Our Portfolio

This property investor breaks down his expenses for holding 12 properties in six years

By Bianca Dabu
Numbers, expenses, property investor, investment

Smart Property Investment’s Phil Tarrant has been an avid property investor for the past six years, holding an impressive 12-property portfolio which he hopes to grow continuously with the help of his financial team.

His accountant Munzurul Khan believes that his journey is going well based on the data that they have been religiously tracking and updating since the very beginning. Some of the information they use to gauge the performance of the portfolio are cash flow, tax loss, and overall expenses.

At the moment, Phil’s total tax loss sits at around $190,000, which may seem quite a lot for some, but according to Munzurul: “[This amount] is really not your out-of-pocket because that includes a whole lot of a non-cash expenses such as your depreciation expense, your one-off potential renovation—extraordinary sort of a cost, [so to speak]."

“When we take away those one-off costs… [and] we take [a few of the] tax benefits that we received along the way, as well, [then] we adjust all of those… we reach into a dollar value of about 180 thousand.”

Overall, it cost Phil $180,000 to create $2.4 million in equity over a period of six years, or about $18,000 per year—an incredible feat for most property investors, especially those who are yet to enter the “maturation phase” of their property investment journey.

Munzurul explained: “The reason why it is costing us 18 grand and… why we are comfortable that it is costing us 18 grand is because we still are arguably at the beginning of our investment cycle—it's not a matured investment yet. [You are in] the acquisition stage, where you're buying properties more and more [and] it's the capital growth of the asset that is purchasing as such.”

According to him, they have used the “most conservative of the conservative” approach to make sure that they are making the most out of this journey while also minimizing risk as much as possible.

“What is really the cash deposit that you had? The answer is zero because we've absolutely counted for every single cash. When we cost your portfolio, so to speak, we cost literally 105 per cent—we cost the entire purchase price,” he said.

“We also cost your purchase relative cost, all the incidental cost, all the cost that we included. We're being the most conservative of the conservative, so to speak—those 12 properties that you have in [three] different estates are costing you about… $1500 per property per year, [which is] pretty alright.

To break it down even further, Phil shells out around $346 a week “in real money” to hold his portfolio—an asset base of $6.1 million with more than $2 million worth of equity.

Value of returns

While it is impossible to predict the total value of returns, Munzurul believes that Phil and his financial team are going in the right direction.

“You've got a portfolio which is [a] 6.15-million-dollar asset value… What would be the return in the future? Of course, we don't know [because] it would differ on a year-by-year basis, [but] if you use the most conservative, let's say about 6 per cent... we [could be] making about seven thousand dollars per week with the cost of 300-odd dollars,” Munzurul said.

For people who aspire to invest in properties that grow in value and delivers a positive cash return, Phil believes that it’s vital to surround themselves with reliable property professionals who understand their capabilities and limitations as an investor.

After all, no two property investment journeys are the same, and the path to success varies from one person to another.

“Over time, if you stop aggressively growing your portfolio and just let the properties go up in value and keep the deposition the same, you start creating passive income. For us, we're not yet at that phase because we're in the process of building,” said Phil.

“If you avoid your accountant, you should be seeing them as a trusted ally and confidante who can help support you as you get on this path of wealth-creation through properties. If you haven't spoken to your accountant for a little while, I suggest you get on the telephone and you speak to them.”

Tune in to Phil Tarrant and Munzurul Khan’s episode on The Smart Property Investment Show to know how to measure the success of your portfolio, the best ways to reach your retirement goal, and the many stages of successful property investment.

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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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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)#1184 (52) {
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  ["title"]=>
  string(38) "From pirouettes to property investment"
  ["alias"]=>
  string(38) "from-pirouettes-to-property-investment"
  ["introtext"]=>
  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.

" ["fulltext"]=> string(2718) "

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
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AREAS MENTIONED:

Melbourne
Sydney
Rushcutters Bay
Maroubra
Potts Point

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From pirouettes to property investment

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