the property millionaire gazette

Welcome to MillionaireProperty Makers

Welcome to the October edition of the MPM Newsletter. We are one month into spring and property investors across the country are beginning to show some activity and re-enter the market. Consumer confidence continues to grow and with some of the shine now coming off resources based share market investment, property is once again becoming the long-term investment of choice. This presents an incredible opportunity for all MPM clients to capitalise as the real estate market continues to heat up.This month we announce the winner from our free iPad giveaway as well is share interesting news reviews across the Australian real estate market.

Great to see you again

Steve & Manuel

THE PROPERTY

October 2012 GA

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Smart investors are always keeping an eye on ways to improve the rental returns on their investment properties and spring is the perfect time to spruce up your property. Well presented properties can easily justify a rental increase when leases come up for renewal, as well as provide a great opportunity for a spring valuation and equity review.

When undertaking renovations or improvements to increase rental returns, the scope of your renovations or repairs work to will vary depending on whether you intend to re-let the property for a higher return or undertake larger scale renovations with a view to selling the property in the future.

When renovating your investment property this Spring, your key focus should be on providing for functional living areas, useful and convenient features, as well as easy to maintain fixtures and finishes.

Think like a TenantBefore you start your spring renovations, it is important that you clearly identify the rental market that you are targeting, whether it is families, professional couples, or students. For example, if targeting the family market, it may make your property far more attractive if you

have a second toilet, for instance, rather than the latest faux granite finish on the bench tops in the kitchen.

Storage Space is a WinnerOne of the common challenges faced by renters is finding properties with enough storage. Consider putting in built-in robes in your property, or look for unused areas to convert to storage such as under stair spaces, or even consider a shed in the back yard. Parking is also an important factor, but it does not have to be expensive. Instead of building a garage or a full carport, there are a number of suppliers of shade sail carports. Cars are some renters pride and joy, so providing a way to care for that car may easily justify a higher rent.

Energy Efficient Heating and CoolingHeating and cooling are always an important factor when it comes to justifying higher than average rents. The rising costs of energy are increasingly becoming a factor that renters will also consider when justifying the potentially higher rental. Renters when applying for a property are now factoring in the cost of energy in addition to day-to-day comfort. Old and inefficient heating and cooling systems will make it difficult to justify higher than average market rentals.

Time to Think Outside At the end of a long winter, some gardens can begin to look tired and overgrown. A clean and well-maintained yard, quality landscaping, and healthy plants can create a fantastic impression on potential renters, and separate your property to look more like a home and less like a rental. There are many options from full-service through to DIY and keep in mind that this is not your own home, and make any changes in the yard low-cost maintenance in the future.

to Increase Your Rental ReturnThis Spring

5 Simple Tips

Millionaire Property Makers, Suite 7/176 Main Street, Osborne Park WA 6017. Ph: (08) 9207 5600 www.MillionairePropertyMakers.com.au [email protected]

WINA New

IpadSEE PAGE 4 FOR

DETAILS

Fear is the most negative and destructive of all human emotions. Conquering fear was Evel Knievel’s number one skill and he provided a lesson for every would-be financially independent property investor.Fear drives so many of our decisions and it is actually an acronym for:

Think back to all those times in your life when you were fearful about what might happen if you were to take a chance and then you went ahead with it anyway.

How many of those fears actually became reality? None? A couple?

Did you go through with it anyway; being a complete success; and look back later wondering what all the fuss was really about?

Was there a process you followed that helped you understand more about your fears and how to manage, understand, and overcome them?

It’s the same with investing and creating financial freedom. Fear can play a huge part in people’s decision-making and can sometimes cloud their judgement. It literally freezes them and they do nothing except continue to live in frustration.

The fears that clouds clear thinking and stop many investors in their tracks are:

If investment was that hard in reality, there would never be any wealthy people in the world, no mum and dad investment success stories, and we would all simply struggle from week to week just to pay our bills.

I believe you know this is not the case and we have all read and witnessed the investment success stories that come from people who recognise that sometimes, you need some help from somebody who

understands your fear in order for you to conquer it.

What does this have to do with Evel Knievel?

