Investor Mistakes: Not Knowing which expenses are deductible and how to maximise them

Not Knowing which expenses are deductible and how to maximise them

By Glynis Carter

Disclaimer: Nothing is this article is meant to constitute financial advice of any kind, and is the opinion of the author only. Seek professional advice before making any financial decision.

 
 

The tax rules around deductibility of expenses for rental investments can be quite gnarly and you do need to have a good knowledge of the tax legislation to make accurate assessments on these.

 

Making a mistake in this area can be costly and may cause you to upset your long-term holding strategy. Some expenditure can become “black hole expenditure” where it is neither deductible nor depreciable, which is definitely not the outcome that you want.

 

When you are calculating your rental investment profit/loss and cashflow needs, there are normal rental expenses that can be claimed such as described by Phil in his chapter on positive cashflow. However, some items affect...

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Investor Mistakes: Not understanding Counter-Cyclical Investment and FOMO/FONGO

Here's a big mistake property investors make: Not understanding Counter-Cyclical Investment and FOMO/FONGO

 

By Sally McCormack

 
 

 

 

When you are new to trading property, you and everyone around you is making good profits, you feel invincible!

 

This was how I felt leading into the biggest mistake I ever made in my property investing journey.

 

I started property investing in 2014 and in that first 12 months we were in a very hot Auckland market. Vendors were very realistic with selling their properties and first home buyers and investors loved to buy our renovated stock, which resulted in our sale prices increasing as well as our profits. It was like we couldn’t lose! A deal with $30,000 after GST profit would turn into $60,000 easily. It was no wonder that we didn’t see the signs of the market changing, we had dollar signs in front of our eyes.

 

In 2015 The Reserve Bank announced that in October of that year they would...

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Investor Mistakes: Negative Cashflow Property Investments

Here's a radical thought: An Investment should pay US, not us pay IT

Disclaimer: Nothing is this article is meant to constitute financial advice of any kind, and is the opinion of the author only. Seek professional advice before making any financial decision.

 
 

Stuff-It-Up Strategy

When you think about investing, do you get really excited at the thought that you can LOSE money every week?

Well, you are not alone. People have been doing this for years in New Zealand and thinking it’s a great idea.

They purchase a property and the rent does not cover the costs of owning it.

“Which costs?” you ask. Good question. Things like: Mortgage interest and principle repayments, Land rates, Water rates (in some cases), Body Corporate fees, Insurance, Property Management fees, and maintenance to name the most common ones.

An example of this type of property would be:

Purchase price: $700,000

Rent per annum: $30,000 ($600 per week x 50 weeks, allowing for two...

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Property Renovation Pics: Recent Project

Property Renovation Pics: Recent Project

 

Before // After of a recent renovation project in South Auckland. How is that for a transformation?!?

 
 
 
Before and After shots: What a transformation!
We love that we are able to improve properties and provide high-quality homes for home-buyers.
 

This renovation of a trade property has just been completed as a Joint Venture by two clients who met in the AssetLab Programme.

 

It is a great example of people with different attributes and resources teaming up and making property happen.

 

“You’re the average of the five people you spend the most time with” - Jim Rohn

 

If you want to grow your network and be apart of an amazing community, get in touch.

 
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$47,000 profit in their FIRST Property Trade deal in Auckland!

$47,000 profit in their FIRST Property Trade deal!

In this training video Brandon and Kiri (Assetlab clients) share the details of their first trade deal which put $47,000 in their pocket AFTER all costs and AFTER paying GST and Tax! 

 
 
 
** (This video is an excerpt from AssetLab's Masterclass 'Client Case Study' taken from Module 5 ) **

Click HERE to watch

 

How many of those would you need to do to make a substantial difference to your life? Any questions? Ask away on the Facebook Forum.

Now, learn how to make sure your flip isn’t a flop, and then get trading!

As mentioned in the video: Adam from Top Snap can be contacted at [email protected]

 
 

When you are ready, here’s how we can help you succeed:

 

Join our Facebook page for free training, updates, and chat.

 

Join us at an upcoming course or workshop. Subscribe to stay in the loop or check out our homepage: Events on...

