Constructive Criticism

That would just do my head in..

 

yep, live and learn for my next lifetime

 

Funny how things pan out at times as I have had far more tenant issues (Arrears, Damage) in an IP I own in Sydney where there has been considerable capital growth opposed to 2 IP's I have that are regional / coastal which would fall into the lower socio-economic demographic.

 

Yep . Hard to work out if it's trend, bad luck or coincidence

 

I must be one of the luckiest SOBs alive. I've never had long vacancies, rental arrears, malicious damage etc. I have been taken to tribunal 4 times and won every time except once because the PM didn't notify me of the issue so they footed the judgment order bill of around $700.

Must have a protective angel up there.

 

@Robert Petty,
Please do and read it, just gave to one 19 year old who then drilled me on my way of life, being some what contradicting to this book. Books honestly have changed my life..and thank you for your kind words and I am surprised how wise you are at such a young age, give yourself some credit. You would be surprised how many in my close circle of family and friends don't even comprehend some concepts yet alone act...
I don't attend any PC catch ups, I stay anonymous as my other half prefers it that way, sorry. However I am BIG or huge on good quality coffee...so I never say never, maybe one day.
You see Robert, the main secret is being able to adapt and change and for me that became only possible with personal development. I didn't understand what it meant until I came across Jim Rohn's material and then life just became so much easier.
I honestly believe each one of us is wired with some comfortable financial thermostat, for me that was around $10M. I somehow could not see myself why I should have or be worth more, so personal development permitted me to change my financial thermostat and other non financial perceptions in my life.
You are only young, the secret is to keep growing and obtaining the knowledge, then applying it. If you read at least 100 books just on property alone, were open minded to meetings then...now webinars or presentations or information, developed the right team to work along side with you, took the actual steps to start and invest even as a passive investor first, you too will then become much more specialized in this field.
Just be selective to take advise from those that 'walk the talk' not just their opinions....like I say would you take advice on how to raise kids from someone who never had any children of their own?
I welcome your comments after you read the book...
By the way I only dip into this forum as I feel so sometimes I may be dormant for long.

 

I believe it’s a number of factors and almost impossible to predict. There are good / bad, honest / dishonest, lucky / unlucky people in all walks of life, demographics, socioeconomic areas. I’m lucky enough to have grown up in a bit of a **** hole that was low socio economic but there are some people I knew who I would definitely prefer as a tenant over some of the more wealthy people I have come across in life.

A good PM should be helping to reduce vacancy and weed out the bad tenants. But as we all know PMs can be hit and miss. You can have great one and then they move on and you get a replacement that’s not so great.

I’m not saying you shouldnt do your DD and be aware of the risks. It’s just hard to predict if the issues associated with the risk will manifest themselves or not.