Forum Replies Created
Hi Kelly,
As I mentioned before make sure you are happy to buy this investment property with out the NRAS scheme, check comparable properties for pricing and rental demand in the area. Always be careful when the price is quotes as “From 335696” and “up to 100pw” Your individual circumstances may change these figures dramatically, ask what else needs to be done before the property can have a tenant move in. We use a specific check list for all our builders to ensure the property is full turn key on settlement.Let me know if you would like me to send you a copy of this list. The tenant should be able to move in once the property is completed, eg window furnishings, light fixings etc.
If you are happy after completing your research then the NRAS scheme can be a sweetener for you,keep in mind you will have to rent the property out 20-25% below market rent. You will have to fund this shortfall until you receive the first incentive from the government, ensure you can do this.Hope this helps,
all the best
PaulHi all, well done on a lot of the information on this post re the NRAS initiative.
Wuzziemoo and Deeo I know it has been a while since you have originally posted that “you were looking for an Adelaide company that may be able to assist you with NRAS”, I work for a company called Investa Solutions. We are based in Adelaide but I do deal with clients all over the country, I am happy to catch up with you and discuss the pro’s and con’s of adding a NRAS to your Property portfolio.
I believe the initiative allows the investor to have the best of both worlds, passive income from day1 and capital growth as you would get with out the scheme. I am currently building in Bendigo as I believe there is strong capital growth in the area, as a bonus we have been able to have a NRAS initiative placed on the property which will make it strongly cash flowed from day 1. The key point is you are happy with the area with or with out NRAS, if you can have it also it is just a bonus.I agree with some posts that NRAS does not guarantee all investments will be a profitable one, there are some properties that have been over priced due to having the NRAS initiative on them. What I like is that you can still build in what you think is a high growth area and have the opportunity to have the initiative provide you with cash flow, best of both worlds in my book.
The talk of the scheme being targeted at low income earners is wrong, as is the thought of not being able to sell the property with in the 10 yrs with the contract attached.
Let me know if you would like to discuss more.
