Self Management - Managed... the ratio?
- Thread starter duncan_m
- Start date
Duncan M,duncan_m said:Hi,
I was curious what percentage of investors self-manage one or more of their properties?
So I've attached a poll
I voted for self-manage not that i have anything against R/E property
managers.But we only have 2 ip's left now and if you have the right
property software then half the job is already done, the rest is easy.
good luck willair..
I have a property (three cottages) which I have self managed for a few years.willair said:
But, I would have gladly paid a PM to evict a great tenant
Just like being a boss- I hate firing people. But I have to do it frequently.
Property software
May I ask what software you have found the most useful and which software you prefer not to use?willair said:
GGumpshots,ggumpshots said:
I have only started using property management software for my last 2 tax
returns prior to that everything was kept in empty beer cartons under my
office desk,so when the tax year ended it was a very stressfull time to
find all the paper work, i still think the ATO owes me money.
The software is from www.moneybeans.com all i do now is add everything
in each week and then when this time of year comes around everything is
in place, it is worth every cent for all the worry and stress that tax time use to give me.
good luck willair..
PS/I know very little about p/m sofware there may be better programes around but for the cost i'm happy with the way it works..
willair said:
Were the beer cartoons really empty when doing your tax?
I think they
can be claimed as part of the process of doing your tax , similar to claiming paper clips ie the cost of doing business !!!!
That moneybeans looks very interesting.
Questions of Duncan please:
1. Do I have to purchase it twice as our properties are jointly owned by hubby and myself and of course we do two separate tax returns.
2. Does it allow you to go in and change the interest rate when we get one of those nasty rate rises???
Thx
Questions of Duncan please:
1. Do I have to purchase it twice as our properties are jointly owned by hubby and myself and of course we do two separate tax returns.
2. Does it allow you to go in and change the interest rate when we get one of those nasty rate rises???
Thx
Distance
Hey Duncan,
If I remember rightly your portfolio is all in SA, in reasonable driving distance.
This does make a difference.
We manage one IP which is a short drive away from our PPOR and were considering self managing the units we settle on tommorrow in Albury but desided against it. I suppose it mainly because it wouldn't be time efficient, should repairs be required urgently with a five houur drive away and not knowing the local tradespeople. At this stage we have to keep our finger crossed with the new PM as we haven't bought here before.
Our portfolio also extends interstate (QLD) and we've developed some good relationships with our PM's although that has not always been the case.
Good PM's are hard to find.
We find we're more apt to spending our time renovating at present.
Hey Duncan,
If I remember rightly your portfolio is all in SA, in reasonable driving distance.
This does make a difference.
We manage one IP which is a short drive away from our PPOR and were considering self managing the units we settle on tommorrow in Albury but desided against it. I suppose it mainly because it wouldn't be time efficient, should repairs be required urgently with a five houur drive away and not knowing the local tradespeople. At this stage we have to keep our finger crossed with the new PM as we haven't bought here before.
Our portfolio also extends interstate (QLD) and we've developed some good relationships with our PM's although that has not always been the case.
Good PM's are hard to find.
We find we're more apt to spending our time renovating at present.
If you have PMs, are there variations on the arragements:
-PMs could pay your rates for you
-PMs could automatically increase the rent for you
I'm looking for a PM/agent to rent out a property... I'm stuck on how to choose one. Things that I am thinking about is:
-% comission (including gst)
-fee's per month
-the rent the agent can achieve
-whether the agent actually inspects the property at all
-PMs could pay your rates for you
-PMs could automatically increase the rent for you
I'm looking for a PM/agent to rent out a property... I'm stuck on how to choose one. Things that I am thinking about is:
-% comission (including gst)
-fee's per month
-the rent the agent can achieve
-whether the agent actually inspects the property at all
Self Managed
Hey Guys,
I'm pretty much brand new to the property Market.
I have been looing and learning for sometime now and found forums lie these very useful.
Check out www.investmentpropertytoolbox.com.au , it's got a lot of info you need to know if you are a property manager and if you aren't its a good idea to now what your property manager should be doing.
Thanks again for all the great post's
Cheers
Brad Smith
0419301712
www.braaap.com.au
Hey Guys,
I'm pretty much brand new to the property Market.
I have been looing and learning for sometime now and found forums lie these very useful.
Check out www.investmentpropertytoolbox.com.au , it's got a lot of info you need to know if you are a property manager and if you aren't its a good idea to now what your property manager should be doing.
Thanks again for all the great post's
Cheers
Brad Smith
0419301712
www.braaap.com.au
lowb said:
Why not pose as a renter, call the PM you're thinking about and see how they react? Are they proactive in calling you back? How is their service, etc?
Rate paying is standard. They can negotiate rent for you anyway, but usually they ask you first. My PMs usually email me a month or two before the lease expires and asks what I want to do.
Alex
