Blogs

WATCH OUT FOR CRYPTOLOCKER VIRUSES

by Vivian’s Residential In Uncategorized

30 July 2015

photo-fraud
It’s important to be alert to computer viruses that can affect your online systems and disrupt your business. 

In particular, be aware of Cryptolocker viruses. While these are not new, they are a malware (malicious software) type that’s only been around for the past few years. What malware can do is put all your documents into password protected files and unless you pay a ransom to the hackers, you will not be able to unlock and retrieve your files. 

Anti-virus software will not be able to unlock these files. The only way to get your files back is if you’ve got a detached back-up solution. Even if you have regular back-ups and they’re accessible by your computer, that back-up will be locked too. Another name for this is Ransom ware. 

Unfortunately, virus scanners may not be able to detect malware before it’s too late. These malware’s typically come in the form of legitimate-looking emails from large Australian companies like Telstra, Auspost and banking institutes. They look authentic and invite you to click on a link to download something or open an attached file – which is when the trouble starts. 

Large numbers of corporations have been hit by this malware already and some have reported being asked for money to unlock their systems. It’s very important your staff are aware of these viruses and are vigilant about clicking on links. While anti-virus software attempts to expose these types of emails, many of these malware traps are evolving and often escape detection. 

Recently Adobe Flash has also had a serious vulnerability exposed, which is why some browsers have started to deactivate Flash by default. 

Your home computers are also vulnerable to this threat. 

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO !!


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EMERGENCY LEVY UP BY 10.8%

by Vivian’s Residential In Uncategorized

27 July 2015

Ratepayers will be hit by a 10.8% hike in the emergency services levy (ESL) this year.

The state opposition said the latest increase meant the levy, which is collected by the councils, had gone up by 81% under the Liberal Government.

Seriously how are they allowed to get away with this absolute rubbish of a levy and to be able to put it up by 10.8% is outrageous.  Not sure what Colin Barnett is thinking but this is not a money tree that just keeps growing money from the rate payers Mr Barnett.
Our Council Rates are still going up each and every year but many peoples salaries are not !!  I know they endeavour to cut costs but rates are also out of control, one bedrooms are paying $1,300+ a year and yet I sell properties that are two bedroom townhouses that are less – work that out, again there needs to be an overhaul done.

The whole system needs to be over hauled and a much fairer system put in.  The levy was a great idea in the beginning so it made sure everyone contributed but seriously you cannot be putting it up faster than inflation.

If you cannot balance your books stop spending !!

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO !!


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HOW DO I USE PROPERTY TO FUND MY RETIREMENT?

by Vivian’s Residential In Uncategorized

20 July 2015

(Another good article by DZL Wealth Pty Ltd)

With interest rates at all-time record lows, property has recently become very attractive to a wider range of investors. The media is full of articles and commentaries talking about using property to help fund retirement, with many even talking about it as a means to completely replace an employment income so they can quit work early.

