Property Wealth Solutions

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Throughout the life of any property, there will be ongoing maintenance issues, some minor wear and tear and other more s...
20/12/2022

Throughout the life of any property, there will be ongoing maintenance issues, some minor wear and tear and other more significant issues that will need to be dealt with swiftly. Depending on your state’s legislation, there are different rules around the action that needs to be taken when a tenant reports a maintenance issue.

Let’s have a look at some of the common maintenance issues.

Minor wear and tear – this includes issues such as light globes requiring replacement, washers wearing out and leaking plumbing. As isolated occurrences, these are relatively harmless, but if left unchecked, can escalate.

Urgent/major repairs – these require urgent attention and include burst hot water service, gas leaks, breakdown of heating or a roof leak. Not attending to these issues can have serious legal ramifications and can cause damage to your property.

A good property manager acts as the liaison between the landlord, tenant, and trades, working to restore the property to good order as quickly as possible.

Ready to get started on your property journey? Book a free consultation via our website at www.propertywealthsolutions.com.au to speak with a trusted advisor.

Congratulations, you’ve purchased an investment property! The next step is to appoint someone to manage it. While some p...
15/12/2022

Congratulations, you’ve purchased an investment property! The next step is to appoint someone to manage it. While some people opt to self-manage, this is generally okay until it’s not okay. Property management legislation is constantly evolving and it’s critical to have a thorough understanding of how it applies; property management is a lot more than just collecting the rent!

So, how do you choose a property manager?

The best property managers will be heavily recommended by word of mouth, will have glowing reviews on Google and specialty property websites such as Domain and RealEstate.com.au and will have industry recognition from the peak body. In saying that, it’s as equally as important to choose someone with whom you feel you can build a good working relationship with.

Property Wealth Solutions works with a strong referral network to a team of handpicked property managers to safeguard one of your most important assets. As part of our investment services, we can put you in touch.

Book a free consultation via our website at www.propertywealthsolutions.com.au to get started on your property investment journey.

When telling people you’re looking at buying a property, almost everyone you’ll speak to will dub themselves an expert a...
07/12/2022

When telling people you’re looking at buying a property, almost everyone you’ll speak to will dub themselves an expert and offer you unsolicited advice. It may seem as though the butcher, baker and candlestick maker are also now qualified property advisors. Let’s look at some of the common people who may offer unsolicited advice that needs to be taken with a grain of salt.

Real estate agents – although qualified, at the end of the day, they work for the vendor and their goal is to achieve the highest price for the sale of the property, and in turn, gain a high commission. Some agents can also act desperately when trying to get a listing and will give an unrealistic anticipated selling price to get the listing, in the hope that it will sell for that price by chance.

Family members – as much as we love mum and dad, sometimes their advice isn’t great. They may not have purchased a property in decades and when they did, chances are the economic environment was different than it is today. Same goes with a well-meaning uncle or super saavy successful aunty. What works for them, may not always work for your particular circumstances.

Friends – Some of our amazing friends and collegues may know a lot about property, because they genuinely research markets and rely on good sources of information, but most people tend to believe the media headlines. Unfortunately, a lot of misinformation comes from the media, because inexperienced people are required to write blogs for clickbait. Many articles and news segments have been designed to entertain and influence – not always in a positive way and a lot of online content is based on opinion rather than fact.

Ready to get started on your property investment journey? Book a free consultation with a Property Wealth Solutions advisor today by visiting www.propertywealthsolutions.com.au

What is a building and pest inspection and why do you need one?A building and pest inspection is undertaken by a qualifi...
06/12/2022

What is a building and pest inspection and why do you need one?

A building and pest inspection is undertaken by a qualified building practitioner to examine your potential property purchase for defects and issues with the property that may not be easily identified by the average purchaser.

The building inspection will typically identify any cosmetic or structural issues with a property. The report will then advise whether these issues can be repaired and the likely cost it would take to repair them. Other things that may be identified during this inspection include subpar or illegal renovations or extensions made to the home.

A pest inspection is a comprehensive examination of not only the dwelling itself, but also the property on which the home sits, to identify any pests that may be living in external areas, who may then migrate to the home and cause damage.

