Property investing is something that many of us aspire to. It is a great way to build wealth, secure our financial future and create a legacy.
Whilst it’s easy to get lost in the options and the details, there are three simple steps to successful investing.
- Buy well. This is all about the research. Firstly making sure you buy in an area that has high rental demand, good rent yield and strong potential for capital growth. You need to ensure you have a strategy behind your buying decision that includes your goals and timeframes. Finally, make sure you buy for a good price. Engaging professional support from someone who has done the research and knows what to look for is a great way to ensure you buy well.
- Manage well. Buying a property isn’t just a “set and forget” type of thing. Active management of anything will always get you a better result. A couple of tips here are to make sure you have a great property manager who communicates well with both yourself and your tenant – the aim is to find a good tenant and keep them! It’s also important to maintain your property well and have a professional depreciation schedule* completed by a reputable quantity surveyor. This allows you to keep your property in premium condition and maximise tax benefits.
- Sell well. What’s your exit strategy? When you’re buying your property, think about who will buy it when it’s time to sell. Is the area populated by a wide demographic that will attract a large number of buyers? Is there a high percentage of owner-occupiers? Do you have the ability to hold the property through challenging times or interest rate rises? It’s never good to sell under duress, so make sure you have contingency plans built in for these types of events.
Right now, South East Queensland really is proving to be the place to buy well because there is such a movement towards lifestyle and a re-thinking of priorities. Rental demand is sky high in key areas meaning vacancy rates are incredibly low, prices are still comparably low so you get more bang for your buck, interstate migration remains high and there is a huge amount of infrastructure investment.
Economically, the region is very strong and supports approximately 1.65 million jobs, with the creation of an additional 1 million jobs by 2041 expected. SEQ is growing at twice the OECD average and creating one in four of all new jobs in Australia, supporting more than 80% of QLD’s employment in professional, financial and information sectors.
It is Australia’s most desirable and fastest-growing region, with population forecast to grow by over 50% by 2041.
We just love this month’s property highlights, detailed below. They are in high demand areas, very well priced with excellent rent appraisals and built by reputable developers.
Please let me know if you’d like to find out more.
0416 049 226
* If you don’t have a Depreciation Schedule for your investment property, we strongly recommend that you have one completed before tax time. For a recommendation and discount to our preferred supplier, please contact me.