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Because of this, people are seeking for viable investment options that will help them attain more financial security and assistance.
Purchasing a property is one of the great Australian dreams and offers many benefits to investors. First of all, it’s a safe investment, not much complicated but requires proper knowledge of the current market, and Australia offers plenty of opportunities to materialize this dream. While property investment is a wise decision and a long-game, it is one of the viable ways to generate positive cash flow. But how does it actually help, read below;
Multiple Income Source
Purchasing a property and leasing it to tenants gives you an immediate source of a second income. Receiving an additional income stream can help you in a variety of ways such as, paying back mortgage or supplement savings.
Once you are in the game, you can work on how to smartly utilize and increase the quantity of income. In initial stages, you may not be able to cover big payments like a home loan but with the right investment plan, you can attain financial freedom with these multiple incomes.
Effortless returns make property investment so attractive. Having a property means you have a source of passive income without any time commitment. Plus, you will get opportunities to increase this passive income with multiple tenants and rental increases.
The Australian Government gives several tax advantages to investment property holders, which includes:
Depreciation, which is the decreasing of the physical value of a property, like building or items contained within, can often be claimed back. Some general expenses, repairs & maintenance can also be claimed back. Don’t take it as a piece of taxation advice and always consult an expert tax professional or our property investment specialists in Melbourne before making a decision.
It Can Increase Quicker Than Your Savings
To build sufficient savings requires discipline, patience, and consistency, and as time passes it seems like you are not making much progress. But with smart property investment plans, you can see a spike in your savings. Property investment has its ups and downs, but property values usually go up over the long-run and surpass the rate at which you can save.
Like every other business, property investment requires proper knowledge and plans to successfully generate income. Reach out to our property mentor in Melbourne, who can help you step-by-step in your journey to build a healthy portfolio. To know more about 10 Properties in 10 Years, call us at 1300 617 677 or send us an e-mail at [email protected].