Have you tackled a few renovations, perhaps built your own home and/or invested in the odd property? If you're passionate about property and are ready to springboard yourself into your next project, perhaps it is time to seize the opportunity and explore becoming a passive property developer?
Many people shy away from the next level, however there are a number of ways you can be involved in a development, learn the ropes but minimise the risk (speak to us if you would like more information). To whet your appetite, today we thought we would share with you the top 3 the benefits of becoming a passive property developer.
1. Healthy profits and the ability to buy property at wholesale prices
Capitalize on buying property under-market, without the fat built-in for developers, real estate agents and/or project marketer's commissions. Particularly during the current market, you can make a healthy return in 12-24 months if you're building a townhouse, or 18-36 months if you're undertaking a larger apartment project (assuming you need to apply for a permit - if a permit is secured the timeframes can be expedited). At the end of the project, you can decide to either sell for a profit or hold, to benefit from the rental return (it is one of the very few ways you can source positively geared properties in Australia's capital cities!).
2. Build your own legacy and help Melbourne's growing population
The Australian Bureau of Statistics (ABS) has observed Melbourne being the fastest growing Australian capital for the last 11 years, and it is anticipated that by 2050, Melbourne's population will have reached between 5.6 and 6.4 million. To compensate for this growth, it means that property developers will not go out of business anytime in the near future!
Once you have one development under your hat, you can use this as leverage and continue building on your portfolio. Extending your legacy throughout your city and creating a great nest egg for you and your family.
3. Set yourself up for success - with tax & finance benefits!
A big benefit of property development is the tax benefits, holding onto the property and depreciating its value over time, will certainly help your end of financial year tax bill (particularly if you're still working in full-time employment). Furthermore, for those who have been in the game for a while, they will benefit from high loan to value ratios and an ability to access a wider range of finance options and loans (which is advantageous given that the banks are currently tightening their belts and approval rates).
We hope these top 3 tips give you insight into the benefits of becoming a passive property developer. However be beware, like all things with great benefits there are always associated risks, so ฝากขายอาคารพาณิชย์ be sure to set yourself up with the right knowledge, network and team before you take the plunge.
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