I do like property

[Brenda Irwin]

Since I have been asking so many questions about shares, I thought I would let you all know, I do still like property.

It's just that shares are new to me so I like to talk about and learn about them. My properties, since I have them every day aren't a novelty but stuff still happens with them too.

Property news: I have two annoying tenants who are always 8 days behind in rent with a little credit from last payment, so my PM's software doesn't alert them to arrears. It would be awfully nice if the tenants would pay up to date every month.

I sold a couple of properties to pay for my beach house and this months PM statement shows part of the rent from my statement being credited to the new owner. Trouble is that one of the amounts was taken from the wrong house. I didn't sell that one.

I have one which needs an update and a reno, but the tenant hasn't moved out even though she was asked to months ago. Seems there is a shortage of rentals available and she can't find one. She'd better soon, and she won't be too happy with no kitchen, or water or bathroom available when I start the reno.

Couple of taps and pipes needed fixing, and a smoke alarm reinstalled. Nothing especially exciting happening with my properties at present which is why I have become interested with the sharemarket. It's new to me.

 

[ChrisOs]

Hi Brenda,
It's good to know that you haven't turned your back on property altogether . And it certainly can't be boring given the tenant issues you have at present. Maybe you are just such an experienced property investor that you have seen it all before and it has lost some of the excitement it may have held for you.

I recently attended an introductory shares course run by the WEA. It covered all the basics and has helped to "point me in the right direction". The whole share market/share trading business appears far more exciting (in terms of potential adrenalin rush) than property because of the ability to track prices on a day by day basis but I can't get myself motivated to learn enough to feel confident enough to take the next steps. I am registered with CommSec and it has a lot of information available; maybe more experienced share investors may not believe so but for a novice it is all rather daunting.

I have just purchased IP number 6 so it will be a while before I feel I have sufficient funds available to invest in the share market but I certainly hope it turns out well for you Brenda.

Regards,
Chris.

 

[Xenia]

Have to admit, the share market is much "cleaner" with no late rents, repairs etc. But I also still like property It is also less volatile

 

[Simon]

It is also less volatile

Lack of a daily offer system makes it seem less volatile.

Imagine if you had an offer every single working day on a property.

What do you think the spread between highest and lowest might be?

Pretty large if you consider the lowballers and the homebuyers who fall in love with the kitchen ...

 

[Brenda Irwin]

Hi Brenda,
I have just purchased IP number 6 so it will be a while before I feel I have sufficient funds available to invest in the share market but I certainly hope it turns out well for you Brenda.
Regards,
Chris.

Gee, you're hooking along well. Number 6 already! Good on you Chris.

I just thought of a good thing about shares; no land tax.

 

[Ausprop]

I like shares for the regular income, property for being able to add instnt value and ferret out hidden value

 

[jingo]

Hi Brenda,

Enjoyed your post as I can relate to some of the things you have mentioned.


It's just that shares are new to me so I like to talk about and learn about them. My properties, since I have them every day aren't a novelty but stuff still happens with them too.

Also have some shares - have had them for a while, but am still learning a lot about them. Others have mentioned that they are in a sense easier to manage as you don't have to worry about late rent, maintenance issues, land tax, rates, etc, etc. I would agree entirely. Except, at least with property it can't be transfered without your permission. (Well, spose it can if you miss mortgage payments!). Here is what has happened with some of the shares I own recently.....

I have had some promina shares and these were taken over by suncorp metway. I must have missed the info regarding swapping the units over to suncorp and received a cheque in the mail for the value of my old promina shares

Also, used to own MIG shares (Macquarie infrastructure group). At some stage last year some of these were converted to Sydney Road Group shares. As if there wasn't already enough shuffling around, recently transurban has taken over SRG! So annoying!!! So, when the form came asking me if I'd like to transfer the units over to transurban I acted promptly as I didn't want another cheque in the mail then having to reinvest it in some other shares again! lol!!

So I guess with shares you never know what they may transform into next!!!


Property news: I have two annoying tenants who are always 8 days behind in rent with a little credit from last payment, so my PM's software doesn't alert them to arrears. It would be awfully nice if the tenants would pay up to date every month.

mmmm..... I have just returned from inspecting two of my IPs in Frankston. Both tenants are in arrears. One has just reached the 14 day limit and will be sent the letter to vacate. The other is tinkering on the edge. These tenants have been approximately 8-10 days behind with their rent as well Brenda. Its frustrating as they are both on a lease. One expires in August, the other in October. My PM is fantastic, and is dealing with the situation very well. Luckily we have rental default insurance if the situation worsens. Very depressing!!!!!! I agree with you, why don't tenants just pay their rent!

A beach house - gee that sounds great Brenda. Maybe I should sell everything up and buy myself a nice PPOR and go on centrelink payments like my tenants in Frankston! lol! (Except they don't own the house of course!!)

I hope your renovations go well. Maybe the tenant can help you if they want to stay there!!

Anyway, enough of my news for now!

Regards Jingo.

 

[jingo]

Hi Brenda,

Enjoyed your post as I can relate to some of the things you have mentioned.


It's just that shares are new to me so I like to talk about and learn about them. My properties, since I have them every day aren't a novelty but stuff still happens with them too.

Also have some shares - have had them for a while, but am still learning a lot about them. Others have mentioned that they are in a sense easier to manage as you don't have to worry about late rent, maintenance issues, land tax, rates, etc, etc. I would agree entirely. Except, at least with property it can't be sold underneath you. (Well, spose it can if you miss mortgage payments!). Here is what has happened with some of the shares I own recently.....

I have had some promina shares and these were taken over by suncorp metway. I must have missed the info regarding swapping the units over to suncorp and received a cheque in the mail for the value of my old promina shares

Also, used to own MIG shares (Macquarie infrastructure group). At some stage last year some of these were converted to Sydney Road Group shares. As if there wasn't already enough shuffling around, recently transurban has taken over SRG! So annoying!!! So, when the form came asking me if I'd like to transfer the units over to transurban I acted promptly as I didn't want another cheque in the mail then having to reinvest it in some other shares again! lol!!

So I guess with shares you never know what they company they may transform into next!!!


Property news: I have two annoying tenants who are always 8 days behind in rent with a little credit from last payment, so my PM's software doesn't alert them to arrears. It would be awfully nice if the tenants would pay up to date every month.

mmmm..... I have just returned from inspecting two of my IPs in Frankston. Both tenants are in arrears. One has just reached the 14 day limit and will be sent the letter to vacate. The other is tinkering on the edge. These tenants have been approximately 8-10 days behind with their rent as well Brenda. Its frustrating as they are both on a lease. One expires in August, the other in October. My PM is fantastic, and is dealing with the situation very well. Luckily we have rental default insurance if the situation worsens. Very depressing!!!!!! I agree with you, why don't tenants just pay their rent!

A beach house - gee that sounds great Brenda. Maybe I should sell everything up and buy myself a nice PPOR and go on centrelink payments like my tenants in Frankston! lol! (Except they don't own the house of course!!)

I hope your renovations go well. Maybe the tenant can help you if they want to stay there!!

Anyway, enough of my news for now!

Regards Jingo.