When do you hit that sweet spot in your mortgage that you can think about using the equity in your home to buy an investment property? How do you go about talking to banks and your accountant about the possibilities? Today we are going to find out how you can use the equity in your home to build that investment portfolio you've always wanted, and make your capital worth grow.
Nello Traficante, Director and Founder of Bellmont's Accountants and Advisors has had 35 years experience in structuring and advising clients about how to purchase property.
1. There are a lot of home owners making monthly repayments on their home loans, but not realising that there is plenty of capital in their homes to leverage it to buy an investment. What percentage of equity should we have in our home to start looking at investing?
2. What type of property makes the best investments for first time investors?
3. Who should we have on our team when buying an investment property for the first time?
4. What sort of return should we be looking at?
a). How much of that return should we be putting aside each month to cover extras, like maintenance, property manager fees, council rates, etc?
5. How do we structure a property purchase to make it tax effective?
a). Lidia from Sunshine wants to know, do we need to set up an ABN or a trust to invest in property?
6. What can we claim as depreciation?
a). Can travelling to our property be a tax deduction?
b). What about when the property is vacant, is there any special deductions?
7. What are some of the common mistakes first time investors make when buying their investment property?
Nello can be contacted by email: email@example.com
or call: (03) 8849 0090.
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