Property Investors
Owning investment property can be an effective way to create long term wealth. If you have not yet bought your first investment property, then talk to Sharon first to make sure you create the best structures for your circumstances. This may or may not mean using a trust or a limited liability company. Talk to Sharon.
Owning investment properties means you need to prepare financial reports and file a tax return every year.
We offer a cost-effective service preparing these for you.
You should keep the following information:
1. All your mortgage bank statements
2. Records of all income - statements from your property manager, copies of bank statements showing rental payments, etc
3. Records of all costs - rates payments, maintenance, etc
4. Copies of all statements from your solicitor when you buy or sell a property
You may also be able to claim costs for a home office, so talk to Sharon about this. Phone 09-279-0336.
Owning investment property can be an effective way to create long term wealth. If you have not yet bought your first investment property, then talk to Sharon first to make sure you create the best structures for your circumstances. This may or may not mean using a trust or a limited liability company. Talk to Sharon.
Owning investment properties means you need to prepare financial reports and file a tax return every year.
We offer a cost-effective service preparing these for you.
You should keep the following information:
1. All your mortgage bank statements
2. Records of all income - statements from your property manager, copies of bank statements showing rental payments, etc
3. Records of all costs - rates payments, maintenance, etc
4. Copies of all statements from your solicitor when you buy or sell a property
You may also be able to claim costs for a home office, so talk to Sharon about this. Phone 09-279-0336.
Buying at Mortgagee Sale? Don't get caught out.
In a mortgagee sale, the previous owners may resent having their property sold. Some have taken the extreme step of stripping the property of stoves, dishwashers, light fittings, fixed floor coverings, even whole sets of kitchen cupboards. You are buying the land and the house. The chattles are not necessarily included, even if you expect them to be. Make sure your sale and purchase agreement is specific on what exactly you are buying, and do an inspection prior to settlement after the previous owners have moved out. Some buyers have been left with tens of thousands of dollars to spend on what they thought was a modern, complete house.
In a mortgagee sale, the previous owners may resent having their property sold. Some have taken the extreme step of stripping the property of stoves, dishwashers, light fittings, fixed floor coverings, even whole sets of kitchen cupboards. You are buying the land and the house. The chattles are not necessarily included, even if you expect them to be. Make sure your sale and purchase agreement is specific on what exactly you are buying, and do an inspection prior to settlement after the previous owners have moved out. Some buyers have been left with tens of thousands of dollars to spend on what they thought was a modern, complete house.
Download our free report about owning Residential Rental Property
This will give you information on the different structures you can use, and the positive and negative effects. There is detailed information of what you can claim as a deductible expense, and expenses you cannot claim.
This is great background information, but you really need to consult with Sharon about your specific needs before making decisions.
Click here to open the pdf in a new window, or right click and save to your desktop.
This will give you information on the different structures you can use, and the positive and negative effects. There is detailed information of what you can claim as a deductible expense, and expenses you cannot claim.
This is great background information, but you really need to consult with Sharon about your specific needs before making decisions.
Click here to open the pdf in a new window, or right click and save to your desktop.
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