Kevin and Jane’s Story
Kevin and Jane up-sized from a unit to buy their dream family home in a coveted suburb in Sydney.
Shortly after moving in they realized that, as it was situated below a cliff, it was always in shadow and during the winter it was extremely cold. Jane was at home most of the time with toddler and baby, hence their electricity bills were through the roof. They put up with this for a couple of winters as they didn’t want to go to the expense of selling and then buying a new home.
In the meantime Kevin had got a promotion at work which put him into a higher tax bracket
– which actually mean’t his take home pay was less, and they were already struggling to pay the larger mortgage.
So I suggested to them “Rentvesting”
They knew that they could get $800/wk in rent for this house.
So they moved into a lovely sunny house in a nearby suburb, paying $600/wk in rent.
This gave them an extra $200/wk to go towards their mortgage plus much cheaper electricity bills.
The added advantage is that their original home is now an investment property so they can claim depreciation and expenses against their tax.
They also keep their prestige house and will reap the benefit of Capital Gain in the long term.
What’s all this information worth to you?
If you are like a lot of other people struggling to pay the mortgage and believe you can’t afford an investment property or don’t know how to get started phone Positive Properties now on 0405 100 146 to find out more about our variety of buy and hold strategies
or contact us at www.positiveproperties.biz/contact/