Long term investment
Buying a house to rent out is a popular long term investment.
The difference between making money and losing money in your property investment journey comes largely down to the selection of the correct property investment.
Firstly, you need to ensure that you take factual unbiased research and have the relevant tools to your disposal. You need to confirm you have the proper professionals there to assist in your decision making, and not rely on the word of family or friends. You will also need to look at the property area and see that it meets strict criteria based upon capital growth rates, population growth rates, residential vacancy rate, median property prices, rental yields, location, client, resale, demographic and value.
Omnia 10 Point Selection Criteria
A great way to do this is to refer to our 10 point selection criteria guide. You will be able to see in more detail, why you need to tick all the boxes when selecting a property for an investment.
Depreciation Schedules & Tax Variation Forms
Another good idea would be to ask with your accountant to complete depreciation schedules and Tax Variation Forms based on quantity surveyors reports. These are ordered by your Property Investment Advocate. This may ensure that you you have your tax rebate paid upfront on your regular pay to minimise or negate any potential out of pocket costs due to maximum tax benefits. If you would like to speak to someone about this please click here.
You can then settle in to watching your investment grow in value. Contact us now to see how we can help!