Partners In Property
The 22/23 Financial Year has come to an end. It was an interesting year for investment properties; with high interest rate hikes offset but extremely low vacancy rates. There was also ongoing capital growth in Perth even though we remained as Australia’s most affordable city. Where in the past, investment properties could be more of a ‘set and forget’ addition to your property portfolio, these days there seems to be a lot more work involved. Here are some ways that you can make your investment property journey easier and more rewarding.
Firstly, speak with your accountant about the best structure within which to manage your property portfolio. This will be unique to your level of income and other assets so make sure you get personalised rather than general advice.
Secondly, speak with your bank about loan options and interest rates. Unless your bank can reward you for the years that you have been making them money, it may be time to look for who can offer a better deal.
Thirdly, find yourself a property manager or sales agent that is going to get you the best return on your investment. The whole idea of an investment property is to be making passive income.
Successful property investment can’t be done alone. You need partners in property to ensure that your investment works for you. Consulting with your accountant, bank manager, real estate agent and, of course, finding a great builder with experience in the industry (like Activa Developments!) will set you up for wealth generation in the long term as well as improving your current and future lifestyle.