i am not sure if this enough creativity but buying Off the plan is one ways but the question if this is good enough to create wealth in the long term
- buy something now and pay only 10% from the Sales price
- Finance it in 1 or 2 years time so you can rest in piece and save for the LVR contribution
- By the time we will reach 2014 for example the property will worth more so we will gain some equity.
- most of the projects of the off plan that we can buy today from private companies of developer are negatively gear.
- in this case your Expenses will be greater then the income.
- you will need to make effort to hold the property . and if you have many you will struggle if you not earn really high salary.
- You can't just leave work and take a leave as you must work and show payslips if you want to benefit from TAX deductive at the end of the year or monthly.
5. most of the off plan apartment for investment in the lower range, e.g. 1 bed, are small internally and some of the banks have hard to finance it (should be at least 50sqm)
6. Long and very slow strategy if you want to be financial freedom, get at least 10 property and not earn lots of money from the routine job.
7. This is the opposite from buying House and Land that grow in Value more then the apartment. (but this is different strategy)I can't say if it's good or bad, days will tell but this is definitely 1 strategy.
With all due respects there is so much missing/wrong in this post it defies some basic investment logic and experience.
Derek, joint venture is a good way to make high capital growth and high rental yield but is it risky?
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