Should You Be Investing in Property?
To be honest, investing is not for everyone, but there are some people out there who want to retire early, have some extra money on hand, or just try a new income stream. No matter what your reasons may be, here’s why people invest in property.
Incredible Tax Benefits
One of the coolest benefits of investing in a rental property is the tax concession that comes along with it. After you’ve paid all the loan repayments, council rates, and utilities, these become an offset on your taxable income and this can be great come tax time.
Grow Your Capital
In Australia, real estate raises your capital, as long as you are patient and don’t have unnecessary expectations. Often anytime is a good time to enter the real estate market, so you can jump in anytime, although patience is a must-have!
You Can Retire Early
Many people think stocks will make them retire early, and that may be the case, but people with rental portfolios are often the ones to retire early. If you own a certain number of rental properties, you will be able to live off the after-tax stream of income comfortably. But to be able to retire off your property portfolio, you will need to track a few metrics and be weary of the market.
Hire A Property Manager
A property management agency in Point Cook like Established Property, can make all the difference in whether or not you can sustain property-based investments. This is because a property manager will take most of the work out of your hands. They handle inspections, vetting tenants, inspections, and chasing up rent. They do take away from your earnings a little, but not everyone can manage properties and their life at the same time.
Passive income Stream
If done right, property investment can turn into an additional income stream. If you have a goal of pocketing extra cash per month without doing too much work, a property investment can be helpful, especially if you find a quality tenant who stays long-term.
Leverage your equity
Once you get started with one investment property, getting your portfolio growing is easier as you can leverage your equity. This is what happens after your first investment property rises in value, and you can now refinance this property and use this to deposit another property and this allows your portfolio to grow.
If you’re tossing up between starting to invest in property or something else, the best long-term option is property, stock markets can crash, but property markets tend to rise. So invest in property if you’re considering making more money on the side and and you can also check experts like https://www.estproperty.com.au/ .