Businessman,In,Big,City

Unlocking Wealth: The Resilience of Real Estate as a Prime Investment Asset

Within the constantly shifting field of investment prospects, real estate stands out as a reliable and profitable asset class, captivating investors with its promise of stability, long-term growth, and diversification. The everlasting allure of real estate as a means of investing lies in its special capacity to provide a variety of financial advantages and serve as a cornerstone for building wealth. Here are compelling reasons why real estate stands out as a prime asset for investors:

1. Tangible and Intrinsic Value

Real estate represents a tangible and physical asset with intrinsic value. Unlike certain financial instruments, real estate comprises land and structures, providing investors with a concrete and visible form of wealth. The stability of a physical asset contributes to a sense of security and permanence.

2. Long-Term Appreciation 

One of the fundamental advantages of real estate is its possibility of long-term growth. Over time, properties tend to increase in value, influenced by factors such as location, development in the surrounding area, and overall market trends. Investors can benefit from capital gains as the value of their real estate holdings appreciates.

3. Steady Income Generation

Purchasing rental homes can provide a steady income source through rental payments. Residential or commercial real estate leased to tenants provides investors with regular cash flow, enhancing the overall return on investment. This income can serve as a stable financial foundation and contribute to portfolio diversification.

4. Portfolio Diversification 

Real estate serves as a valuable component for diversifying investment portfolios. As a risk management technique, diversification entails distributing investments among several asset classes to lessen exposure to fluctuations in a single market. Including real estate in a diversified portfolio helps mitigate risk and enhances overall stability.

5. Hedge Against Inflation

Real estate has historically proven to be a hedge against inflation. As the cost of living rises, so does the value of real estate. Property values and rental revenue typically rise in tandem with inflation, providing investors with a natural buffer against the erosive effects of rising prices.

6. Flexibility and Control 

Real estate investing offers investors a certain level of flexibility and control. Property owners have the autonomy to make decisions regarding property management, renovations, and enhancements that can positively impact the property’s value. This level of control can be empowering for investors seeking hands-on involvement in their assets.

7. Tax Advantages

Real estate investments offer various tax benefits that contribute to their appeal. Mortgage interest deductions, property tax deductions, and depreciation allowances are among the tax advantages available to property owners. These incentives can optimize the overall return on investment and enhance the profitability of real estate holdings.

8. Stable Cash Flow in Rental Markets

Investors engaging in rental markets benefit from stable and recurring cash flow. Monthly rental income provides a consistent source of funds, making real estate a reliable investment option for those seeking regular returns. Well-managed rental properties can offer dependable income even during economic fluctuations.

In conclusion, real estate stands out as a time-tested and resilient asset for investors seeking a blend of stability, income, and long-term growth. Its intrinsic value, potential for appreciation, income-generating capabilities, and role in portfolio diversification position real estate as a cornerstone in the pursuit of financial success and wealth creation. As investors navigate the diverse landscape of investment opportunities, the enduring allure of real estate remains a beacon for those looking to build and preserve wealth.

Businessman,In,Big,City

5 Ways To Build Wealth When You Don’t Come from Money

Wealth building is a process of creating financial stability and independence through strategic planning and sound financial management. It involves setting financial goals, creating a budget, and making smart investments. While wealth building can seem daunting, anyone can achieve financial freedom and security with the right mindset and approach.

Set your financial goal

One of the most vital phases in creating financial momentum is laying out monetary objectives. These objectives should be quantifiable, reachable, pertinent, and time-bound. For example, a financial goal could be to save $10,000 in a year, pay off all credit card debt in six months, or accumulate $1 million in net worth by age 50. Whatever the goal, it should be clear and motivating enough to keep one on track.

Establish a budget

Once financial goals are established, the next step is creating a budget. A budget is a detailed plan that outlines all sources of income and expenses. It helps identify areas where costs can be cut, directing more money toward saving and investing. A budget should be realistic, flexible, and reviewed periodically to make adjustments as needed.

Save money

One of the essential aspects of wealth building is saving money. Saving involves living below one’s means, avoiding unnecessary expenses, and directing surplus income toward investments. A savings account or money market fund is an excellent place to start for those just beginning to save. These accounts offer a relatively low return on investment but are safe and accessible.

