Why choose property?
Obviously this is the first question that is asked and rightly so when there are many other options to invest in with some having the potential to produce a high return. The answer is six-fold.
- Historically proven capital growth
- Leverage
- Rental income
- Tax benefits
- Government support for property investment
- Drivers seat control of your investment
What is the goal of property investing?
The goal of investing in property is to remain in the market long-term. It is important that the property investment is kept within the investor’s budgetary ability so that they can remain in the market and reap the long-term capital growth. The good news is that you don’t have to be on a high income to start as many successful investors have an annual income of less than $70,000. You don’t have to be wealthy to invest in property, but you can become wealthy through wise property investing.
So how do we achieve this goal?
The principal that successful property investors employ is compound capital growth. This is achieved by using other people’s money i.e. the tenant and tax benefits to purchase property with the aim to see capital growth that will fund further property acquisitions.
Where do we start?
Many people look at property investment and pull back because they don’t have either the time or the expertise to research the best property investment options and then manage the whole investment process. That is why it is very important to build the right professional team around you that can assist you throughout the whole process.
Your team of professionals will need to include people who have the skills to be able to:
- Research an area to find the right place to invest
- Choose your investment property
- Construct a quality build
- Arrange the best financial package
- Conveyance for land and building contracts
- Select the right insurance product
- Property manage the finished product
- Provide a quantity surveyors report for depreciation benefits
- Property accounting knowledge to ensure you receive all tax benefits
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