May 13th, 2013 by admin
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Property investment is about making money… depreciation is about saving it! Three ways to save money faster – with a few depreciation tips. An investment property is like any other investment: the goal is to generate a profit. In real estate, this is achieved through income (rent, for example) or through a profitable resale. The way in which a property is used has a significant impact on its value. Investors sometimes conduct studies to determine the best – and most profitable – use of a property.
Depreciation’s all about claiming the wear and tear in your investment property, from carpets and blinds, to ovens and fixtures. It’s a legal way to reduce your taxable income. And here are some tricks to help you along the way. When you’re buying things for your investment property -I always say you should abide by one simple rule.
A dollar today is worth more than a dollar tomorrow. So deduct items as quickly as possible. First up, individual items under $300 can be written off immediately. Even if your portion of an expensive item is under $300, you can still write it off.So let’s say the electric motor of a garage door with 10 units costs $2000. That means you’re portion is $200 – you can write it off immediately. More importantly, if you’re buying a microwave for your property, buy one for $295 as opposed to $305!
By doing so you can claim the whole lot in one go, rather than depreciating it at the Prime Cost rate of 10% per annum, which is only $30 in the first year. That’s an increase of close to 1000%!!Items valued between $300 and $1000 can also be claimed in the Low Value Method which attracts a 37.5% rate. » Read more: Tips to Get More Out Of Your Depreciation Claim
April 8th, 2013 by admin
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Want to get the best prices when you sell your properties? Make your contact to Wieman Land and Auction and get your best chance to earn the highest possible benefit from your own auctioned properties. Indeed, forget already that regular trading or selling property through any of those real estate agents. Bidding and or auctioning is far more beneficial if you aim for the good prices of your own house.
You see, if you make your property trading through that usual or regular buying and or selling activity, you can only have one potential buyer at a time. By that it means, you usually have to wait for someone to make some proposal first and once there is such proposal, you can then try to evaluate and or to make a deal with the proposing party. Problem is, you can never be able to raise the price! Worse, even the opposite chance is what continually takes place in this regular trading case: the proposing party will always try to bring down your price as low as it could get (and you may even cannot help but thinking, more times than not, that such prices does sound truly humiliating!)
But none of these would happen if you let the best auctioneers take care of your house. Contact the best professionals in this bidding and ask them to appraise your property first. That professional appraisal is your good start to have a good price. (This also gives you another advantage really. If you think the appraised price is too low, you can start thinking of making some repairing or even some small redecoration project to increase the overall value of your house). The next step is to enter the bid. This is one small thing to consider: as far as the whole history of auctions, none bids less!