Invest your money

Investing is another critical aspect of wealth building. Investing involves using money to buy assets that have the potential to appreciate in value over time. The most common investment vehicles include stocks, bonds, mutual funds, real estate, and commodities. Investing in a diversified portfolio can mitigate risk and maximize returns.

Manage your debt

Another critical component of wealth building is debt management. High-interest debt, such as credit card or payday loans, can quickly erode wealth-building efforts. Debt management involves prioritizing debt repayment, negotiating lower interest rates, and avoiding unnecessary debt in the future.

Finally, building wealth requires a long-term perspective. Wealth building is not a get-rich-quick scheme but rather a slow and steady process. It requires patience, persistence, and discipline. The key is to stay focused on the end goal and make consistent progress towards it.

In conclusion, wealth building is a process that requires goal-setting, budgeting, saving, investing, debt management, and a long-term perspective. While it may seem overwhelming, anyone can achieve financial stability and independence with the right mindset and approach. By taking control of one’s finances and making intelligent decisions, anyone can build wealth and achieve financial freedom.

Businessman,In,Big,City

5 Super Strategies To Help Boost Your Retirement Nest Egg

With the quieter summer holiday upon us now might be a good time to make some super simple changes that could make a lifetime of difference in retirement.

Many Australians are concerned that they won’t have enough money in their super accounts to fund their retirement.

But there are five easy steps workers can take now to boost their savings:

First, check with your fund to make sure you are getting paid all your legal super entitlements. Unpaid superannuation impacts 3 million workers a year – costing them a total of $5 billion and while most bosses do the right thing there are still some employers out there who deliberately rip workers off. And with the super guarantee rate rising to 12% it is more important to check that the full amount is being paid.

Second, consolidate your super funds into one account, finding lost or unpaid super is simple now using the Australian Tax Office tools.

Third, compare your existing super fund with others in the market to make sure it is meeting your needs. New government ‘stapling’ laws mean that workers are likely to stick with funds for longer. Alarmingly only 7% of people switched after they were told their fund failed a government performance test. Being stapled to one of those dud funds can cost a worker $230,000 at retirement.

Fourth, make sure the type of fund and level of insurance is right for you. Make sure the investment strategy matches your needs and appetite for risk – which your fund can help you with. Also be sure to check the insurance coverage is the right fit for you and your family.

Fifth, if you find some loose change or get some type of windfall consider putting it in your super fund. It is a tax-effective way to make savings and with the power of compounding interest a little invested in super now, makes a big difference in retirement. A 30-year-old on average wages that salary sacrifices $20 a week into super has $67,000 more at retirement and gets a tax saving now.

Further tips on boosting your retirement nest egg can be found on Industry Super Australia’s website

Comments attributable to Industry Super Australia chief executive Bernie Dean:

“There are five easy tips to getting your super right and most can be done from the comfort of your deck chair, beach towel or at home.”

“Check you are being properly paid super, consolidate accounts, compare funds, select the right investment mix and make small extra contributions if you can.”

“With the Super Guarantee set to rise to 12 percent it is even more important to make sure you are getting paid your full legal entitlement and that the fund is working for you.” 

This article was sourced from a media release sent by Medianet

Photo by Andrea Piacquadio from Pexels

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5 Surefire Ways To Keep Your Investment Property In Great Shape For Years To Come

If you are the proud owner of an investment property, chances are you have worked hard for it.

As a landlord (or landlady), understanding how to protect yourself from common financial pitfalls is one of the key tools to invest with confidence, according to landlord insurance provider, Terri Scheer Insurance.

Terri Scheer Insurance executive manager CAROLYN PERELLA explains five common mistakes and how you can avoid them:

1. Setting the rent too low or too high

Before purchasing an investment property, carry out extensive research to help you determine an appropriate rental price.

Setting the rent too high may result in limited interest from prospective tenants, leaving you out of pocket if the property remains empty for an extended period of time.

However, setting the rent too low may place you under financial pressure, limit your rental income and has the potential to attract unsuitable tenants.

Look on real estate websites and through newspaper classifieds to find listings with similar features to your property, as this will give you a guide on the rental market in that area.

2. Failing to monitor arrears

If a tenant falls behind in their rent, it can be a very long and costly process to resolve and could leave you considerably out of pocket.

Diarise the dates that your tenant’s rental payments are due and check your bank account on those days.