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Not treating Property Investment as a ‘team sport’ By James Upton

Investor Mistakes: Not treating Property as a ‘team sport’

 

Not treating Property as a ‘team sport’ By James Upton

 
 
 

Before I embarked on my property journey, I was a Triathlete.

 

A hard-grafting sport with an inherent solo aspect to it. Early starts with nobody to motivate you to get out the door at 5am, long 6-hour rides in the rain by yourself where no one would know if you turned around prematurely and went home for a hot shower.

 

When I got involved in property, I simply expected it to be the same. Individual and competitive, there are only enough properties for a few people, right? Wrong! This is one of the biggest misconceptions and mistakes I made and I see others make it as well. Property is one of the largest team-sports there is and there are more than enough properties to go around.

 

Luckily for me I started to realise this over the course of my first year in the property game. In my...

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FREE VIDEO: Barriers to Success with Property Investment

FREE VIDEO: Barriers to Success with Property Investment

Grab a cup of tea and get ready, this is a full HOUR of solid gold!

 
 
** (This video is an excerpt from AssetLab's Masterclass 'Barriers to Success' taken from Bonus Training Module ) **

 

In this training video Phil, Arn and David discuss the FIVE main barriers to success that hold Investors back.

They dismantle each one of the barriers and dispel the myths that get in the way of people achieving their goals.

Soak it up, and then get out there and plant the financial seeds which will set your future generations up for life!

 

That’s a pretty worthwhile goal huh?

 
 

When you are ready, here’s how we can help you succeed:

 

Join our Facebook page for free training, updates, and chat.

 

Join us at an upcoming course or workshop. Subscribe to stay in the loop or check out our homepage: Events on our Homepage.

 

Get in touch for a chat about how we...

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Scared Yet?

Scared Yet?

Most Kiwi's will struggle every day in retirement.

 
 
 

 

Struggle. After working all of your life, you have to 'cut back', count your dollars, and struggle. That is insane. Backwards. Broken.

 
Investing isn't a hobby or something to 'do on the side'.
 

It is a matter of personal security. It's serious. And most people are in denial and apathy about the consequences if they don't invest for their future.

 

It scares us how many people don't get it. It should scare you too.

 

If you want to hear from people who invest successfully and have their financial future (and their future generations') secured through sound long-term strategies, and who are very happy to show you how to do the same, get in touch with the Assetlab team. We will help you get started or keep going the right way.

 

Better yet...Attend the Wealth Accelerator workshop on November 30th in Auckland, it will be a GAME-CHANGER for you! Click...

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FREE VIDEO: Creating a Deposit for a home in New Zealand

FREE VIDEO: Creating a Deposit for a home in New Zealand

Saving for a home deposit is hard. And it’s getting harder. Hear the encouraging and inspiring story of how Adrian and Charlene CREATED a deposit for their first home using strategies taught in  AssetLab's Masterclass

 
 
** (This video is an excerpt from AssetLab's Masterclass 'Creating a Deposit' taken from Module 1 ) **

Click HERE to watch

 

Adrian absolutely believed there was no way he could afford to buy in Auckland. He proved himself wrong. 

"If you think you can, or you think you can't, you are right" - Henry Ford

Now, be the Little Engine Who Could, and go and make it happen!

 
 

When you are ready, here’s how we can help you succeed:

 

Join our Facebook page for free training, updates, and chat.

 

Join us at an upcoming course or workshop. Subscribe to stay in the loop or check out our homepage: Events on our Homepage.

 

Get in touch...

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Investor Mistakes: Not understanding your 'WHY?'

Investor Mistakes: Not understanding your 'WHY?'

 

By Arn Mehta

 
 
 

When starting your Property Investment journey, it is so important to understand your end goal, or at least have some sort of strategy, as to what the end goal might look like.

 

Your ‘WHY’ might change over the years and that’s okay, life throws a lot of changes and challenges, but what is so important is to at least know why you are getting into Property Investment to start with.

 

In the beginning of my Property Investment journey, my ‘why’ probably wasn’t strong enough. The aim of ‘get wealthy’, and because a few books suggest Property Investment is a good idea doesn’t really cut it. Some of my mentors owned substantial portfolios (20+ properties at the time) and so I thought that’s what I want to do. By the time I had bought a couple of properties, some of my friends and peers had grown theirs even...

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