I am talking from my experiences i had five properties and a farm . 2008 everything got wiped out. So i know what i am talking. They should get rid of negative gearing. People should have one house one car and be debt free. Go back to olden days. Too much debt. Its not healthy. BE CONTENT BE HAPPY. YOU CANNOT TAKE ANYTHING WITH YOU WHEN YOU GO. WHAT I KNOW KNOW THAT WHAT I WOULD TEACH PEPOLE. PEOPLE ARE PAYING 80% OF THERE INCOME FOR MORTGAGE ITS THAT WITH IT. GOD NO. ❤😢❤😢
@Ravi, the broad suggestion of your video is to get an investment property, the reasons for which are clear. However, what are your thoughts on - in the first instance - to take advantage of first home buyer perks on your first property, and then (after one year of PPR), moving back into rented and renting out that property? Is there any financial merit in doing that, or is it fundamentally better just to jump straight into an investment property?
And this is exactly why they need to remove investor incentives. Allow “homes” to become “shelter” for families again, not “investment items”. End the rental crisis and the excess of potential home owners forced into the rental market due to catapulting property prices. These high prices driven by an excess of greedy high income earners with portfolios of properties enjoying huge tax benefits, and competing with families looking to buy homes without the financial benefits! We need a correction in property prices. Renters can again become home owners. And with the correct tax garnered from excessive income earners, a whopping $2B, the government can spend on fixing the housing shortage, particularly public housing. Homebuyers shouldn’t need to compete with someone buying their third and forth properties, and reaping all the tax benefits and savings homeowners don’t enjoy. Investors go back to investing in the sharemarket and let Australians access affordable homes again.
The problem is that if you are a normal person, when you get to retirement age and if you don’t own your own place outright you will most likely struggle :(
Rent is also not tax deductible. I bought a place in the area I’ve been renting and my mortgage repayments are less than rent I was paying before and I regret not doing it earlier
Rent gets counted as a taxable income subject to the current income tax bracket you're in. This should be offset by the loan interest being tax deductible. You should also get deduction from depreciation, rates, etc. If you lose more money than you made, you can get a tax return because it will reduce your taxable income.
@@lumpadumpa123 Oh. That's true. If you buy an investment property, you need to live somewhere. Mum and dad are never happy when you're "releasing the main vein" in their bathroom.
@ravi, buying an investment property on a lower budget as a 1st purchase and continuing reinvesting, how will we be able to our own place 10 years later as the prices go up as we currently still can get an apartment under 600k in Western Sydney? I lean towards investing as I watch your videos.
Im buying a property to live in with a granny flat attached to rent out so i can get the best of both worlds until I can then get an investment property too
Can you not get the best of both worlds by living in your investment property? For example, buy a 3+ bedroom house to live in one room and rent the other rooms? Are there any negatives that I should be aware of with this approach?
With how prices are going, my question is “can I afford to buy groceries AND get a haircut?” 😅
A decent haircut costs $45 in melb western suburb
@@neww0lf611gold coast Barber some charge $60 now pathetic
I am talking from my experiences i had five properties and a farm . 2008 everything got wiped out. So i know what i am talking. They should get rid of negative gearing. People should have one house one car and be debt free. Go back to olden days. Too much debt. Its not healthy. BE CONTENT BE HAPPY.
YOU CANNOT TAKE ANYTHING WITH YOU WHEN YOU GO. WHAT I KNOW KNOW
THAT WHAT I WOULD TEACH PEPOLE. PEOPLE ARE PAYING 80% OF THERE INCOME FOR MORTGAGE ITS THAT WITH IT. GOD NO. ❤😢❤😢
I say this everyday so true everyone is brain washed to try be rich
@Ravi, the broad suggestion of your video is to get an investment property, the reasons for which are clear. However, what are your thoughts on - in the first instance - to take advantage of first home buyer perks on your first property, and then (after one year of PPR), moving back into rented and renting out that property? Is there any financial merit in doing that, or is it fundamentally better just to jump straight into an investment property?
And this is exactly why they need to remove investor incentives. Allow “homes” to become “shelter” for families again, not “investment items”. End the rental crisis and the excess of potential home owners forced into the rental market due to catapulting property prices. These high prices driven by an excess of greedy high income earners with portfolios of properties enjoying huge tax benefits, and competing with families looking to buy homes without the financial benefits! We need a correction in property prices. Renters can again become home owners. And with the correct tax garnered from excessive income earners, a whopping $2B, the government can spend on fixing the housing shortage, particularly public housing. Homebuyers shouldn’t need to compete with someone buying their third and forth properties, and reaping all the tax benefits and savings homeowners don’t enjoy. Investors go back to investing in the sharemarket and let Australians access affordable homes again.
The problem is that if you are a normal person, when you get to retirement age and if you don’t own your own place outright you will most likely struggle :(
💯
Some people that are asset rich are cash poor and even retire with debt owing on their property.
Rent is also not tax deductible. I bought a place in the area I’ve been renting and my mortgage repayments are less than rent I was paying before and I regret not doing it earlier
Completely avoids covering this point
Rent gets counted as a taxable income subject to the current income tax bracket you're in. This should be offset by the loan interest being tax deductible.
You should also get deduction from depreciation, rates, etc. If you lose more money than you made, you can get a tax return because it will reduce your taxable income.
@@Hunty49 I’m talking about your own rent where you live while rentvesting
@@lumpadumpa123 Oh. That's true. If you buy an investment property, you need to live somewhere. Mum and dad are never happy when you're "releasing the main vein" in their bathroom.
@@Hunty49 💯
@ravi, buying an investment property on a lower budget as a 1st purchase and continuing reinvesting, how will we be able to our own place 10 years later as the prices go up as we currently still can get an apartment under 600k in Western Sydney? I lean towards investing as I watch your videos.
Im buying a property to live in with a granny flat attached to rent out so i can get the best of both worlds until I can then get an investment property too
Go for it.
Not a single soul knows where we will be at in twenty years.
What type of experience and skills would someone need to work for your agency?
Having a good broker is good too
Great insights and advice
Can you not get the best of both worlds by living in your investment property? For example, buy a 3+ bedroom house to live in one room and rent the other rooms? Are there any negatives that I should be aware of with this approach?
the main thing to be aware would be sharing the place and their habits and personality, I would suggest it
What if you own the house outright? How much of a positive effect would that carry over to your borrowing capacity?
lots
Hey Ravi how would share market crash impact property market ??
you said it! "Crash"
Thanks Ravi, That was really informative and more importantly helpful. Appreciate your efforts.
he wants your business, or you thing he doesnt have any interest by doing this vlogs?
Defs more crime and arabs out west