If they fall into arrears a breach notice should be sent for non-payment of rent.

The number of days in rental arrears before a termination notice can be sent, and the time between presenting the notice and requesting vacation varies around Australia, so it is important to be familiar with your local tenancy laws.

3. Attempting to self-manage a property

Self-managing a rental property can create headaches for landlords, especially if they do not have enough time or resources to commit to such a task.

While it can be tempting to save a small percentage of rental income by self-managing your rental property, the benefits of appointing a property manager can far outweigh the costs.

Property managers are able to conduct regular property inspections to identify maintenance issues, have systems in place to find and screen prospective tenants, and have access to databases that list tenants with a history of defaulting on rental payments, damaging property and eviction.

If a dispute arises with a tenant, they are also familiar with the relevant legislation and can follow the correct procedures to help resolve the problem as quickly as possible.

4. Neglecting maintenance

As a landlord, once you have been alerted to maintenance issues, it is your responsibility to act on these or authorise your property manager to do so as soon as possible.

If a maintenance issue arises and you are slow to fix it, you may be legally liable if your tenant injures themselves. It is also important to ensure that all maintenance is completed properly and to appropriate standards.

5. Inadequate insurance

Specialised landlord insurance cover can protect investors from many of the risks associated with owning a rental property, provide peace of mind and ease a landlord’s concerns about receiving regular rental payments if your tenant damages the property or absconds.

Landlord insurance can cover property owners for malicious damage by tenants, accidental damage, legal liability for occurrences on the property that cause death or bodily injury, and loss of rental income as a result of property damage or a tenant absconding.

Source: The Australian Filipina

Businessman,In,Big,City

Reese Witherspoon Just Became The World’s Richest Actress

Actress Reese Witherspoon has just sold her five-year-old media company Hello Sunshine for $900 million and according to the Wall Street Journal, the buyer is a media company backed by the private equity firm – Blackstone Group Inc.  This makes the Reese the richest actress in the world according to Forbes.

Witherspoon in a statement as per Complex, “today marks a tremendous moment for Hello Sunshine.” She further said, “I started this company to change the way all women are seen in media. Over the past few years, we have watched our mission thrive through books, TV, film, and social platforms. Today, we’re taking a huge step forward by partnering with Blackstone, which will enable us to tell even more entertaining, impactful, and illuminating stories about women’s lives globally.”

Hello Sunshine centers on stories by and for women. The company has produced films such as Gone Girl and Wild and TV shows including HBO’s Big Little Lies, Apple’s The Morning Show, and Hulu’s Little Fires Everywhere. “I’m going to double down on that mission to hire more female creators from all walks of life and showcase their experiences,” Witherspoon said in a statement as per Vanity Fair. “This is a meaningful move in the world because it really means that women’s stories matter.”

The yet-to-be-named media venture Blackstone will be run by former Walt Disney Co. executives Kevin Mayer and Tom Staggs. They said in a statement as per Complex, “We are thrilled to partner with Reese, Sarah, and the entire Hello Sunshine team.” They also said, “Hello Sunshine is a perfect fit for our vision of a new, next-generation entertainment, technology, and commerce company. We seek to empower creators with innovation, capital, and scale to inspire, entertain, and delight global audiences with engaging content, experiences, and products. Our platform will foster a uniquely creator-friendly culture that gives elite talent the resources they need to create and capitalize on their best, most inventive work. We look forward to backing Reese, Sarah, and their world-class team as they continue to produce and identify dynamic, engaging content for years to come.”

Editorial credit: Ga Fullner / Shutterstock.com

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R&B Singer Rihanna Is Officially A Billionaire Thanks To Fenty Beauty line

It’s official: Rihanna has finally entered the billionaire’s club making her the richest female musician in the world.

According to Forbes, Rihanna is now worth a whopping $1.7 billion. But her massive fortune is not just coming from her music, the big chunk of her wealth actually comes from the value of Fenty Beauty (worth approximately $1.4 billion), in her lingerie company, Savage x Fenty (worth approximately $270 million) and of course, her earnings from her career in music and acting.

Fenty Beauty was launched in 2017 and this is a 50-50 joint venture between Rihanna and French luxury goods conglomerate LVMH (run by Bernard Arnault, the world’s second-richest person). Forbes attributes Fenty Beauty’s success in its products which come in a diverse range of colours—the foundation which is offered in 50 shades, and this includes harder-to-find darker shades for women of colour.

