THE REALITY OF PROPERTY INVESTING: THE COSTS YOU NEED TO KNOW ABOUT!
You might get really excited at the thought of buying an investment property but are you aware of all the costs associated with it?
Owning a property comes with a lot of expenses.
Things like council rates, insurance policies and maintenance costs can catch you off guard if you haven’t planned for these expenses.
When looking at investment properties, many people do calculations based on what their expected mortgage expenses are going to be and what the rental income is.
Well, if you don’t account for these expenses, you’re going to find yourself in a bit of a tough spot.
So, in today’s video, we're going to share a few ongoing costs that property investors often don’t account for in their budget.
Now, grab a pen and paper and make sure you have them all covered.
CHAPTERS:
00:00 - Introduction
01:37 - Insurance
02:35 - Accountant Fees
03:08 - Maintenance
03:50 - Advertising Fees
04:08 - Property Manager
04:40 - Utilities
05:15 - Vacancy Costs
05:35 - Strata Fees
06:02 - Land Tax
06:57 - Final Thoughts
Check out the other land tax fees in this article: https://duotax.com.au/land-tax-objection/
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Tuan is the Director of Duo Tax Quantity Surveyors. For the past five years, he and his team have helped thousands of property investors maximise their tax deductions through the power of tax depreciation schedules. As an avid property investor himself, his mission is to help all property investors get the most value out of their investments.
Contact us:
https://duotax.com.au/getaquote/
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Connect
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YouTube: https://www.youtube.com/channel/UCgqWlkobZNGd_9L2N1eaWPg
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Video produced by Social Wave
https://www.socialwave.com.au