Everything! Regardless of how the media portrayed Evel Knievel as a daredevil entertainer without fear, the reality was, that he managed fear through understanding

what false evidence could present itself and then plan to understand and dismiss it.

Evel Knievel never simply leapt on his motorbike and started randomly jumping buses. He carefully measured,

planned, and accounted for each variable in a jump. Sure, he didn’t always land every jump, but he planned enough to not be frozen by fear.

If you feel intimidated by the thought of taking a step into the unknown and borrowing to invest and create financial independence, then please contact us and we will show you how to overcome investment fear through education, risk management, and never leaping blindly into something you do not understand.

1 Fear of failure

2 Fear of not knowing what to do

3 Fear of taking a step into the unknown

4 Fear of losing money you can’t afford to lose

5 Fear of borrowing to invest

FALSEEVIDENCEAPPEARINGREAL

Millionaire Property Makers, Suite 7/176 Main Street, Osborne Park WA 6017. Ph: (08) 9207 5600www.MillionairePropertyMakers.com.au [email protected]

The Power of PaintWe left the best until last and of course, every property owner knows the value that can be added to a property by simply applying a fresh coat of paint to tired, aged, and marked interior and exteriors. We recommend that you consult with a professional in order to identify the best value options for paints that will be both durable, as well as use neutral tones that potential renters can easily see their own furniture matching with.

New Tenants with a Clean SlateIn addition to spring providing you with the opportunity to increase your rent as well as check on the increased value of your property, renovations will also give you the opportunity for a new tenant to start a lease with the property back to scratch and well maintained. Although we always hope to have great tenants that will take care of your property, sometimes this is not

the case, but if you know what standard that you have maintain your own property to prior to leasing at, it also makes end of lease condition reporting a far easier task.

Now it’s time to roll up your sleeves, get off the couch and become a true actively involved property investor that monitors their property and takes every opportunity to increase rental returns for minimum investment.

Story continued from page 1....

Five Fearsof Investment!

Evel Knievel & the H

H


Raj Chug with Free i-PadRaj Chugh was announced as the lucky winner on our FREE iPad draw at our “Learn how to safely buy 7 properties in 7-10 years and retire early - and enjoy $2,000 of hotel accommodation free!” seminar on August 22. Watch this space for future announcements of great giveaways we have planned for our next seminar.

Congratulations to Raj, who won an iPad 3 at our last event.

See the back page for more info.

Port Hedland: The Richest Town in Western Australia

WA mining boom town has become the talk of the international property investment world, with the BBC recently running a story to alert international investors to some rental properties in the town now returning up to $3000 per week. The rental returns in Port Hedland are now rivalling the most affluent suburbs in Sydney and Melbourne. The source of these enormous returns is of course the vast iron ore deposits that are mined to the southeast of Port Hedland

and shipped out to China every day. Local real estate agents have recently been experiencing the emergence of bidding wars between resources companies fighting for the limited properties coming up for rent each month.

One agent in Port Hedland, Jan Ford, recently reported that a four-bedroom house offered at $2500/week ended up renting to $3000/week, the result of two mining companies bidding against each other. A search of property website realestate.com.au, revealed that rentals begin with a selection of one-bedroom units currently renting to $1700/week

Cheaper to Buy Than RentThe resources boom has created a unique situation in Port Hedland where for the very first time in a strange history it is

now cheaper to buy a house than to rent a home on a weekly basis. For example, monthly rental on a property in Port Hedland would now set you back $12,000 per month, whereas, if you were to buy a $1,000,000 property your monthly repayments would only be $7300 per month.

Crazy but true. Of course, the people benefiting most from the enormous rental returns in Port Hedland are those property investors who purchased property in the north ahead of the resources boom. While falling iron ore prices may take some of the shine off the property yields, rentals in mining areas will continue to remain strong and provide opportunity for buyers of selected quality property.

Connect with us and stay up to date with the latest real estate news, views and happenings at ...


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Copyright © 2012 Millionaire Property Makers Pty Ltd. Legal Notice and Disclaimer: This information is intended as a general reference. Results vary from individual to individual. No guarantee of results is given or implied.