Whilst property investment has a proven track record as being a comparatively safe way to build wealth for the future, is it really possible to use property as a means of finding financial freedom and funding your retirement? And if so, how do you go about it? Immediately got my attention Gary !! Here’s an outline of two commonly used property investment plans: Plan A – Living off the rental income Many people create an investment property portfolio with the notion that one day, the properties will be all paid off and they will be able to live on the rental income. But if you are planning to fund your retirement this way, you’ll need to take into consideration that this rental income will be subject to income tax and some of it will also be required for property management, maintenance, insurance and rates. In other words, a sizeable chunk of the income your properties produce – around 50 – 60% – will be used up before you can allow for your living expenses. That was my theory a few years ago, keep buying but the only thing is the apartments are old and do need special funds to upgrade them in to the year 2000 !!  Still buy them though. In theory, it ought to be possible to create a property investment portfolio large enough to cover all these expenses if you start soon enough and plan carefully from the outset. How much income you will need is up to you. Considering you will lose at least 50% of the income to tax and expenses, then if you want an after tax income of $100,000 you will need to plan to have a portfolio of properties that is generating at least $200,000 a year. Think may need more than a couple of units to make this happen 🙂 Plan B – Living off the equity Many property investors take the approach that paying off the loan completely is not ideal. Instead, they simply reduce the loan to value ratio as far as they can and then fund their retirement living expenses by borrowing against the equity if and when they need it. Spending the kids inheritance like the sound of that one !! Acquiring funds this way does not attract income tax*, which is one of the main benefits of this plan. However it should be noted that every time you withdraw some of your equity, the repayment amount and interest due on your loans will rise. There’s that magic word “no income tax” !! As long as your properties continue to experience capital growth and the rental income keeps pace with the rises in your repayments, this plan may seem like an endless cash machine. But if market conditions create a situation where both rents and property values fall dramatically, you may find yourself in a position where your equity declines so much that you can’t borrow any more money, or you may need to start selling off your properties in order to meet your repayment commitments – which may not be ideal. You cannot create wealth without an element of risk. Of course, selling off your properties to fund your retirement is also a possibility. However, you will need to take into consideration capital gains tax and carefully plan ahead to ensure you have generated sufficient potential funds to meet your needs. Now that’s a nasty word “CAPITAL GAINS” how I hate that word. Get professional advice before you start The truth is that using property to fund your retirement is not as simple as it sounds – there are many variables involved. But one thing is for sure, if you want to use property to gain financial freedom in the future, then you need to have a plan. And the sooner you start to implement your plan, the more likely it is that you will achieve your goal of funding your retirement with property. In other words stop hesitating and get the right advice – Gary’s firm is brillant for that. Before you take the plunge and start buying up investment properties, it is very important that you get some expert advice to help you formulate an investment plan that is right for you. If you want to be a successful property investor, then it pays to have a team of professionals who can advise you along the way and help you to avoid making costly errors. This team might include a financial planner, tax specialist, property manager and certainly us – a reliable team of mortgage experts. Yep agree with all of that !! If you’re thinking of using investment properties to build wealth and perhaps, fund an early retirement, then give us a call now. We can not only help you with the right financing, we can also refer you to some of the experts you will need to create your team of professionals and formulate a firm plan for success. So please give us a call today! Yep give them a call and get the RIGHT advice first time around, *This article does not constitute tax advice. The information contained in this article is general in nature and does not take into account your personal situation. Tax issues relating to property investment can be complicated and you should always consult an accountant or qualified tax adviser. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice. Glad you said that as people would blame you of course. CONTACT: Gary Fernandez A: 08 9474 9111 F: 08 9367 2770 M: 0407 330 612 E: loans@dzlw.com.au W: www.dzlw.com.au
Dezlean Wealth Pty Ltd Australian Credit Licence number 474350

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO !!


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COMMON MISTAKES THAT PROPERTY INVESTORS MAKE

by Vivian’s Residential In Uncategorized

17 July 2015

(Information provided by DZL Wealth Pty Ltd) Give them a call if you are wanting creative and knowledgeable brokers !!

Property investment has always been popular in Australia. However, like all forms of investment, there are loads of variables involved and it’s easy to make expensive mistakes. Building wealth through property investment can be a lot of work – particularly if you’re new to property investment and are not aware of exactly what’s required. In this article, we outline some of the common mistakes made by first time property investors so you can plan ahead to avoid them.