Furthermore, Fenty Beauty isn’t Rihanna’s only billion-dollar baby. Forbes confirmed that in February, her lingerie line Savage x Fenty raised $115 million in funding at a massive $1 billion valuation. Savage x Fenty was launched in 2018 as a joint venture with TechStyle Fashion Group, this venture includes high-profile investors such as Jay-Z’s Marcy Venture Partners and private equity firm L.

With all these successful ventures under her belt, it’s understandable that she hasn’t released any new music as her last album, Anti, came out back in 2016. A massive congratulations to Rihanna and more power to her!

Editorial credit: Debby Wong / Shutterstock.com

Businessman,In,Big,City

4 Surefire Ways To Become A Millionaire By Age 30

In this free-market economy, all of us have the ability to create the amount of money that we want. Our daily salary should not limit us on the amount of money we can make – this notion can also be applied to people around the age of 20s. To help you reach the millionaire status before you get the age of 30, here are 4 simple pieces of advice from the experts who became millionaires before turning 30.

Focus on Your Current Earning

The economic uncertainty of today prevents anyone from saving to earn the millionaire status. The first step towards achieving this status is to focus first on increasing your current income and then repeating that process. Grant Cardone who achieved the status before the age of 30 started at $3,000/month, and after 9 years, he is already making $20,000/month.

Develop Various Sources of Income

Another way on how you can earn more is to boost the streams of your income. In one study by Thomas Corley, he found out that most of the self-made millionaire was able to develop multiple sources, of income; around 65% of them have at least 3 sources and 29% has 5 or more streams. The additional streams of income may come from part-ownership of the business, stock market, and rental properties.

Avoid Showing Off

Just because you managed to create tens of thousands of bucks, doesn’t mean you should waste your money buying luxury items. You should focus more on your ethics in your work and not about splashing out on luxurious things. In case you want to use it as your inspiration and motivation to be a millionaire, there are heaps of ways on how to stay motivated without spending your money. As an example, you should first wait for your business to have multiple cash flows before buying a luxury watch.

Save Then Invest

One of the main reasons why you are saving money should only be so that you can invest it and make your money work for you. The money that you saved should be kept secured into an account. You should never use this, not even for an emergency situation. If you’re young and not too concerned with buying a house just yet, you might want to invest in property. Investing in a property while you are still young can be a good way to build a solid financial foundation for the near future. Several first-time buyers these days choose to invest in a property rather than to live in it because when you apply for a loan as an investment, banks, and lenders will most likely increase your borrowing capacity since they will factor in the income you can potentially generate from rent, which is on top of your regular income. Another great way to invest your money wisely is by buying shares. For most people, buying shares is not about getting rich quickly, rather, it is about a long-term goal of choosing to buy shares of companies that look likely to do well over the long term and whose shares should, potentially, increase in value over time. That said, you need to do plenty of research before you start investing your money in either property or shares.

Businessman,In,Big,City

5 Mistakes To Avoid If You Want To Be A Millionaire

Becoming a millionaire seems like the perfect dream for most people. In order to make this dream come true, though, it takes a lot of determination and hard work. Although many of the people dreaming of becoming millionaires will end up settling for less, this does not have to be the case with you. If you are driven by the thirst to succeed, you need to build on solid ground and start making life changes.

However, there are a lot of misinterpretations that can get you off the right course towards success. Some things just are not necessary and in fact, can be proven extremely damaging to your goals. How to be rich does not depend on any of the following misconceptions. Read the following points below carefully and find out what you do not need to do:

• Work on conventional niches

This is a safe way towards failure. In other words, you do not want to engage in niches that have been regarded as a traditional money-making business. You cannot expect to get rich any time soon by practicing law or medicine or architecture. These professions require a lot of time, and you slowly build your income, up to a point.

• Assume that just by studying hard will bring in the cash

There is no guarantee that your studies will pay off in the future when it comes to your professional career and money boost. On the contrary, most of the times you will be expected to choose a different professional path, which has nothing to do with what you have studied.

• Depend on luck

Luck is definitely not the main factor that determines if you get rich or not. You should focus on taking advantage of any opportunity coming your way, rather than wait for luck to knock on your door.

