Ep 19 My investment property nightmare (and what you can learn)

Just days before Kym's well-earned Bali holiday, disaster struck. One of his tenants contacted him about a problem. And this isn't just any tenant - he's a lawyer who knows his way around the Tenancies Act. So Kym was on his toes, but still expected that the issue could be dealt with on his return from Bali. But on inspection, it became apparent that this wasn't an ordinary problem. An entire wall at the old house was on the brink of collapse, potentially threatening the safety of the tenants AND Kym's investment. Kym's foundations were tested even more than the house. Everything he stands for(and has spoken about on this podcast), including his investment style, property management process and other philosophies were questioned. Find out how Kym handled the disaster just days before his holiday, how his philosophies stood up and what he learned. (**Accounting Insider is now back weekly following Kym's holiday**) About Kym Nitschke, accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wealth building solutions for all people and circumstances. Whether it is minimising tax for a multi-million dollar business, a retirement plan for a high net worth individual, or business structure advice for a tradesman, Kym uses his decades of experience to develop plans for prosperity. As a Fellow Chartered Accountant qualified in financial services and mortgage broking, Kym offers holistic financial advice. A big believer in disruptive technologies, Kym has also developed his own accounting software and is a Xero certified adviser. More than just an accountant, Kym is successful property developer, builder and business mentor. Applying the advice that he gives clients daily, Kym has turned his first property purchase into a multi-million dollar residential and commercial portfolio. And as a qualified builder, he’s not afraid to get hands on with his property developments. As a proven success, and with diverse experiences and expertise, Kym is also a respected mentor to a number of business owners and entrepreneurs. Fellow Chartered Accountant Bachelor of Commerce (Accounting) Bachelor of Economics Xero Qualified Certificate IV in Financial Services Diploma of Mortgage Broking Management Credit Representative of BLSSA Pty Ltd Want to connect with Kym? Visit accountinginsider.net & nitschkenancarrow.com.au Hosted and produced by Andrew Montesi, Apiro Consulting. Visit apiroconsulting.com