Finance advice
Luke Harris and Matthew Bateman

3 tips to make additional money on your property portfolio

By Luke Harris and Matthew Bateman

When we’re young, the bulk of our income goes towards paying our bills, mortgage, and lifestyle. As we get closer to retirement, we want to pay for our lifestyles through the financial assets we’ve accrued throughout our lives. Here’s how to accrue some extra funding from your portfolio.

Your retirement income may come from interest payments on term deposits, or government bonds, a pension payment, or dividends on shares, or rental income from your property portfolio, for example.

According to the Switzerland-based Bank of International Settlements, Australian house prices have grown by a massive 6,556 per cent since the early 1960’s. That works out to be an average annual increase on property assets of 8.1 per cent.

If we jump into our Hot Tub Time Machine and go back to 1973, for example, a median house in Sydney would have been worth $27,400 and just $19,800 in Melbourne.

Now, for those of you who are old enough, imagine what your financial life would look like if you had you been able to secure an extra one or two investment properties back in 1973. Or in 1983, or even 2003.

Clearly, the key to lasting, sustainable wealth is to start building your asset base as early as possible.

So, what should we be focusing on at different ages?

16 – 35 years old

Up to this point of your lives, you have probably spent most of your time studying and/or are entering into the initial phases of your working lives. Let’s assume that you start work at 25 and plan to retire at 65 years of age (even if most of us in this age bracket are not thinking that far ahead), that means you will be working for 40 years. The average full-time adult earnings in November 2017 was $1,628.10, or just under $85,000 per annum.

So, assuming you only earn an average wage over the course of your working life, it is likely that you will earn at least $3.4 million and probably in excess of $5 million or $6 million by the time we factor in wages growth and inflation.

So, the real question is, what are you going to do with all that money? Well, most younger Australians will spend the vast bulk of their incomes on costs of living (e.g. rent, food, bills), establishing themselves (buying cars, clothes, tools, handbags, jewelry, computers, whitegoods, etc.) and often gaining invaluable life experiences (travel, relationships, etc.).

However, some people start investing early. Luke, for example bought his first property at just 20 years of age, because he chose to defer certain things in life (like travel) in order to get onto the property ladder as early as possible.

Rentvesting, may be a good strategy to consider at this stage of life. That is, rather than buying your first home, you buy your first investment property instead and let the tenant and the tax man help you pay for it!


36 - 45 years old 

The typical Australian has probably been focused to this point of their lives on raising kids and paying the mortgage on their principal place of residence, but now is probably the time for those that have built up some equity in their home, or have savings for investment purposes, to look at broadening their asset base.

As a general rule, the earlier you can start to build a portfolio, the better. For example, a good quality investment property, after accounting for the rent from the tenant, and any tax deductions, may only require $20, $50 or $100 a week to control.

The main goal here is to accumulate as many high-quality growth assets as you safely can without putting your cash flow under any strain.

46 - 55 years old

Peak earnings occur for most people between ages 40 and 55. Now, assuming that the kids have flown the nest, or are at least not leeching off you to the same extent as when they were younger, you may now have more disposable income to start accelerating your asset purchases.

You might also want to consider salary sacrificing, or making voluntary contributions to further boost your superannuation.

56 - 65 years old

For those that have seen equity on their home or investment properties, now is a good time to look at consolidating your asset position and maximizing your cash flows. You might consider downsizing the home, or selling off an asset or two, to re-balance your debt levels or at least have plans in place as to how you are going to transition towards your retirement years.

65+

Unless you were late to the party, or have missed the boat altogether, and are still in asset accumulation mode, now is when you may want to start to re-align your assets to be more focused on income than growth.

Assuming that you have followed a carefully constructed wealth plan, started your asset accumulation early enough, and been well invested over the long term, now is really the time to look at enjoying your golden years, leaving a legacy, or helping out others with either your time or any extra money that is surplus to your lifestyle requirements.

So, here are three things we all can do to ensure we have a great retirement:

1. Have a plan

We travel all around Australia educating thousands of Australians every year on how to use property to better help them achieve their financial goals and are consistently shocked with how few people actually have considered a  property investment plan. If you need assistance in creating your property investment plan, then reach out as we are here to help.

2. Start early

According to Einstein, “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't, pays it!”

