There are nearly two million landlords in Australia today.
We Australians are surprisingly enthusiastic about property investment not only because of the tax benefits it offers but also because of the lucrative wealth creation opportunities that come from property investment.
When you invest correctly you have the ability to slash years off your mortgage.
For all the people that strike gold in property investment, there’s an even greater number that crash and burn.
Property investment is one area in which you can’t afford to go in blind. Anyone can succeed with proper guidance, however, if you are completely new to this, the following Property Investment tips might be exactly what you need to get you started:
How much can you afford?
A huge number of successful property investors in Australia today weren’t super high income earners before they made their first investment.
So it is important to understand that you don’t need to be wealthy to make your first property investment. You just need to get your finances in order. Figure out how much money you can raise on your own or tap in to the equity of your existing home. Then determine how much money you can secure through loans and mortgages.
The good news is we connect you with independent Investment Finance Specialists that can structure your finances to suit you and not the banks.
Once your finances are sorted out, then it becomes a matter of selecting a lucrative location to invest in. Most professionals will encourage you to identify property in prime areas.
However, property in these areas often can be too expensive for the average Australian to purchase, especially if they are new to the property investment arena. Central locations are definitely attractive but you can still make significant gains by identifying property in areas with strong growth potential.
That means locations that have all the necessary infrastructure and where the demand for rental accommodations has started to rise. Not only is property in such areas more affordable but you are guaranteed a greater return on your investment.
A Professional Rental Property Manager can ease the burden greatly to make investment property ownership management as hassle free as possible. At Compass Property we act as your big brother and refer in numbers to one or two select Rental Only real estates. As a group we have more power to ensure good 'hassle free' property management.
You should aim for functionality instead of luxury. Most people when looking for a rental property don’t need a fancy outdoor kitchen or a hot tub. As long as your property is clean and safe, in the right area, then it is much easier to rent out.
Lucrative Australian Property Investment opportunities are everywhere. You just need to know where to look. That’s where one of our Senior Property Strategists can go through and work on your own personal property investment strategy in a one on one session with you.
Property investment in Australia is one arena in which you don’t want to gamble. To arrange your Free Strategy Session without any obligation, call us on 1300 368 626 or fill in your details below.
17 Connor Street Burleigh Heads QLD 4220
Australian offices also in Brisbane, Melbourne, Adelaide & Mount Gambier