Not doing your homework Many people make the mistake of buying a property simply because they like it, or think it is a bargain. But not every property makes a good investment. When you find a property that you might like to purchase, it is very important that you do your research to ensure it will give you the return on your investment that you will need. Ask yourself these questions, and importantly, take the time to research the answers carefully:
• Will it be easy to find tenants/will the property be in high demand? • What rental income can I expect? • Does the property have strong capital growth potential? Is it in a growth suburb? • Am I paying the right price? How long will I have to hold the property before I can make a profit by selling it? Sometimes it’s not easy to ascertain all this information but most of it – who knows what property will sell for in the future.?
Not factoring in all of the costs Cash-flow is a very important factor when you plan to invest in property – and it’s the area where many first-time investors come undone. It’s not only important to factor in all the costs of buying the property, you must also factor in all the costs of running the investment and maintaining it from the outset. I’ve said time and time again always discuss it with people doing the business not people that don’t own property.
When you research the rental income you can expect from a property, you will first need to know exactly how much rental income you will need to cover the costs of holding it. The actual costs will vary from property to property – if you purchase a new home, for example, you will not need to factor in much by way of maintenance costs at first. But if you purchase an older property, you will need to make an estimate of what work is going to be needed and when, and how much this will cost and factor that into the budget. If buying a Strata check the minutes with the balance sheets, see how much money they have in the account.
Ask yourself these questions: • Will the rental income be enough to cover the costs of a property manager, advertising for tenants, regular general maintenance, council rates, building insurance and landlord’s insurance? • How will I cover the costs of large repairs – say if the hot water system needs replacing quickly? • How will I cover the costs when the property is untenanted and there is no rental income? How long is the average vacancy time in this area? How long will I have to budget for? Cant always get a property positively geared of course.
Not getting the property management right A property manager is the liaison between you as the landlord, and your tenant. First time investors often believe that managing their own property will save them money. However, it should be remembered that your property management costs are usually tax deductible and few people have the skills to not only find tenants quickly, but choose the right ones. The legislation has changed that much these days who would want to keep up with all those changes.
Property managers find your tenants, vet them by performing credit checks and then collect the rent every month. They deal with tenant requests, organise regular maintenance and pursue action when disputes arise. They keep track of rents in your area and make sure your rent keeps pace with the market. We picked up several people not charging enough for their properties.
In short, a good property manager will help you maximise the return on your investment and save you from many sleepless nights. However, some property managers are better than others, and fees vary. You should carefully research your property manager before engaging them – ask around, check references and make sure they have the resources to do a good job. If you need help with this, ask us for a referral. That would be us in the Western Suburbs !!
Not talking to a tax professional Did you know that you should obtain a depreciation schedule as soon as you purchase the investment property, preferably at settlement? Not many people do. It’s a document that helps your accountant determine how much you can claim back on tax each year. Yes have done all bar one of my properties, great help come tax time.
One of the major mistakes people make with investment property is not planning ahead to make the most of their tax deductions. In order to ensure you understand what you can and cannot claim, you need to talk to a tax professional and/or accountant early on in the process. Getting it right will help to ensure you come out ahead and enjoy substantial savings. Getting it wrong will cost you money you may never get back. We have many expert contacts in this area so if you need a quality referral to an accountant, please get in touch. Think everyone’s done that at some point, keep picking up things from my clients.
Getting the finance wrong Before you commence your property investment journey, it is wise to make a plan about what you want to achieve – your financial goals for the future. We recommend you sit down and talk to us about getting the right financing to achieve these goals. Taking a haphazard approach to financing your first, and then subsequent investments, could cost you more money, limit the amount of investment properties you can acquire and even be a recipe for disaster if something goes wrong. You need to be honest with your broker – they are not your bank
We can’t stress enough how important it is to formulate a plan before you begin, and talk to us about your financing before you even consider making a property purchase. We will help you set up the financing arrangement that is most advantageous to you – considering your goals and your personal financial circumstances. Highly recommend it. If you’re thinking about making a property investment, why not talk to us? We are happy to take the time to discuss your plans, get you pre-approval for your financing and introduce you to a team of other professionals who can help you to avoid these expensive mistakes above! Give us a call – we’re here to help.  Gary Fernandez A: 08 9474 9111 F: 08 9367 2770 M: 0407 330 612 E: loans@dzlw.com.au W: www.dzlw.com.au
Dezlean Wealth Pty Ltd Australian Credit Licence number 474350 MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO !!


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HAVE WE BECOME A NANNY STATE?

by Vivian’s Residential In Uncategorized

15 July 2015

I was reading an article somewhere from a person that had been travelling around Europe and could drink virtually anywhere you wanted to if it was a café, restaurant inside and outside, no pool fences, you could even drink down the street if you wanted to !!

What has happened to Australia we have become old Nannas and have put that many rules and regulations on it’s people we are ham strung for everything we do.

We have to have a license for just about everything we do in our lives.

The employees are told that they have to obey the rules and apply them to the customer even to the this degree, you are walking outside to a table, you are not allowed to carry your drinks out there yourself a worker/bar person has to take them out there for you…..the world has gone absolutely mad.

I also read that a criminal got $18,000 compensation from a judge because the reason he was a bad bastard was his up bringing that he had been traumatised from his Father in his earlier years !!  ARE YOU FOR REAL !! seriously we all have got things in our past but seriously get on with it and stop blaming everyone else but yourself move past it !!

Everyone just everyone is fed up with working hard, doing the right thing and then there are people who have not done the right thing, work the system, get looked after and now apparently get money – when is enough enough??????

Can we just get an island and put everyone on that island and let them all fight out it out for themselves seriously the law abiding citizens should not have to put up with those that don’t do the right thing (I don’t mean parking tickets either) serious stuff.  Perhaps with croc infested waters, then a shark channel, then a snake pit, if they get through all that we will give them a second chance – maybe !!

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO !!