• Indulge in scams

Nothing good has ever come long term from scams. Even if you are lured by short-term winnings, you will most likely learn the hard way that such money does not last. So it is not worth risking your career for something with dubious results.

• Maintain a rich social life

Unfortunately, when you set your mind on how to be a millionaire, there is no time to waste. This means that you must be considerate and schedule all your social plans according to your optimal benefits professionally.

Of course, these are just a few of the things you ought to avoid on your path to success. You need to set realistic goals and do not let go till you reach them.

Businessman,In,Big,City

How You Can Ensure Your Investment Property Stays Tenanted

Growing wealth is the ultimate long-term goal of most property investors. But in the short-term, it’s often the property’s ability to deliver a consistent, reliable income – in the form of rent – that matters far more to your day-to-day finances.

So how do you make sure your investment property remains tenanted and keeps producing income, especially at times when vacancy rates are high, properties are plentiful and renters are spoiled for choice? Let’s explore.

Why a reliable income matters so much for investment properties

Before we share specific strategies for making sure your property continues to produce income, it’s probably worth reflecting on why it is such a vital part of property investing.

The simple fact is that most early-stage property investors rely on leverage. In other words, they need to borrow money to fund their purchase – usually in the form of a mortgage or home loan. And so every week, fortnight or month, that home loan needs to be paid.

One of the great advantages of property investing is that a lot – and sometimes all – of the cost of this mortgage can be funded by the rent you receive. But if rent isn’t coming in, there can be a financial hole you need to fill.

So if you want to avoid that from happening to you, here are our 6 tips:

1. Buy a new property

In a market where renters have a lot of real estate stock to choose from, it’s often newer properties that hold the competitive advantage. That’s because they usually come with many of the features tenants’ prizes, such as open plan living, modern appliances, and tasteful fixtures and fittings. They’re also often positioned close to transport and large-scale amenities and tend to be more suited to a contemporary lifestyle, with landscaped courtyards or roof gardens, security, parking, lifts, and valued on-site amenity that may extend to gyms, swimming pools, childcare, and concierge services, plus many other features you won’t usually find in older style properties.

For this reason, new properties are also often easier to rent out, helping minimise the length of any vacancies, so that your income continues to flow.

2. Keep your property well-presented and up-to-date

Many buyers can overlook cosmetic problems in a property, confident in the knowledge they can change things they don’t like. A kitchen or bathroom can be renovated, the walls can be painted in a different colour and new carpet can be laid. Renters don’t have this luxury – they’re usually stuck with the property in its current form.

This means renters tend to approach a property search in a different way to buyers: they’re paying their money for the here and now, not the long-term. So if your property needs work or is simply out-of-date, you’ll find it harder to rent out.

Plus the old adage is true – ‘prevention is better than a cure’ – investing in preventive, regular maintenance of your property will help prevent serious problems before they occur. Maintenance is less costly than repairs.

3. Sign a longer lease

A longer lease – ie one for more than 12 months – can help reduce the amount of time a property is vacant and help guarantee income because the tenant can’t usually break it without having to pay a penalty.

Long leases can be a good strategy during a flat market when market vacancy periods for an area are high, or if you value the security of a longer-term, quality tenant. But in a strong market, long leases may leave you with less room to move, particularly in relation to rental growth.

You should always weigh up the pros and cons and assess the current market before taking this approach. Talk to your Property Manager about the best strategy for your property.

4. Use a proactive property manager

Good property managers do far more than simply collect the rent on your behalf. They act as a Property Management adviser, letting you know how much rent you should charge and when (and when not) to increase it. They’ll also help make sure your property is marketed correctly so that you attract the right tenants and host regular inspection to fill any vacancy as quickly as they can.

Then after securing tenants, a property manager can also manage the relationship once they’re in, answering their questions and requests and doing their best to ensure they’re happy and that you retain them for the long term.

5. Consider furnishing your apartment

The reality of today’s property market is that many good tenants come from interstate or overseas and one way to make sure your property stands out to these renters could be to furnish it. After all, furnished properties offer tenants the chance to move straight in, without having to worry about the expense of buying so many household goods. On top of this, they can also offer command a higher rental rate from tenants.

Just one word of warning though – because furnished apartments tend to appeal to renters from elsewhere, they can also experience higher turnover when a tenant returns home or moves on. On the other hand, they’re frequently easier to rent out when vacant.

