High quality established investment properties in blue chip locations are better investments than off-the-plan properties your Broker/Financial Advisor/Accountant is suggesting you buy so they can get a 25k kick back from the developer…
Always remember that if you are not paying for advice, that means the person giving you the advice is likely acting in their own interest and not yours.
When professionals trick their clients into buying off-the-plan properties for random reasons like depreciation or rent backs. They do so not because it is good for you, they do so because they will likely receive around 5% of the purchase price of the property you eventually buy.
That means these professionals are acting in their own interests and ultimately the interests of the developer. This is not a conflict of interest by the way, as property advice is an unregulated industry and getting kick backs isn’t illegal.
So it can be wise to ask if they are receiving a kick back for the ‘introduction’ and if so, seek a second opinion from others that you do pay for advice and act in your best interests.
Don’t let your life savings become a commodity of others to use to enrich themselves. IMO established investment property bought in high quality locations are a better and lower risk investment for most investors most of the time. There are a few exceptions to this rule but it is rare.
So before buying an investment property, seek information from multiple sources and don’t always assume that you are getting the best advice because you’re receiving the advice from a financial planner or an accountant.
This post of for educational and entertainment purposes only. Please contact your financial professional for specific advice as it relates to your unique financial circumstances. Nothing in this post is given or to be considered financial advice.
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Rentvesting or homeownership
Rentvesting is where you rent where you live and purchase investment properties elsewhere.
This strategy is useful for a lot of people, especially for those in the more expensive areas of Australia’s major capitals.
If you live in a less expensive area then homeownership may likely be the best option unless you want to keep the flexibility of renting.
We model this out in our property portfolio plans for clients so we can let the numbers do the talking and see what is possible for people in each approach.
There is no one size fits all approach to property. What is right for you won’t be right for the next person.
So more detailed modeling needs to be done.
This is not financial advice. This is for education and entertainment purposes only. Contact your licences professional for advice.
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Current Asking Rents for units
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