First Time Investors

Three big issues for first time investors are depreciation and tax,getting the property finished and getting it rented.

First time investors are usually already a good way down the track to having paid off their first home loan for the property they live in. They reach a stage where they want to take the next step toward a retirement nest egg or maybe they just want to try their hand at residential property investment.In this scenario there are some great reasons you may consider a new build. A brand new home as opposed to a second hand property allows you to claim depreciation as a non cash item against other income you earn from wages. You are permitted to depreciate the asset each year by very specific amounts. To work out your depreciation you need the report of a quantity surveyor who will present that report to your accountant. This can reduce your annual tax bill.The taxation benefits of investing in residential property have been much publicized and is often a major motivator for people to take this investment opportunity.

Much of the anxiety around the first investment property will be around getting the property finished . All fences,driveways ,letter boxes,fixed antenae ,solar panels,landscaping ,driveays paths all need to be installed and completed so a prospective tenant can move straight in. You cannot have a tenant moving into an unfinished property. This must be properly planned from the very beginning. This is a major focus of what we do is to make sure all of this is done as soon as is practicable around the time hand over of the property takes place.

Finally getting the property rented is another major issue that need sto be organised well and truly ahead of time. We organise a professional property manager who tgwetrs a rea estate photographer to market the property with professional phpotographs an d then manages the rental for the owner. This elimimnates alot of the first time nerves and juncertainty. We recommend using a professional manager the first time you rent property because as a novice in this area there are many mistakes you can make.