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The tax changes haven’t hurt them – why 2 former nurses say yield and land are paying off
Negative gearing was never part of the plan for Iconic Investing’s Aneesh Thomas and John George. They buy for cash flow, land and below-valuation prices, and say price corrections are now opening up even more opportunities.
On this episode of The Smart Property Investment Show, host Liam Garman speaks with Aneesh Thomas and John George of Iconic Investing, two Brisbane nurses-turned-buyer’s agents, to ask: if your strategy never depended on tax breaks, what is there to fear from tax changes?
So, how have they stayed the course through the federal budget and shifting interest rate expectations? They target affordable markets between $400,000 and $600,000, tight rental conditions, land of more than 600 square metres and yields of at least 4 per cent.
They also reveal what they avoid, from house-and-land packages to markets that have already run hard, and share the mistakes they see most often: emotion tops the list, followed by chasing tax outcomes, “backyard” investing and hotspotting. Thomas tells the story of a friend who bought a $1 million Brisbane property renting for $700 a week and is now working overtime to cover the repayments.
Along the way, the pair discuss where they still see value in regional Victoria and NSW, why high rates can mean less competition, and why they believe the best time to buy is whenever you’re ready. George also opens up about the commercial property lessons he learned the hard way, including an office that sat vacant for 10 months, and why he says it isn’t for everyone.
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