6. Get a rental guarantee

One way to make completely sure your investment property continues to produce income is to purchase one with guaranteed rent. For instance, the PIA Fixed Weekly Rental Guarantee ensures you receive a set income for three years, regardless of whether your property is rented or not. This, in turn, means you have predictable cash flow for a set period and can plan your finances accordingly.

PIA’s Fixed Weekly Rental Guarantee comes standard with any off-the-plan purchase you make through PIA. In exchange, you’ll get peace of mind that the money will continue to come in and the bills can get paid.

Information from this article has been sourced from the Property Investors Alliance

Businessman,In,Big,City

If You Want To Be Wealthy, You Should Avoid These 5 Mistakes

Becoming a millionaire seems like the perfect dream for most people. In order to make this dream come true, though, it takes a lot of determination and hard work. Although many of the people dreaming of becoming millionaires will end up settling for less, this does not have to be the case with you. If you are driven by the thirst to succeed, you need to build on solid ground and start making life changes.

However, there are a lot of misinterpretations that can get you off the right course towards success. Some things just are not necessary and in fact can be proven extremely damaging to your goals. How to be rich does not depend on any of the following misconceptions. Read the following points below carefully and find out what you do not need to do:

• Work on conventional niches

This is a safe way towards failure. In other words, you do not want to engage in niches that have been regarded as a traditional money-making business. You cannot expect to get rich any time soon by practicing law or medicine or architecture. These professions require a lot of time, and you slowly build your income, up to a point.

• Assume that just by studying hard will bring in the cash

There is no guarantee that your studies will pay off in the future when it comes to your professional career and money boost. On the contrary, most of the times you will be expected to choose a different professional path, which has nothing to do with what you have studied.

• Depend on luck

Luck is definitely not the main factor that determines if you get rich or not. You should focus on taking advantage of any opportunity coming your way, rather than wait for luck to knock on your door.

• Indulge in scams

Nothing good has ever come long term from scams. Even if you are lured by short-term winnings, you will most likely learn the hard way that such money does not last. So it is not worth risking your career for something with dubious results.

• Maintain a rich social life

Unfortunately, when you set your mind on how to be a millionaire, there is no time to waste. This means that you must be considerate and schedule all your social plans according to your optimal benefits professionally.

Of course, these are just few of the things you ought to avoid on your path to success. You need to set realistic goals and do not let go till you reach them.

Businessman,In,Big,City

How to Develop a Millionaire Mindset in 5 Simple Steps

To become a millionaire – this is what many people want to be in their life. It may seem to be too ambitious, but there is nothing wrong about having such a dream. However, as we all know, it is easier said than done. We can all dream of it, but not everyone can achieve it. Your journey towards financial success will not be easy, but if you know how to do it, such will be possible. With this, keep on reading and learn from the insights that we will be sharing on how to be rich. You need to develop a mindset that will help to fuel the realization of your goal.

Visualize and Claim It

If you want to be a millionaire, the first thing that you have to do is to claim it. You need to be focused on your goal and visualize it. I can do it, and I will do it – this should be your way of thinking. You should always stay positive. Emphasize the things that will happen once you have accumulated millions of money. Where should I go? What should I buy? What business should I establish? Thinking about these things will help for you to not lose track of your goal.

Surround Yourself with the Right People

Your external environment will also have a huge role to play. With this, if you are thinking of how to be a millionaire, choose your friends wisely. Be cautious about the people around you. Stay away from those who will drag you down. Be friends with people who will encourage you. Look for an inspiration. By being surrounded with millionaires, you will be more motivated, and you will gain insights that will help you achieve your dream.

Invest Your Money

This is one thing that may seem to be basic, yet ignored by many. To be a millionaire, you must know how to grow your finances. Do not just spend it on anything. You need to carefully choose where to put your financial resources. You need to brave enough to take risks, but make sure that every move is carefully calculated.

Never Stop Learning

Invest in yourself. Read books. Enroll in online courses. Attend seminars. These will provide you with insights on how to be rich, including financial strategies that can prove to be effective. Learn everything that you need to know about market and economic fundamentals.

Rise Up From your Failure

If you fail, this should not be a reason for you to give up. If you want to be a millionaire, you should consider failures as opportunities for learning. Ask yourself about what went wrong, and more importantly, what can be done to prevent failures in the future.

