Sunday, March 25, 2007

Property Investor Resources Part 1

Just had a call from my mortgage broker who I will be meeting with later in the week to restructure our mortgages which will mean less interest payments and more money available to borrow which will mean we can buy more investment property. That was pretty exciting and it got me thinking about what resources us property investors need and use.
One tool I find really useful is the internet. From this tool I can look at houses in practically any area in the world, check out valuations, find out facts and figures related to real estate, look up courses and find out new strategies and also get involved in forums with people around the world. There's no doubt about it that the internet is a great tool but you do need to exercise some discretion as there are a lot of shysters out there. That is why I stick to well known brands like real estate agencies and large corporations. So use the internet wisely and you will find that it is a greta tool and resource to help you better your property investing skills.
How about you? What other resources do you use and/or what are some of the helpful sites on the web that you utilise to further your property investing goals. Blog in and let us know.

Thursday, March 22, 2007

Motivation is important in property investing. How do you keep yours high? Is it through focussing on your goals or keeping your family in mind and what you will be able to do for them or having someone you can turn to to get advice or some positive reinforcement? Certainly my desire to be financially free is a motivator for me as is my family and perhaps that maybe I am providing a positive role model for my friends and family in becoming financially independant. But for me personally this is not always the greatest motivation and I have found myself slacking off and not progressing as much as I would have hoped.

Especially in this period of a topsy-turvey property market I have felt a bit unsure and haven't been as willing to risk what I have gained so far. Because of this I have decided to enlist the help of a property investing guru as a mentor. This will, I am sure, reignite my enthusiasm and my property portfolio and get me outta this malaise of comfortableness which I have currently fallen into. It's no good to sit back on my laurels when there's so much more to achieve and since I have made this decision that in itself has got me excited and re-motivated.

How about you? Do you need some re-motivating? If your answer is yes to this question what solutions have you come up with? Drop us a blog because we all need a 'kick up the pants' at some stage. Look forward to hearing from you soon.

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Friday, March 16, 2007

Financial Year

The end of the financial year is fast approaching (that's if you have the 1st April to the 31st March as your financial year). Now's the time to get your bills and receipts and other bits of paper that your accountant thinks is relevant in order. For some people this comprises a box full of all the paperwork for the year which is dutifully handed on to the accountant. For others it is a file with everything sorted under a heading and in alphabetical order.

I know that all that paperwork is really a pain for some people including myself. But at the end of the day the paperwork can return you lots of paper money. So make sure your paperwork is all there even if it is all packed away in an old shoe box. However just remember that the more organised your paperwork is, the less time your accountant spends searching through it which has 2 benefits. Firstly they spend less time on it which means they charge you less. Secondly you get your refunds back from the taxman a lot quicker so you have that money to use sooner to pay down debt or reinvest.

So if you have any suggestions to make dealing with the end of the financial year paperwork easier blog in with your suggestions so that we can all make this process less painful and more profitable.
And remember if you have friends or family who want to improve their property investing lives send them to www.realestaterealinfo.com

Monday, March 12, 2007

Monitor Your Property Investments

Just recently I sat down with a mortgage broker to review my investments and mortgages. It was good to have a fresh set of eyes review my financial situation. It certainly paid off to have someone who is an investor in residential property and is also very financially sharp to cast his experienced eye over my books. After a few minutes he realised an extra couple of hundred thousand dollars by releasing some equity and thus giving me the ability to borrow from another bank. I am so keen on pursuing the deals that I ignored the deals in my own accounts. My lawyer didn't see it but that's not her job; my accountant didn't see it because that's not his job either. When it comes to monitoring your property investments get the right people for the job. I must admit that I have been slack in monitoring my own financial situation but this has given me a wake up call and also given me some financial muscle to get back into the market. How about you? Are you monitoring your financial situation which is the crux of the matter as far as property investors are concerned? If you aren't then you may be paying the price in opportunity costs. Here's to your continued and expanding success which can result if you have the right expertise monitoring your progress.

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Sunday, March 04, 2007

Reassess Your Property Investing

Just today me and my business partner sat down and took a hard look at where we have been and where we wanna head. We decided that we had become unfocussed and have tried to do too many things or strategies. We came to the conclusion that we weren't doing any of them that well.
So we have decided that we will focus on do-ups and flicks for some hard cash for the next 12 months and then reassess our position then as we shpuld have a reasonable amount of cash in the kitty by then. Of course this will change if the economy or immigration or something else happens which affects our current strategy. The important thing is that we have now focussed on doing one thing extremely well rather than scattering our time, energy and resources over a wide range. How about you? Are you focussed? drop us a line and let us know how you are doing.