Interviews with a growing number of savvy young professionals have revealed a smart way to grow a smaller house deposit into enough to eventually purchase a home in the Sydney and Melbourne markets.
By investing in the more affordable property markets in South East Queensland, future home owners are able to grow their initial cash deposit at a far faster rate than what they might otherwise be able to do through just savings. The old saying of "Rent where you want to live and buy where the value and income is" has never been truer.
“This is how people aged in their 20's and 30's are now approaching saving for a larger house deposit, whilst still keeping their risk exposure to a minimum”, says Positive Income Director Gil Elliott, who specialises in selling properties which generate cash and grow in value within the Greater Brisbane area.
“Even those looking to pay down debt on their existing home are investing in Brisbane properties now, with a view to eventually sell that in 5-10 years. The growth in equity by value-adding to these properties will allow these smart investors to help pay off the remaining non-deductable debt on their owner-occupier properties”.
Interested in learning more? Follow these simple steps:
How simple is the process, and how realistic is it to buy a cheaper property in
the Greater Brisbane area?
The medium dwelling price in Brisbane is just $484,882, whereas this is $619,804 in Melbourne and $776,135 in Sydney. This equates to being 37.53% cheaper than Sydney, and 21.77% cheaper than Melbourne. However, this doesn’t mean that you need $484,882 in order to secure your Brisbane investment, with apartment and townhouses available for as little as $200,000 in areas such as Logan, which is just 21km from Brisbane CBD.
In saying that we work with Positive Income Properties ( that pay more in rent than your mortgage) that can deliver over $1,000 per month cash flow and fantastic tax savings by the new build depreciation. That is because you get two incomes from one property.
That’s all well and good I hear you say, but how does this equate to growing my deposit?
This is an example of how we have grown one of their client’s investment almost $100,000 dollars in equity in a little over 12 months.
HOW DID WE DO IT:
We arranged for them to purchase a Duplex in S E QLD for $650,000 that when completed we rented out for $750 per week. That is 6.00% gross which covers all costs such as rates, insurance, maintained and your bank interest cost, plus leaves over $1,000 per month positive cash flow.
Our young investor then spent just under $10,000 to strata title both duplexes and added over $100,000 or $50,000 per side in value. After a short time they were able to show that the income and the new value of the property allowed them to add to their savings and purchase another property that improved their financial position further.
Want to know if you can do something similar?
Step 1 Call me on 1300 171 000 or email me at email@example.com to discuss how we can make this happen for you, so that you are well and truly on your way to have property investments and a home, far quicker than your fellow average Gen Y.
Step 2 After answering a few questions we will partner you with an expert property investment advisor most suited to your needs.
So do not delay call or email and we will help you become financially independent with Positive Income Property.