I have recently attended a property investment seminar hosted by a better choice financial group. I am a very green property investor,but I know when things sound too good to be true they often are. The seminar was informative, explaining many areas of property investment. Can as little as $30 a week service a $300,000 investment property after tax concessions, depreciation etc? The fundamentals they provided are probably accurate. I am just a little nervous buying a property through them and paying an inflated price, after all they are not in it for the love. Can anyone please provide any feedback positive or negative on a better choice. Can anyone recommend a financial group that have provided long term successful property investment results.
I don't personally know the group, but a few things to keep in mind.
If you're going to buy a property through someone else, do your research. There is nothing wrong with buying through an investment property company, as long as what you buy prepresents both good value, as well as suits what you need in an investment. One of the problems with a lot of these companies is that they have only a few projects that they are promoting, and they try and fit everyone into them.
It's actually possible to have a property cost $0 per week, but it's never quite that easy. You'll have rates due some weeks, so those weeks will be negative, same as insurance and strata fees if it's a unit. If you're income changes, the tax changes and you may end up paying more or less. If interest rates go up, then it's going to cose you more. The number of elements that can chance are as long as my arm – and this will all have an effect.
If you're thinking of buying a property, you can always post the details of the property on here and ask for comments – that way you're getting genuine honest feedback.
Hope that helps a little – looking forward to seeing if anyone has dealth with your particular company.
FS
thanks for your advice Fin Spec most helpful.
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