I have been investing for some time now & I should be doing well. However it seems that everything turns to custard constantly.
I have several properties in a Regional area that I want to sell, but can't due to stupid PM's & tradies. It is a long story, but it means that I am screwed. I have tenants that winge & whine constantly in the same properties who are always late with rent & the maintenance costs are off the roof.
I have several IP's that are reasonably close to home that constantly are a source of headache as, despite a good PM, the tenants start off well, then turn into tenants from hell who need to be evicted. The latest ones have damaged the property & stopped paying rent (we need that for Christmas) but the tribunal said "There's kids involved, lets give them one more chance." Meanwhile they are effectively stealing $230pw from me & get off scott free. It just isn't fair! I've got kids too. What about the fact that I have no money to provide for them because of drop kicks like this.
I also have huge losses due to the wrong structure due to bad advice many years ago. We won't go there, suffice to say that I am paying around $30k pa that can not be neg geared as it is quarantined.
So, here I am, struggling financially while 3 of my 15 tenants live it up (courtesy of me, the "rich" landlord).
My expenses keep going up, my equity keeps going down to help pay for the expenses. Rents have gone up slightly, but not as much as the interest rates, AND to cap it all off my wage is going nowhere fast.
Don't get me wrong, a few of my IP's are great & there has never been a problem, but they are in the minority. I am so frustrated.
I have several properties in a Regional area that I want to sell, but can't due to stupid PM's & tradies. It is a long story, but it means that I am screwed. I have tenants that winge & whine constantly in the same properties who are always late with rent & the maintenance costs are off the roof.
I have several IP's that are reasonably close to home that constantly are a source of headache as, despite a good PM, the tenants start off well, then turn into tenants from hell who need to be evicted. The latest ones have damaged the property & stopped paying rent (we need that for Christmas) but the tribunal said "There's kids involved, lets give them one more chance." Meanwhile they are effectively stealing $230pw from me & get off scott free. It just isn't fair! I've got kids too. What about the fact that I have no money to provide for them because of drop kicks like this.
I also have huge losses due to the wrong structure due to bad advice many years ago. We won't go there, suffice to say that I am paying around $30k pa that can not be neg geared as it is quarantined.
So, here I am, struggling financially while 3 of my 15 tenants live it up (courtesy of me, the "rich" landlord).
My expenses keep going up, my equity keeps going down to help pay for the expenses. Rents have gone up slightly, but not as much as the interest rates, AND to cap it all off my wage is going nowhere fast.
Don't get me wrong, a few of my IP's are great & there has never been a problem, but they are in the minority. I am so frustrated.