SPRING CLEANING YOUR PROPERTY PORTFOLIO

real estate spring cleaner of real estateOnce a year all prudent investors should pull out the invest­ment scrap­book, clean off the dust and ensure that everything is as it should be. We’ve included the fol­low­ing tips of our own and also as read in an art­icle by Mar­garet Thomas found recently.

 

Here are a few tips as to what you need to be doing, right now:

  1. Dis­cuss with your Prop­erty Man­ager their plan for rent reviews for your invest­ment prop­erty in toongab­bie, seven hills or the local area.
  2. Review your last prop­erty Inspec­tion Report and con­sider the sug­ges­ted work required in terms of its abil­ity to increase income to you.
  3. Dis­cuss with your Prop­erty Man­ager how you can bene­fit cost effect­ively by hav­ing us man­age all your prop­er­ties rather than hav­ing mul­tiple Man­aging Agents.
  4. What is the cur­rent value of your prop­erty? Even in a down­turn, some areas still increase in value. Exam­ine your own port­fo­lio to see if you have enough equity increase to add to it. Con­tact us if you’d like to arrange our Sales team to provide a Cur­rent Mar­ket Ana­lysis for the sales value of your property.
  5. Ensure that you have star­ted the cur­rent fin­an­cial year more organ­ised than you were last year! The more prop­er­ties you acquire, the harder it gets to track the fin­an­cial details of each of them, and the more costly it is to have your account­ant sort through the mess at tax time. Start the year with an organ­ised approach to your prop­erty account­ing so that you can simply hand over spread­sheets with full details once tax time rolls around again. Our State­ments are detailed to assist in this process.
  6. Last, but by no means least, don’t for­get your per­sonal fin­an­cial house­keep­ing. The com­ing few years will bring a rocky roller-coaster ride from an eco­nomic per­spect­ive and you can expect interest rate instabil­ity as our coun­try fights the infla­tion crises which threatens us. Now is the time for you to get really ser­i­ous – the easy prop­erty invest­ment ride is well and truly over for now and if you want to invest today (which is prob­ably the best time to buy prop­erty), then you will have to make sac­ri­fices to do so.  Look at your spend­ing and cut where you can. Pay extra money into your loans and if rates are cut, keep your repay­ments high so that you can gain equity, sooner.

About 

Jhai is an award win­ning Inter­net Mar­ket­ing Real Estate Agent for Eld­ers Toongab­bie and Kings Langley. After run­ning his own inter­net mar­ket­ing busi­ness he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to mar­ket them­selves online. Jhai is now fixed on one goal. To teach real estate agents that they can mar­ket online so much bet­ter than they cur­rently are.

Since then he has been con­sist­ently quoted in the Sydney Morn­ing Her­ald and Real Estate Busi­ness online. He is a reg­u­lar guest blog­ger on TheHomePage.com.au, shar­ing his expert­ise of mar­ket­ing aspects for the Real Estate Industry. His biggest pas­sions are his wife, mar­tial arts, dogs and most of all property.

seven hills real estate agent NSW
Cnr Federal Road Prospect Highway Seven Hills NSW 2147 Australia