Not solely are the emptiness charges throughout the nation at their lowest, an growing variety of tenants are discovering it subsequent to unimaginable to discover a property to lease.
However George Markoski, who has constructed a multi-million greenback property portfolio and can be the founding father of Property Optimistic, mentioned it’s time for renters to “cease moaning and begin proudly owning”.
“I really feel for renters, it’s actually onerous. However they should begin changing into property homeowners,” Mr Markoski mentioned.
“Dwelling possession throughout Australia is low as a result of everybody desires issues on a platter. Folks complain that it’s too onerous to purchase property and that properties are too costly. That couldn’t be farther from the reality.
“Properties are actually low cost as a result of it’s not the worth of property that issues however what it prices out of your pocket each week. In the event you have a look at weekly bills, it’s fairly much like what it was within the ‘80s.”
Currently, property traders, mentioned Mr Markoski, have obtained quite a lot of criticism and are being blamed for the present rental disaster.
“It’s unfair in charge traders who’re getting hit from each facet. We want extra properties to lease. With APRA tightening rules a couple of years in the past, it made it very onerous for traders to take a position. They have been additionally penalised and charged more cash for a mortgage as in comparison with an owner-occupier.
“The pandemic has solely exacerbated the rental disaster as when Covid hit Australians got here again to their properties. With Air BnB coming in, there have been even much less long-term leases on provide available in the market. The state of affairs is barely going to worsen.”
For somebody who owns 40 properties across the nation, Mr Markoski mentioned the answer to the disaster is in “rentvesting”.
“Step one is to get the precise mindset. Most individuals don’t realise they are often property homeowners or traders. You’ll be able to solely obtain what you imagine,” Mr Markoski mentioned.
“The second step is to save cash, minimize down on bills and put aside 10 to twenty per cent to construct a deposit. After getting that, it is advisable to get educated. You want to make investments the precise manner so that you just don’t lose cash.
“Whenever you purchase a home to dwell in, you pay for all the pieces your self, you don’t get any tax deduction. However while you get an funding property, you’ve got the tenant serving to you, the tax man serving to you and it’s so much simpler to personal.
“Normally, if you happen to purchase as an owner-occupier, it is going to value you $600-$700 per week. In the event you get an funding property as an alternative, you may be making $50 per week.”
The property investor can be engaged on his subsequent e book with Robert Kiyosaki, creator of the bestseller Wealthy Dad, Poor Dad who owns greater than 8,000 properties.
Initially printed as ‘Cease moaning and begin proudly owning’ is property millionaire’s recommendation to renters