06 Mar It’s For the Kids – Investment Properties in 2017
From the minute you find out you’re going to be a parent, the children are at the centre of every decision you make, and investment decisions are no exception.
Over the past few years there has been a trend in family financial planning to include an investment property in the mix of assets. The idea is to purchase a property and rent it out while the kids are growing up. In so doing the family is growing a tangible asset and hopefully enjoying positive cash flow. The end goal is to be able to pass along a property that has substantially increased in value.
With the rising costs of property in high traffic urban areas, being able to offer a paid off, or even partially paid off, property to your kids is nothing short of phenomenal. Well done parents!
Getting from thinking about buying an investment property to actually buying it, and setting it up with a tenant, does however require some work. A few questions that will need to be considered are: Which neighbourhood and type of property is right for you? What cash flow ratio is right for your current needs? How do you find qualified tenants? Do you hire property management, or manage the property on your own?
These are all questions that can be dealt with through the expertise and experience of the Shirriff Wells team. We are here to help. Taking this step shouldn’t be scary, it should be exciting!
Let’s get started.