Sure, investing in property is one of the most sure-fire ways to secure your future. But just because it’s considered a ‘safe’ move, doesn’t mean you can’t make some big mistakes in the process! Over the years, I’ve seen some pretty confident people make irreversible errors with property – all of which could’ve been avoided if they sought out expert investment property advice first.
The first thing you need to know is: why are you getting an investment property? What’s your intention and goal with it? Are you looking for passive cash flow, or tax offsets, or perhaps just security for the future? The answers to those questions make a big difference in how you make your purchase.
For example, a common cash flow investment property’s is a commercial building where there’s space to rent out to tenants. If you get the numbers right here, you might end up with positive cash flow from it – which means, more money in your pocket!
But what if you don’t want to add to your income, you want a beneficial way to offset it? Then negative gearing with a residential property might make more sense for you. Being one of the most popular forms of property investment in Australia, purchasing a home, unit or apartment – then contributing to its costs each month – might just dip you underneath the tax threshold to save you some serious dollars. What’s more, you get a solid asset in your property for down the track to boot!
Then there are the questions of affordability, insurance, location, tenants, expenditure, capital growth, depreciation, tax structure (should you buy in your name or in a trust?), and much more to consider. Do you know the answers to all of these?
I can see your confidence waning, but let me restore it now! Getting sound investment property advice is part and parcel of taking the plunge into becoming an investor. Save your money now by consulting with myself or my property team, instead of wasting it on mistakes after it’s too late.
My approach to your success is to get to know you, understand what your needs are, what your financial goals are, and then set up an action plan for you to achieve it all!
You can drop in to see me or my team at 173 – 179 Bigge Street in the Liverpool CBD. Or call us on 1300 135 918 to discuss your investment property questions today!