Businessman,In,Big,City

The 3 Surprisingly Simple Ways To Become A Millionaire

There are quite a few things that are going to make you happy in life and let’s be honest, money is amongst the most important ones of them. From a psychological standpoint, it is funny how something so materialistic can mean so much to us. But, whether we like it or not – it is what it is and I’d rather cry in a Rolls-Royce than on the street.

So now the big question is, how do you become rich? Is it even possible in this restricted and challenging society that we live in? Of course, it is possible. Becoming a millionaire might not be easy but it’s certainly not impossible.

Start Small

The first thing that you need to understand is that you are not going to become a millionaire overnight. There are no magic formulas or get-rich-overnight strategies. The sooner you get this out of your head, the quicker you are going to achieve your goal. Start small, but start smart. If you don’t have money to invest, there are plenty of things available online which are going to allow you to build your fortune from scratch.

Speaking of Online

If people in the 20th century became millionaires by establishing physical enterprises, production lines, manufacturing industries, and whatnot, we live in the era of the services. Placing your service on the market is a lot easier and risk-free than actually selling a product. Sure, it might yield smaller returns, but your possibilities are endless and not limited by physical faculties. With this in mind, that’s something that you might want to think about.

Now, as we said above, there are plenty of opportunities on the Internet. And that’s a fact. The Internet is a global networking tool which could let you reach out to hundreds of thousands and even hundreds of millions of people from all across the world. So, if you are having a hard time figuring out where to start this might be a good idea.

A Million Dollars is Not A Lot of Money

By definition, you are a millionaire as long as you have one million dollars, or any other currency, based on your location, in assets. This is not the goal you should pursue. Being a millionaire is about not thinking of money – it’s about thinking of achievements, power, growth and prominence. If you want to know how to be a millionaire you should start by getting your mind clear and identifying the goals you want to achieve and forging the path of least resistance towards it.

Businessman,In,Big,City

How You Too Can Achieve Financial Freedom with Property Investment

 

Achieving financial freedom through property investing is within most people’s reach, including yours.

But the earlier you start investing, the greater your chances of building a property portfolio that will generate an income that’s capable of letting you live the life you want.

The good news is that it has rarely been easier to take the first step on your property investment journey than in today’s property market. That’s because reduced prices and record low-interest rates make entering the Sydney property market a more affordable proposition than it has been for some time.

After you’ve taken your first step and, over time, both the value of your property (capital) and your rental income (yield) should grow. As your property grows in value, the equity in your investment property will grow too. You can then leverage this equity to invest in a new property and grow your portfolio.

While most property investors start their journey using negative gearing – ie the rent they receive doesn’t quite cover the mortgage repayments – this changes over time. Once they start paying down their loan and the market rises, their equity grows and the income they receive increases to the point where it outstrips repayments.

When that happens to your investment, you’ll start earning passive income which can supplement your other earnings and eventually, when you retire, even replace your income altogether.

For this reason, your wealth as a property investor usually depends on:

How soon you purchase
The market conditions you purchase in
How many properties you own, and
How long you hold onto your properties for.

That said, there’s no set number of properties to which you need to aspire. You should always base the size of your property portfolio on your own circumstances and financial goals. You should also be prepared to be flexible. There may be times you’ll want to sell a property and rationalise your portfolio, especially if you’re changing your investment strategy or you need the capital in your property to meet other goals.

Information for this article has been sourced from The Property Investors Alliance.

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5 Simple Reasons “Rentvesting” Will Help You Reach Financial Freedom

According to Realestate.com.au’s renter research, more than 1/3 of Australians rent in more than 2.5M properties in Australia. Kurtis Pirotta, Rent Specialist from REA, has identified that 8% of tenants currently renting own an investment property. With interest rates historically low, an increasing number of renters are becoming buyers – with 50% of tenants looking to buy in the next 5 years.

Here are 5 good reasons why more and more people are actually “rentvesting” (purchasing a property with the idea of renting it out):

You could qualify for generous tax breaks

Property investors often qualify for tax breaks such as negative gearing. This lets you offset the interest you pay on a home loan against your income so that you pay less tax. You may also be able to claim the depreciation on your property asset, especially if you buy a new property.

