you tell whether a commercial property is...
Commercial property and the Rule of Two The next distinction to be made here is that this formula does not apply to commercial property. When you look at commercial property, your outgoings are normally paid by your tenant. Sometimes even your insurances are paid by your...