Undertaking a building and pest inspection prior to purchase is essential to ensure buyers are able to make an informed decision about the property for which they are considering. These inspections can help identify any hidden costs that the buyer may incur when purchasing a property and the report can be utilised in negotiations, when making an offer on the property to the vendor.

Ready to get started on your property investment journey? Book a free consultation with a Property Wealth Solutions advisor today.

The word “debt” traditionally has negative connotations. Despite this, there are actually two types of debt that you can...
01/12/2022

The word “debt” traditionally has negative connotations. Despite this, there are actually two types of debt that you can incur – good debt and bad debt. So, what’s the difference, and how can debt actually be good?

GOOD DEBT refers to the act of borrowing money to fund something that will make you money in the future. The most common example of good debt is property, as property can be used to generate rental income and capital growth, which improves the future value of the property. Other examples include HECS debt to further your education and improve money earning prospects or borrowing funds for investment purposes.

BAD DEBT on the other hand, refers to borrowing money for the purpose of buying items that will not result in an improved future value. Common examples include computers, clothing and holidays. The line of credit taken out on these items may continue to exist long after the items themselves do, incurring interest long after the item has been used.

Looking to see how you can manage your debt, both good and bad, in the leadup to purchasing an investment property? Book a free consultation through our website www.property wealth solutions.com.au to speak to one of our trusted advisors.

Have you ever met someone who just seems to know what to do with their money? Often, you’ll come across people who have ...
29/11/2022

Have you ever met someone who just seems to know what to do with their money? Often, you’ll come across people who have a great relationship with money and seem to have it all together and under control. You might be wondering, what’s the secret?

1. Spend less than you earn. It’s not rocket science, but if you follow this simple principle there’ll be money leftover at the end of a pay cycle to either save or invest.

2. Avoid lifestyle creep. Received a payrise? Great! One of the best things that can be done is not increasing your expenses or lifestyle to increase the gap between earnings and spendings.

3. Avoid emotional purchases. Marketing tactics make it so easy for consumers to spend more money and buy things unnecessarily. When coming up to big sales, plan ahead and decide what you want to buy and avoid spur of the moment purchases. Try and put some distance between yourself and the purchase, usually 24-48 hours will determine if you really want to buy something.

4. Create a budget that is balanced and unrestrictive. Having a budget is a good tool for guidance on how to spend money, but it should be flexible and adaptable. A rigid, inflexible budget without space to enjoy life will set you up for failure.

5. Talk about money. Traditionally, money has been a taboo topic that is to be avoided as dinnertime conversation. By talking about money and finances, people can share and learn collectively, addressing important topics such as wages, saving money, investing and reducing expenses.

Ready to start exploring property investment? Our trusted advisors can help you work towards a plan based on your current financial situation. Book a free consultation by visiting www.propertywealthsolutions.com.au

There are three main ways to pay for a deposit on a house – capital, equity and borrowed funds. On most occasions, there...
24/11/2022

There are three main ways to pay for a deposit on a house – capital, equity and borrowed funds. On most occasions, there will be a combination of the three used. Let’s have a brief look at the three ways:

1. Capital – although a broad term, this refers to cash or assets that can be liquidated into cash. These assets may include cash, shares to be sold or existing property to be sold.
2. Equity – a popular method of financing a home for people who already own an existing property, equity is the difference between your existing property’s market value and the balance of your mortgage; this amount can then be used as security against a subsequent property purchase.
3. Borrowed funds – mostly referred to as a mortgage, this method involves borrowing money from a bank or financial institution to purchase a property.

Want to learn how to purchase a property faster using any of the above methods? Book a free consultation to speak with one of our trusted advisors at www.propertywealthsolutions.com.au

Buying property off the plan is an exciting purchase with the opportunity to secure a property that has never been lived...
10/11/2022

Buying property off the plan is an exciting purchase with the opportunity to secure a property that has never been lived in, is modern and on par with today’s trends, making it highly appealing to prospective tenants.

Once complete and settled, the property is ready to begin generating passive income and the search for a prospective tenant can begin.

