The average gross yield for well-located properties in Australia is a lot more than your savings are earning in the bank. If, like David, and Elizabeth, you are looking to boost your retirement earnings through property, chat now to Vizion Group and get your roadmap to property success.
Why Work With Vizion Group Qld
David and Elizabeth’s Story
Home owners David and Elizabeth were approaching retirement and the thought of living on a pension wasn’t appealing. Not wanting to take risks, they explored their investment options.
With their children now adults and living away from home, David and Elizabeth’s finances were gearing up for retirement. At 55 and 57, the couple were not willing to take chances on the high risk, high reward world of stocks or shares, something they had previously dabbled with in their 40s. They were also dubious about trusting real estate agents, especially those who hadn’t been in the business for too long. Ultimately, they were looking for a safe and secure way to build their assets and savings so that they could enjoy them throughout their retirement.
David and Elizabeth’s home had a significant chunk of equity in it and on a single but high yearly salary, they were looking to make their money work for them. With their savings in the bank earning them a minimal amount they knew that a property investment would be a better route. David therefore asked himself the questions; Should I invest my equity into further properties? Is it too late for me to build a property portfolio? Elizabeth asked Is it safe at our age to invest more money into property? As people who had always had a fairly low risk tolerance, it seems like a risky idea. Their equity was safely parked in their home, there was no mortgage and they would be able to retire debt free.
David understood that investing in property, especially in a low cost, high rent area was not like investing in new furniture, a family vacation or any depreciating asset. Property appreciates and property purchased in a high demand area can be reliably rented out. He’d be creating wealth by simply utilising some of the equity in his home. Of course, David didn’t want to use all the equity in his home and made sure he kept a buffer which would allow for rainy days along the way. Purchasing three duplex properties in the North Brisbane/ Sunshine Coast area allowed David to see an immediate income through rentals. He also felt confident that the properties would increase in value and he could then pass them onto his children later if he chose to. From Elizabeth’s point of view, the properties were appreciating assets which could always be sold at any time should they need to.