I have been speaking to a lot of people who own investment properties over the past month. I am surprised to learn a lot of people are less than happy when it comes to the performance of their property investment. I thought I would reach out to those people today as it can be an uncomfortable place.
Tax laws in Australia provide an incentive for people to own investment properties. For information about how negative gearing or buying a property with Super, you need to get financial advice from your accountant or financial planner. Many people get confused by this information.
Attending a property development seminar in 2008 I witnessed some slick sales strategy with aggressive growth forecasting.
Property investment businesses can often be owned by a sister company. This company could own the project they recommend. They might have a vested interest in recommending a house and land package. The key point is some of these entities are sometimes set up to sell their housing stock.
If you are reading this and thinking your investment property costs a lot more than the coffee a day it was supposed to this might be relevant.
I have spoken to several people who own investment properties worth less than they paid for the property ten years ago.
They continue to work to pay for an investment property with the hope that one day it will be worth what they paid for it.
It sounds crazy, doesn't it?
It's more common than you think.
What's even crazier is, some people invested because they desired a better lifestyle.
The prospect of rental rules changing due to COVID 19 will also have an impact.
Did you you want to be looking at the view in the photo and its not worked out?
There is some good news.
For those brave enough to confront the brutal reality of owning an investment property that is not performing there are ways to escape the trap.
If you want help that
A/ Does not involve selling you another property
B/ Does not involve selling you an insurance product.
Please contact me and I will be happy to help you get back on track.
Comments