Adora Herveaux’s Reviews > Property Fit: Get your property portfolio in shape for financial freedom > Status Update
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Adora Herveaux
is on page 162 of 192
SHORT-STAY ACCOMODATION
Think Airbnb. Things to consider:
- Have a financial buffer to get through low bookings season
- Manage your cash flow as income inconsistent
- Aim to double your annual rental income
— Mar 12, 2022 12:20AM
Think Airbnb. Things to consider:
- Have a financial buffer to get through low bookings season
- Manage your cash flow as income inconsistent
- Aim to double your annual rental income
Adora Herveaux
is on page 149 of 192
PROPERTY DEVELOPMENT
Difficult to get right unless you know what you’re doing.
— Mar 12, 2022 12:13AM
Difficult to get right unless you know what you’re doing.
Adora Herveaux
is on page 149 of 192
PROPERTY DEVELOPMENT
Difficult to get right unless you know what you’re doing.
— Mar 11, 2022 11:47PM
Difficult to get right unless you know what you’re doing.
Adora Herveaux
is on page 130 of 192
Flipping property is for cash flow only. Long term wealth is accumulated by building an asset base, and by selling the asset you can never make money from it again.
Flipping is best suited to investors who have other assets and financial buffers to fall back.
— Mar 11, 2022 10:48PM
Flipping is best suited to investors who have other assets and financial buffers to fall back.
Adora Herveaux
is on page 130 of 192
FLIPPING PROPERTY
1. Renovate and sell
Quick cosmetic fix eg painting, landscaping, carpets.
2. Adding rooms
Turn 3 bed, 1 bath property into 4 bed 2 bath. Can take longer as need council approval.
3. Secure planning approval
No renovation work, rather sell with development approval. Applies to older properties only.
4. Rezone
As above, sell with approval to rezone from commercial to residential or vice versa.
— Mar 11, 2022 10:45PM
1. Renovate and sell
Quick cosmetic fix eg painting, landscaping, carpets.
2. Adding rooms
Turn 3 bed, 1 bath property into 4 bed 2 bath. Can take longer as need council approval.
3. Secure planning approval
No renovation work, rather sell with development approval. Applies to older properties only.
4. Rezone
As above, sell with approval to rezone from commercial to residential or vice versa.
Adora Herveaux
is on page 115 of 192
RENOVATIONS
Always ask your tradespeople for copies of their licenses and insurance cover before they start any work on your property.
A good rule of thumb is to only spend your capital on items that will improve the livability of a property.
Never get emotionally attached to the property. Treat it like a business from start to finish!
— Feb 27, 2022 09:28PM
Always ask your tradespeople for copies of their licenses and insurance cover before they start any work on your property.
A good rule of thumb is to only spend your capital on items that will improve the livability of a property.
Never get emotionally attached to the property. Treat it like a business from start to finish!
Adora Herveaux
is on page 98 of 192
COMMERCIAL PROPERTY
Fitting a commercial property into your portfolio is something that should only be considered after building a rock-solid residential portfolio first.
— Feb 23, 2022 05:59PM
Fitting a commercial property into your portfolio is something that should only be considered after building a rock-solid residential portfolio first.
Adora Herveaux
is on page 85 of 192
NEW OR OFF-THE-PLAN RESIDENTIAL PROPERTY
Benefits include:
- Tax deductions such as building depreciation
- 6 to 10 year warranty
- Fewer repairs and maintenance
- More desirable to tenants who are typically willing to spend more
Australia is shifting towards ‘rent for life’. Tenants expect quality amenities that new properties provide.
— Feb 23, 2022 05:39PM
Benefits include:
- Tax deductions such as building depreciation
- 6 to 10 year warranty
- Fewer repairs and maintenance
- More desirable to tenants who are typically willing to spend more
Australia is shifting towards ‘rent for life’. Tenants expect quality amenities that new properties provide.
Adora Herveaux
is on page 79 of 192
Mentor tip - Don’t get too emotionally attached to the property itself. Focus on the numbers.
— Feb 20, 2022 09:42PM
