It’s my anniversary in June. While it’s been a blissful three years of commitment, it seems I’ve got a case of the three-year itch. I’ve realised that I’ve been longing for more, searching for further fulfilment. Real estate fulfilment, that is.
Three years ago, I became the proud owner of a neat, inner-city sub-penthouse (aka, one set of stairs short of the top). But I was so chuffed with myself for making it through my first home purchase alive that it never crossed my mind to do it again anytime soon. Nevertheless, the lure of a good rental return and tax depreciation has started to lower my resolve I suppose.
I’d heard the rumours about growing your investment portfolio to increase your income and tax benefits but wasn’t this the stuff for astute property investors with endless investment portfolios and a hankering to accelerate their wealth creation?
As a 25-year-old whose toe is only touching the surface of the water, it seemed unachievable to me – even though I work where I work, I am still a Gen Y and like to live life as well as be a “responsible” homeowner.
But that was until I took the time to research it a little more. So at last September’s REIQ buyers’ seminar I listened more than I might usually do so I could understand what my options were. Throughout the morning I learnt from the experts:
- What areas and types of properties were in my budget in the current market;
- About an investment plan with the bank using personal debt management;
- How to claim a tax deduction on depreciated items and create additional cash flow; and
- What incentive schemes were available for me.
Suddenly, expanding my asset base didn’t seem so unachievable or so terrifying. So in the next few weeks, armed with a headful of knowledge and a few butterflies, I am starting my search for my first investment property.
The free REIQ Experts’ Guide to Buying Queensland Property seminar is on from 9am to 1pm on Saturday 23 March at Real Estate House in Coorparoo. Guest speakers include RP Data, Napier & Blakeley Tax Depreciation, St.George Bank, Metropole Properties Buyers’ Agents, solicitors and more.
If you would like to come along (did I mention it’s free!), send an email to email@example.com and we would be happy to register you. Spaces are limited.