R&W Maroubra 8347 5000R&W+Marou… · Here are our three key steps for property ... as pest control...
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Maroubra R&W l 8347 5000 Maroubra R&W l 8347 5000 894 Anzac Parade, Maroubra NSW 2035 [email protected] www.rwmaroubra.com.au You’re unlikely to become an overnight millionaire when buying, selling and renting properties, but it may be possible to create a sustainable, long- term investment portfolio by following a few steps to ensure your success. Here are our three key steps for property investing success. Identify Your Strategy As you establish and build your property portfolio, you need to know your strategy. Are you looking to generate consistent cashflow? Maybe your expertise is more aligned with capital growth and renovation projects? Knowing your answers to these questions is crucial before you buy and sell properties. Once you’ve identified what strategy suits your goals and risk appetite, think about where you’re likely to come up against challenges. This may include things such as access to capital, a lack of equity in your current property and your borrowing capacity. As you identify what challenges you’re likely to face, draw yourself a roadmap or talk to a professional who can help you navigate any roadblocks that may come your way. Only Buy the Right Properties You may come across a property that you love in a great area, but if it doesn’t fit into your long-term investment strategy, it’s not worth buying. To make sure you’re finding the right properties, ideally before they’re on the market, talk to real estate agents in the suburbs where you’re looking for property. You also need to make sure you’re not just analysing the broader property market, but each suburb to understand recent sales, vacancy rates and rental yields. This will help you to have a logical, methodical approach to your investing. Put simply, if the property doesn’t fit your pre-determined strategy, you don’t buy it. Have Effective Management Processes in Place It’s tempting to hand an investment property over to your property manager and forget about it — you’re getting your regular disbursements, and they’re managing everything else. What’s not to love about that? However, you need to be proactive in managing the property, especially when it comes to major repairs and maintenance. To do this, talk with your property managers about a schedule for routine inspections and quarterly and annual jobs such as pest control and clearing rain gutters. They may seem like small tasks now, but they’ll be much bigger to deal with, and potentially cost you a lot of money if you’re not staying on top of these things at each property. Whether you’re just getting started with property investing, or you’re a seasoned investor, these steps will help you to build a sustainable property portfolio with long-term profitability. As always, before you make any major investment decisions, property or otherwise, make sure you consult your trusted legal and financial professionals. OUR TIPS ON PROPERTY INVESTING SUCCESS Property Management News January 2020
Transcript of R&W Maroubra 8347 5000R&W+Marou… · Here are our three key steps for property ... as pest control...
MaroubraR&W l 8347 5000
Maroubra R&W l 8347 5000
894 Anzac Parade, Maroubra NSW [email protected]
You’re unlikely to become an overnightmillionaire when buying, selling and rentingproperties, but it may be possible to create asustainable, long- term investment portfolio byfollowing a few steps to ensure your success.Here are our three key steps for propertyinvesting success.
Identify Your StrategyAs you establish and build your propertyportfolio, you need to know your strategy. Areyou looking to generate consistent cashflow?Maybe your expertise is more aligned withcapital growth and renovation projects?Knowing your answers to these questions iscrucial before you buy and sell properties.
Once you’ve identified what strategysuits your goals and risk appetite, thinkabout where you’re likely to come upagainst challenges. This may includethings such as access to capital, a lackof equity in your current property andyour borrowing capacity. As you identifywhat challenges you’re likely to face,draw yourself a roadmap or talk to aprofessional who can help you navigateany roadblocks that may come your way.
Only Buy the Right PropertiesYou may come across a property thatyou love in a great area, but if it doesn’tfit into your long-term investmentstrategy, it’s not worth buying. To makesure you’re finding the right properties,ideally before they’re on the market, talk
to real estate agents in the suburbs whereyou’re looking for property. You also need tomake sure you’re not just analysing the broaderproperty market, but each suburb to understandrecent sales, vacancy rates and rental yields.This will help you to have a logical, methodicalapproach to your investing. Put simply, if theproperty doesn’t fit your pre-determinedstrategy, you don’t buy it.
Have Effective Management Processes in PlaceIt’s tempting to hand an investment propertyover to your property manager and forget aboutit — you’re getting your regular disbursements,and they’re managing everything else. What’snot to love about that? However, you need to beproactive in managing the property, especiallywhen it comes to major repairs andmaintenance. To do this, talk with your propertymanagers about a schedule for routineinspections and quarterly and annual jobs suchas pest control and clearing rain gutters. Theymay seem like small tasks now, but they’ll bemuch bigger to deal with, and potentially costyou a lot of money if you’re not staying on topof these things at each property.
Whether you’re just getting started withproperty investing, or you’re a seasonedinvestor, these steps will help you to build asustainable property portfolio with long-termprofitability. As always, before you make anymajor investment decisions, property orotherwise, make sure you consult your trustedlegal and financial professionals.
OUR TIPS ONPROPERTYINVESTINGSUCCESS
Property Management News
January 2020
Important note: Clients should not rely solely on the content of this newsletter. All endeavours are made to ensure the content is current and accurate however, we make no representations or warranties as to the accuracy, reliability, completeness, or currency of the content. Readers should seek their own independent professional advice before making decisions.
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BEHIND THE SCENES: WHAT HAPPENSAT A ROUTINE INSPECTIONSo, your property manager isoverseeing your portfolio – answeringyour tenants’ queries, collecting rentand of course, carrying out thoseall-important routine inspections tomake sure everything is ship shape.But what exactly goes on behind theclipboard?
When your property manager visitsyour properties for inspection, theyare of course checking your tenantsare looking after the home – but that’snot all. Different states have differentlegislation, and your property managerwill be well-versed on what compliancelooks like for landlords and tenantsmore locally.
Ensuring the property is safe for your tenantsto reside in is an important aspect ofinspections – their thorough checking cansave you from a lot of heartache if safety orhealth issues have been left unreported bytenants.
Routine inspections can also enhance helpminimize the likelihood of necessarymaintenance in your property. Your propertymanager will be on the lookout for
preventative measures you can take to avoidcosmetic and structural problems developingin the property – as well as identifying anyareas of improvement that could allow you tocommand a higher yield in future.
Take time to go through your routineinspection report with your propertymanager. While everything may be runningsmoothly and complying with the necessarylegal requirements, there are oftenimprovements identified that are worthundertaking for the benefit of yourinvestment and your tenants.
We wish all our landlords a Happy New Year! We look forward to working with you again in 2020.
Happy New Year
2020
January 2020
R&W
RECENT RENTALS
512/2 Oscar Place, Eastgardens2 Bedroom, 2 Bathroom, 2 ParkingPrice Undisclosed
15 Strachan Street, Kingsford7 Bedroom, 3 Bathroom, 3 ParkingPrice Undisclosed
RECENT SALES
2/229 Anzac Parade, Kensington2 Bedroom, 1 Bathroom, 1 ParkingPrice Undisclosed
Hendra WijayaPrincipal
60/147 Talavera Road, Marsfield2 bed 2 bath 2 parking $500302/108 Maroubra Road, Maroubra 2 bed 2 bath 1 parking $6202406/3 Carlton Street, Chippendale 2 bed 1 bath 1 parking $90027/693 Anzac Parade, Maroubra2 bed 1 bath 1 parking $600
We hope you all had a wonderful and relaxing time during the Christmas and New year period. We wish you all a wonderful Australia Day and Chinese New Year a head.
