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43 Steps to Unlimited Success in Property

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43 Steps to Unlimited Success in Property . www.renos.com.au | info@renos.com.au | 1300 550 656. Introduction. This is a complete property checklist. Within each step there are sub-steps but this is the overall process of building a property portfolio.

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43 Steps to Unlimited Success in Property

www.renos.com.au | info@renos.com.au | 1300 550 656

introduction
Introduction

This is a complete property checklist.

Within each step there are sub-steps but this is the overall process of building a property portfolio.

It puts the whole investment property strategy into a understandable context.

43 steps to unlimited success in property
43 Steps to Unlimited Success in Property
  • Getting started: Save 10%  offset A/C
  • Plan your future: Set your goals, Financial Game Plan, 10 years, insert IP’s
  • Your first property: Buy first home or IP. Keep saving 10% into buffer. If cash poor, consider JV
  • Financial basics: Loans on vacant land not deductible
  • Control your finances: Good debt and bad debt
43 steps to unlimited success in property1
43 Steps to Unlimited Success in Property
  • Creating equity: Use offset accounts
  • The Money Finder: Find excess cash flow
  • Property Analysis Software: PIA Essential
  • Loanmaster Matrix: Or Mortgage Broker. How much can you borrow?
  • Property Rating Guide: Checklist. Engage Investigate Property?
  • Find a good accountant:“Property Wise”. Accountant quiz
43 steps to unlimited success in property2
43 Steps to Unlimited Success in Property
  • Making offers: Make heaps of offers. Have your clauses ready
  • Property Managers: Find Property Manager of the year
  • What names do you buy in?: Names/entities
  • Insurance: When you sign contract. House and contents/landlords/arson
  • Get it rented: Access to show tenants
  • Access for renovation: Clause in contract
43 steps to unlimited success in property3
43 Steps to Unlimited Success in Property
  • Settlement: Be available
  • Prepare for tenants: Clean, well maintained
  • Tenancy legislation: Know the rules
  • Quantity Surveyor: Essential for tax
  • Income tax return: Claim all costs – QS report
  • Maintenance: Street appeal/security
  • Adding value: 115 ways, equity gain, higher rent
43 steps to unlimited success in property4
43 Steps to Unlimited Success in Property
  • Rent: Keep it up
  • Tax deductions: Get list from Accountant
  • How to reduce your PAYG tax: Sect: 15/15
  • Using the reduction: Put into offset account not lifestyle
  • Property Number 2: When equity and cashflow increase
  • Property inspections: Regular
43 steps to unlimited success in property5
43 Steps to Unlimited Success in Property
  • Feed your mind: Educate yourself – books, videos, CD’s, workshops
  • Be patient: Delayed gratification
  • Paying cash: For non income producing items
  • Outgoings: Minimise e.g. interest, insurance
  • Variable costs: Control these
  • The ‘Buffer’: 10% or 6 months interest
  • Control your risk: Insurance/trusts
43 steps to unlimited success in property6
43 Steps to Unlimited Success in Property
  • Using your equity: Use it to build wealth not pools
  • Partners: JV
  • Bad tenants: Get over it!
  • Keep going: Build your IP portfolio
  • The Freedom Plan: Turn capital gain into income.
  • Financial Freedom and beyond: Choices
summary
Summary
  • Use this as your guide to keep on track
  • Especially for the ‘newbies’

Thank you

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