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SURVEY REVEALS WHAT VENDORS REALLY THINK ABOUT AGENTS

by Vivian’s Residential In Uncategorized

06 July 2015

2/7/2015 Supplied by Shane Kempton

Have you ever wondered what you clients really think about you? A recent national study by Roy Morgan Research of 300 vendors has revealed what they really think about their real estate agents and the service they delivered – and luckily it’s mostly good news.
The survey found that most vendors are satisfied with their agent, with 31 per cent reporting excellent service, 35 per cent reporting good service and 20 per cent reporting average service. Just 14 per cent of vendors said they received poor service.
But while most vendors reported good service from their agent, there are still some issues that agents need to work on if they want to keep their clients happy.
According to the survey, 58 per cent of vendors felt confident about their agent before the sales process, but that dropped to 50 per cent during and 41 per cent after.
Managing price expectations was one issue that was flagged by vendors. At the start of the sales process a lot of agents make the mistake of trying to woo clients by promising high sales figures but this rarely ends well.
It is in everyone’s best interests to be honest from the outset and to have a hard conversation about property prices. Pricing a home correctly is so important, and while agents are prone to making mistakes like anyone else, if you promise a price you can’t deliver then your vendor will be disappointed and it may actually result in the property selling for less than market value.
Another issue that the survey revealed is that a high per cent of agents aren’t demonstrating their local knowledge by sharing things such as local clearance rates or recent comparable sales with vendors.
It’s good to see that overall vendors are mostly happy with the service they receive from agents, but it really is important that agents have those tough conversations with vendors about price from the start of the relationship and that they share as much information as possible and offer the best service. After all you don’t just want to win a client’s business, you want them to be happy with the end result and recommend you for the future too.
Fortunately we have those hard conversations first, usually losing the listing if they have not been a client before as GREED takes over.  All our clients fortunately trust us to give it to them straight up which we do




MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO !!


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COOLING OFF PERIOD AFTER I HAVE LISTED MY PROPERTY?

by Vivian’s Residential In Uncategorized

03 July 2015

Is there a cooling off period after I have listed my property with an agent?

 

This will depend upon the arrangement with your agent, but generally not. The standard selling agency agreement from REIWA does not have a cooling off period.

(We tend to let people go if they have changed their mind for any reason as you only want happy Sellers – fortunately l don’t believe we have lost many that has gone to another agency)

 

Selling agency agreements have an agreed time period, however the seller has the right to withdraw their property from the market at any time. If the seller provides that instruction then the agent would cease marketing the property for sale.

(The moment that we are ever told it goes down as fast as the internet will allow it, I know there are some huge complaints to find some agents are leaving their properties up for months without their knowledge) !!

 

Withdrawing the property from the market does not terminate the selling agency agreement, rather it just places the agreement on hold until the seller is ready. It’s important to note that withdrawing the property from the market does not provide the seller with the right to enter into a selling agency agreement with another agent until the initial agreement has terminated.

(Something you have to be very careful about as you will be up for a double selling fees so one to definitely watch out for)

 

We recommend you list your property ‘For sale’ only when you are ready to sell and you have selected your preferred agent.

(Most important to select an agent that you trust will be working for you and not the buyer, so easy to wipe out thousands from the Sellers pockets, so choose wisely)

 

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO !!


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SYNERGY AND THEIR BUREAUCRACY !!

by Vivian’s Residential In Uncategorized

01 July 2015

Bureaucracy gone mad !!

Being the chairman of a Council of Owners and when you look over the accounts that the strata company pay for you.  We came across two accounts for the same period (couple of days difference) and they called the second account a re bill !!

Now the bill’s were for $2,600+ and the difference between the original bill and the re bill was 10 cents – I ask you really !!!  Apart from the Strata Company paying both bills so we are now down by $2,600+ I also noticed synergy had charged us late fee’s also.

After spending about 24 minutes with the first person who couldn’t really explain why?
I put in a complaint, the next day I had another person ring me only to explain to me that it was legislation that if the bill was different they had to re bill it – are you serious !! If that was a private enterprise someone’s head would roll.

Legislation gone mad – understand if it was a huge amount of money but surely someone with a brain in their head would include in that legislation that if the difference was $50 or over or something to that extent.  Honestly this Country is being run by idiots that are just too full of their own importance and making more work by shuffling papers around and passing ridiculous laws.

I am actually thinking of taking this ridiculous experience to the Post Newspaper and the West Australian because seriously we are only one bill how many others is this happening to and if you cannot be bothered doing anything about it (and I honestly understand why as it takes hours and hours to sort out a simplistic thing) perhaps it needs to be exposed another way.

I feel really sorry for the people that I talk to as it’s not their fault and they have to hear my stern voice ha ha .. that’s customer service for you.

Another one was with 43 Victoria Street Mosman Park when it was being renovated they had actually disconnected the meter, however the meter reading kept putting in a estimate of the power usage (none being used) and I kept getting these huge bills which took me months and months to sort out and over 3 hours on the phone – I was screaming at them in the end !!  Seriously the man at the top look at what’s happening on the ground level.  To make matters worse there was a blame game going on until I finally got on to someone who helped me out (not his job either) but was also aghast at what was happening.  Did I get an apology hell no !!  But I certainly thanked the chap that helped me out as I was going to do some serious damage to that department by the way of the media – still might.

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO !!


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