PHOTO: Property investment
Property investment is a popular pastime for more than two million Australians, but if you want it to grow you riches you need to treat it as a business instead. Here’s why.
Real estate investors who stop at one property will have a tough time trying to achieve their financial dreams, specialists say.
The latest Australian Taxation Office data shows 71 per cent of the nation’s 2.15 million landlords have just one property. Nineteen per cent have two properties, 6 per cent have three and less than 1 per cent – about 20,000 people – have more than six.
Metropole Property Strategists CEO Michael Yardney said investors who wanted an extensive portfolio should treat it as a business rather than a hobby, and needed a business plan and finance strategy.
Peter Koulizos says an investment property combined with super may be enough. Picture: Mark BrakeSource:News Limited
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