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1300-729-177
or 02-9210-1000
- Want to build your wealth through a investment property? ...
- Or build a portfolio of property assets? ...
Investing in property?
Want to grow your property portfolio with assets that can provide you with a regular income and potential tax benefits? This page gives you a summary of the main things you need to know.
Please note that because there are numerous factors that influence your capacity to purchase an investment property including your liabilities, your potential rental levels, and your allowable tax deductions, it is very difficult for us to give generic information about this topic. Speaking to us or using the Loan enquiry form is the most accurate way to find out your loan capacity.
Use your existing property to purchase an investment
If you currently own a property you may be able to use your existing equity to assist in purchasing a new investment property. If you have sufficient equity you also may be able to arrange a loan to cover all costs taking away the need to make any contribution of your own. Home Loan Advice Centre is able to assess you situation to determine your capacity. The potential rental income from your new investment adds to your existing income so you may not have to earn a large salary to be able to get into the investor market!
First time entry to the property market
Are you looking to enter into the property market yet don’t quite earn the income required to get your desired property? You might want to consider making your first property purchase an investment property. There may be advantages for you as potential rental income on the purchase may be used and different lenders also can take future tax concessions into account. This could make your borrowing capacity much higher and allow you to purchase a more desirable property now, which you could keep as an investment or move into at a later date.
The first home owners grant however is generally not available for investment property purchases, however there are certain situations when you can claim it so please talk to us about this.
Abolition of the vendor duty
NSW disposed of the vendor duty tax in August 2005. This was a 2.0% tax levied on investors when they sold their property. The abolition of this unpopular tax has reduced costs for property investors and provided some additional recent stimulus to this market.
Tax concessions
An additional bonus of investment property is that tax deductions may be available to you. In general, you may be eligible to generate a tax concession on any losses incurred on the ownership of investment property. For specific information related to your eligibility and the actual amount of tax concession you can claim, you can arrange a no obligation appointment with our in house investment property advisers – Ross Associates - who specialise in sourcing suitable investment properties and providing related tax advice.
Servicing a loan
Different lenders allow us to utilise your income in different ways. Some lenders allow 100% of your rental income to be used. Also there are lenders who allow us to include your forecast tax concessions in assessing serviceability. These differing factors between the banks can determine how much they will lend you. With Home Loan Advice Centre experience with all lenders we can look at your situation and fit you with the best loan for you needs.
Investment Property Specialists
Ross Associates are independent Investment Property and Tax advisers that operate from the Home Loan Advice Centre offices in Sydney. Ian Ross will conduct a financial analysis of your situation and offer recommendations on suitable and tax effective investment property strategies.
Please call Home Loan Advice Centre on 1300-729-177 or 02-9210-1000 for a free and no obligation consultation.
For more information on this topic or any other topics please call Home Loan Advice Centre on 1300-729-177 or 02-9210-1000 or see the following links:
Remember, our service is provided completely free to you so if you are looking to buy a home or investment property in the near future, we recommend the following.. Firstly, you can click on the following link to go to our online enquiry form. It only takes 5 minutes to complete and with this information we can assess your loan options. This is not a loan application and it's no obligation..... it just allows us to work out your loan capacity and inform you of what position you are in. Also, when we send you your assessment email, we'll also include parts 1 and 2 of our free Home Loan Advice Centre e-Course. The e-Course is a 35 page indepth guide that gives you all the information you need about buying property in Australia. It goes through the common methods of purchasing property and gives an indepth description of each stage in the entire home buying process. It's especially usefull to first home buyers. Click here to see a sample of what the e-Course contains (pdf opens in new window) |
