An alternative to a pension for retirement income is to invest in property. The main reason many are investing in the real estate market is to provide financial independence for retirement. Some are hoping their investments in rental properties will enable them to quit their day job and live off their rental income. Is this achievable well it is certainly possible with a strategy and a plan for investing.
One thing you will certainly need to succeed is to have a property coach on your side. Many of us believe that we can do this on our own but the truth is that most property investors do not own more than two houses. To successfully retire on property rental income than you will need the income from many rental properties. How many well that depends on your strategy? To fast track your opportunity to succeed than having a property coach on your side makes sense.
One such expert is Paul Flynn. Paul has learnt his trade from being a property investor himself at a young age and going on from strength to strength. Paul now typically owns over 30 rental houses and employees a variety of strategies of making money out of real estate. How to make money with Property Investment in any market? Paul has gone on and built a business out of Real Estate. Paul has created the Paul Flynn Property Group, Queensland’s Largest Established Home Company.
There is more than one way to make money out of Real Estate. Paul’s company has business activities including Property Development, Property Trading, Property Investment, Property Marketing, Property Financing, Property Management, Property Maintenance, Portfolio Management, Buyers Agent, Share Investment and Share Trading. Paul is also owner and operator of Mortgagee and Repossessions Pty Ltd which specialize in Mortgagee Sales & Acquisitions, Receiver Sales & Acquisitions, Deceased Estate, Distressed Sales and Private Negotiations. Paul has also been featured on A Current Affair.
Owning rental properties is not for the faint hearted. There will be issues that have to be dealt with and hassles to overcome being a landlord. Knowing what type of property to buy and in the right locations are part of the keys to being a successful investment property owner. Paul believes that some investors underestimate the amount of money that needs to be set aside for property maintenance. Maintenance issues need to be attended to as they come up. Keeping the tenant happy is part of the key to having success in owning investment properties.
Is property a good investment? How long do you have before you retire? Property over time increases in value mainly due to the land content. AMP Capital’s chief economist, Shane Oliver, in an interview on the 7 year property cycle, says that back when inflation and growth in wages was higher in the 1980's, property prices averaged growth of around 11.5% pa, which meant they would double in value roughly every 6.3 years. As we are now in a world of lower inflation and wages growth, property price growth over the last decade has slowed down to an average of just 6% pa, which means property prices are doubling in value roughly every 12 years.
Which property sector is right for you? After over 30 years investing Real Estate Paul now believes that the property sector that always performs no matter what economic cycle is low end residential property. Listen to the interview with Paul and find out how Paul makes money in the housing market. http://bit.ly/29d9RPL Paul Flynn runs Property Seminars at Brisbane, Gold Coast and Sydney, Australia.
Ann Nelson at Retire Well, Retire Happy talks to a variety of people to find out what makes for a successful retirement. Visit www.annnelson.com.au.