Have you ever dreamt of investing in property but never got around to it? With interest rates at a record low there has never been a better time to start planning your property investment journey.
Property Initiatives has some tips to help you on your way.
- Popular with most Australians, property can be an excellent investment choice. It is a solid asset class that can potentially provide you with a passive income stream, a secure long term investment with good capital gains. Current record low rates means more properties are now moving into cash flow positive territory.
- Finance is a critical component of any investment journey. How you go about investing in property will depend on your current financial situation. A thorough review of your finances will determine a pathway on how to maximise your cash or equity and build a sustainable property portfolio.
- Have you considered obtaining finance approval before making offers? By doing so you will be more confident in the knowledge you can afford to invest at the right price point.
- When investing, there are so many questions to be answered. Can you afford to invest in property? What is the likely cash flow of your investment? What tax advantages are available to you? Will your disposable income and quality of life be impacted by your investment? We recommend taking the time to write down the potential costs and benefits of each and every property before you consider buying to ensure alignment with your financial goals.
- When looking to invest in property, it’s best to understand the impact of gearing, tax, depreciation and the benefits they can have on your investment returns. Be clear on the risks involved, the deductions you can claim and what you can depreciate.
- You may wish to invest in a cash flow positive property, a renovators delight, or an off the plan unit. There are many strategies available when investing, to be successful be clear on your direction and stick to your strategy.
- Research, Research, Research. Successful property investors do not become successful without thoroughly researching how they are going to invest, where there are going to buy, what they are going to buy and when the right time to buy is.
- Whilst it’s great to have the support of family and friends, we strongly recommend working with trained professionals. Be sure to consult with a property investment advisor, accountant, tax specialist, lawyer/conveyancer and mortgage broker. These key people are on your team, ready to guide you to success.
The qualified team at Property Initiatives provides unbiased property investment advice across Australia and beyond. As part of the Business Initiatives Group, we also provide a variety of tailored services in the area of financial services, loans, super and accounting.
Our team will happily assist in building your successful property portfolio. Why not give us a call?
Contact Chris Sedgmen on 08 8431 8444 or email email@example.com.