3. It pays to get educated

Unfortunately, things such as the collapse of Storm Financial, Westpoint, Opes Prime, Trio/Astarra, Sonray Capital and Great Southern Plantations, and decades of financial and banking scandals have shown us that it is can be hard to know who and what to trust. That is why we always recommend that you increase your knowledge base and get well-educated in any markets you may want to be investing into.

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Will Magee has had ambitions to enter into the Australian property market for quite some time, but it has been more than just finances holding him back.  Having been granted permanent residency just two weeks ago, Will is wasting no time and is now in the process of signing papers and finding his first investment property.

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In this episode of the Smart Property Investment Show, Will joins host Phil Tarrant to share why he is purchasing his first property in partnership with his brother, discuss the complications that can arise from such a strategy, and unpack the ongoing plan for building a joint property portfolio with his brother.

Will will also share how they approached saving for their first property, why he is taking out the mortgage in his name exclusively, and share their savings plan for the year ahead.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

RELATED AREAS OF INTEREST:

From property in Australia to a ski lodge in Japan
Mortgage Trusts, an alternative first step for property investors
Should a real estate title be in one person’s name only?

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A property investment plan years in the making
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Median house prices in regional Victoria outperformed that of Melbourne in the June quarter, the latest REIV figures reveal. 

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Median house prices in the regions rose 4.0 per cent to $419,500 but in Melbourne they dipped by 0.6 of a percentage point to $840,000.

The result in Melbourne was due to a 0.8 of a percentage point fall in prices achieved at auction; this was despite a lift of 2.3 per cent in private sales.

Inner Melbourne suffered due to auction prices, where median prices fell by 4.9 per cent to $1,459,000 but it was middle Melbourne that was hardest hit, with a 5.4 per cent drop to $974,500.

Outer Melbourne had a good quarter with the median rising by 0.5 of a percentage point to $681,000.

Apartment prices in regional Victoria grew by 3.7 per cent to $304,500 while the metro media was up by 0.5 of a percentage point to $604,000.

REIV President Richard Simpson said that despite fewer sales, many sectors of the market were performing well.

“2017 was a bumper year and while the trendline has flattened, despite the fall in median house prices in the June quarter, median prices are still up this calendar year for both houses and units, in Melbourne and in the regions,” Mr Simpson said. 

In particular there was been strong growth in regional centres which is probably due to the first-home buyers’ concessions said Mr Simpsons.

“The first-home buyers’ concession has been a boon for regional areas. A new entrant to the property market buying a house at the regional median will pay no stamp duty, while a first home buyer of an apartment in Melbourne at the median price would pay stamp duty of nearly $25,000,” he said.

Mr Simpson said that more prospective buyers are looking towards regional Victoria which is also having an effect in Melbourne.

“Melbourne’s outer perimeter continues to grow. Small increases in the June quarter mean that the median prices for both houses and units have risen over 10.5 per cent from a year ago.

Mr Simpson said moving forward that vendors need more realistic expectations as the highs of 2017 are now over.

“Negative chatter about the future of the sector coupled with stronger lending controls by financial institutions has created some uncertainty and vendors need to be realistic with their price expectations,” Mr Simpson said.

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Regional Victoria showing up Melbourne in price performance, new data finds
object(stdClass)#1205 (52) {
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  string(38) "From pirouettes to property investment"
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  string(381) "

If Mark Hodge’s face looks familiar to you it could be because of his time working as a professional entertainer which saw him working with the Australian ballet, appearing on multiple seasons of Dancing with the Stars and touring in musical theatre for 17 years. What you may not know is that Mark is also heavily involved in the short-term property rental marketspace.

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Mark joins host Phil Tarrant to discuss his transition from entertainer to investor, a journey pushed forward by dance related injuries and even a hit and run which saw him needing to find alternate methods to bring in an income. Mark shares how bad long-term tenants and a gang member guided him to the short-term rental market, and how this pushed him into helping others to realise the same benefits.

Mark will also address the common concerns, discuss what his company Maisonnets specialise in and unpack how they are making the process of filling short term rentals easier for investors.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

RELATED AREAS OF INTEREST:

The hard-to-swallow truth: The prickly points of the Airbnb reforms
Airbnb reforms unpacked for property investors
Airbnb leasing: What are a landlord’s rights and responsibilities? 


AREAS MENTIONED:

Melbourne
Sydney
Rushcutters Bay
Maroubra
Potts Point

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From pirouettes to property investment

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