Professionals Burleigh 
There are many things to consider when purchasing and managing your property portfolio.
Things to consider are the timing of your purchase, location, type of property and also financing options.
These areas also get affected by market variables such as interest rate rises and average property values and ongoing costs associated with maintaining your investment portfolio.
Create and maintain a strategy
Proven data-driven investment strategies get investors ahead rather than listening to unsolicited advice. Engaging a reliable and honest managing agent is going to help the investor in the long-term. This allows you to get the most out of your investment, with minimal stress knowing someone has a watchful eye on your property.
Have your property manager pay bills out of the rent
Many property managers will offer a free service to pay any bills the property incurs such as strata fees, council rates, rental provider/landlord’s insurance and maintenance costs – out of your rent, then deposit the balance into your account each month.
This will make tax time a lot easier for you. Your property manager will provide annual rental statements with all your income and expenses.
Cash flow
When it is a low interest environment, you may find your investment has a good cash flow following the annual tax deductions of expenses and depreciation.
Although you may find the holding costs during the year are negative and therefore would need a buffer to maintain the investment before your yearly tax return.
Build on your strengths
Another option is to ask your accountant for a tax-withholding variation form, this is to adjust your week-to-week tax to reflect your allowances for owning the investment – and you can receive the return immediately in your pay cycle.
Some investors will find this helps with cash flow during the year. It’s important if your goal is to build your property portfolio, to save, extra or unexpected cash flow if your aim is to expand your investment portfolio.
Start planning for your financial future with the right investment strategy and the long-term benefits should duly follow.