Positives:
✅ A brand-new property with no question to its occupancy history

✅ Opportunity to customise as the purchaser desires

✅Access to tax benefits such as depreciation

✅Government incentives may be applicable

✅Lock in the contract price at the day of signing

✅The time between signing the contract and settlement allows the purchaser a greater time to save and build interest upon those savings in the meantime

✅Capital growth may occur while waiting for the property to settle

✅Defect rectification period applies to fix any issues

✅Lengthy warranty period

✅ In demand by tenants who want to live in a new property

Looking to buy a property off the plan? Property Wealth Solutions’ team of trusted advisors know what to look for in a sound purchase, conduct thorough research and provide an unbiased opinion on a property’s investment prospects.

Book a free call with a trusted advisor by visiting www.propertywealthsolutions.com.au

Regardless of whether you’re selling, buying, or leasing your property, chances are you’ll be dealing with real estate a...
08/11/2022

Regardless of whether you’re selling, buying, or leasing your property, chances are you’ll be dealing with real estate agents. Here are our top 5 tips on how to best work with agents for a fantastic experience.

1. When selecting an agent to represent you, speak to trusted family and friends for a recommendation, check local rankings on property websites and interview a few to make the right decision for you and your needs.

2. Document everything in writing, including visits in person and phone calls by following up with an email afterwards.

3. Maintain open and clear lines of communication regardless of what your position in the transaction is, maintaining a good relationship with your agent is important.

4. Research the market of the property in question objectively and develop realistic expectations around its possible value.

5. Get your finances in order before you begin your search, so you have clear expectations surrounding the properties that fall within your budget.

Ready to begin your property investment journey? Book a free consultation through our website to speak with one of our trusted advisors about how property can help you reach financial freedom.

Next to private sale, an auction is one of the most popular methods of selling property in Australia. The individual sel...
03/11/2022

Next to private sale, an auction is one of the most popular methods of selling property in Australia.

The individual selling the property (vendor) will set a reserve price – the minimum they would consider selling the property for – while prospective purchasers will take turns bidding until the final highest amount is reached.

They can often be competitive and achieve an excellent price for the vendor, but buyers can often overpay in the heat of the moment. In the event that the reserve is not achieved, the vendor and prospective purchasers will enter negotiations, or the property will continue the campaign as a private sale.

Looking at purchasing an investment property to grow your wealth? Speak to us today by booking a free consultation through our website at www.propertywealthsolutions.com.au to learn what’s possible in your financial future.

The Great Australian Dream has always been owning property. Today, with so many different types of property available, t...
31/10/2022

The Great Australian Dream has always been owning property. Today, with so many different types of property available, the terminology can often become overwhelming. Here's an explanation of three of the most common types of property:

House - an icon of the original Great Australian Dream, the humble house is a freestanding dwelling, usually with a backyard and garage.

Townhouses/units - a smaller, more low-maintenance version of a house. This can sometimes refer to small houses on small blocks, but they are often in a complex with others and usually have some shared items, such as sewer, driveway and gardens, attracting quarterly owners corporation or strata fees.

Apartments - denser developments consisting of many dwellings under the roof of a single building. Depending on the size of the complex, apartments may be accompanied by excellent facilities, such as pools, gyms, rooftops and communal dining areas. Due to the significant amount of common areas requiring maintenance, the owners corporation/strata fees are always significantly higher than that of units and townhouses.

Looking to invest in property but not sure what type is right for you? Book a free consultation via our website to discuss your property goals at www.propertywealthsolutions.com.au

Have you thought about working with a property investment advisor? Here are 5 great benefits of working with a property ...
24/10/2022

Have you thought about working with a property investment advisor? Here are 5 great benefits of working with a property investment advisor:

1. Advisors are experienced, educated and skilled, specialising in property, rather than just general financial advice.
2. Advisors can understand your goals and needs and match them with an appropriate property for your unique situation.
3. Advisors take the burden out of guesswork and time spent conducting research.
4. Advisors understand the property journey inside and out, and can guide you through each step, making it a stress-free experience.
5. Advisors are an independent and impartial third party and can offer an unbiased opinion, acting purely in your best interests.

Curious how Property Wealth Solutions can make your property investment goals a reality? Book a free consultation via our website to learn more.

Address

111 Eagle Street
Brisbane, QLD
4000

Telephone

+611300159913

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