It can be very cost-effective

Because someone else is paying off your mortgage and you’re receiving potential tax breaks, you could purchase an investment property for less than you think. For instance, our analysis shows you could buy a property worth $650,000 for just $76 a week (out of pocket) if your income is $70,000 a year.

A new revenue stream

Eventually, as the rent on your property grows, you’re likely to start earning more than you pay your rent every month, meaning, you’ll have a new income stream – passive income.

You could start building a property portfolio

Over time, as you pay down your loan and the market rises, you’ll build equity in your investment property. You can then use this as a deposit on your next property, giving yourself the chance to grow an entire portfolio.

You can keep your current lifestyle

Because you’re not living in the property, you can buy in an area you can afford and stay in your current location so that your lifestyle stays exactly the same.

And if you’re a tenant looking to own your own home, the Federal Government’s First Home Loan Deposit Scheme can support eligible first home buyers purchase a home sooner providing a guarantee that will allow eligible first home buyers on low and middle incomes to purchase a home with a deposit of as little as 5 percent (lender’s criteria apply).

Information for this article has been sourced from The Property Investors Alliance.

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Five Habits For Developing A Millionaire Mindset

To become a millionaire – this is what many people want to be in their life. It may seem to be too ambitious, but there is nothing wrong about having such a dream. However, as we all know, it is easier said than done. We can all dream of it, but not everyone can achieve it. Your journey towards financial success will not be easy, but if you know how to do it, such will be possible. With this, keep on reading and learn from the insights that we will be sharing on how to be rich. You need to develop a mindset that will help to fuel the realization of your goal.

Visualize and Claim It

If you want to be a millionaire, the first thing that you have to do is to claim it. You need to be focused on your goal and visualize it. I can do it, and I will do it – this should be your way of thinking. You should always stay positive. Emphasize the things that will happen once you have accumulated millions of money. Where should I go? What should I buy? What business should I establish? Thinking about these things will help you to not lose track of your goal.

Surround Yourself with the Right People

Your external environment will also have a huge role to play. With this, if you are thinking of how to be a millionaire, choose your friends wisely. Be cautious about the people around you. Stay away from those who will drag you down. Be friends with people who will encourage you. Look for inspiration. By being surrounded with millionaires, you will be more motivated, and you will gain insights that will help you achieve your dream.

Invest Your Money

This is one thing that may seem to be basic, yet ignored by many. To be a millionaire, you must know how to grow your finances. Do not just spend it on anything. You need to carefully choose where to put your financial resources. You need to brave enough to take risks, but make sure that every move is carefully calculated.

Never Stop Learning

Invest in yourself. Read books. Enroll in online courses. Attend seminars. These will provide you with insights on how to be rich, including financial strategies that can prove to be effective. Learn everything that you need to know about the market and economic fundamentals.

Rise Up From your Failure

If you fail, this should not be a reason for you to give up. If you want to be a millionaire, you should consider failures as opportunities for learning. Ask yourself about what went wrong, and more importantly, what can be done to prevent failures in the future.

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Why Buying ‘Off-The-Plan’ Can Be Your Ticket To Financial Freedom

 

Buying ‘off-the-plan’ entails entering into a legally binding contract to purchase a property before it reaches the stage of final development and occupancy approval.

Buying off-the-plan can represent significant financial gains for a buyer. In Australia, buyers can enjoy tax depreciation benefits, can access Government grants and incentives and can enjoy owning a ‘new’ property without paying the market premium. First-home buyers around Australia can enjoy exemptions and concessions of stamp duty for properties purchased off-the-plan.

Benefits of buying off the plan:

Secure a high-value asset for a low initial capital outlay – After an initial deposit is made (usually 10%), the entire payment doesn’t need to be paid until the property has been built, giving you time to organize your finances or sell your existing property.

Lock in a price at today’s value – a big advantage of buying off the plan is that you will pay the current market price for a property, even though it will be completed in the future.

Increase in property value – If the market experiences growth, the property you purchase off the plan today may increase in value when you settle up to two years later.

Tax advantages – If purchasing for investment purposes, you may be able to claim depreciation on your tax for items like fixtures and fittings.

Government Grants and incentives – In NSW, off the plan buyers may be eligible for:

New Home Grant Scheme^ – a $5,000 grant (provided that the value of the new home does not exceed $650,000 and the value of vacant land does not exceed $450,000).

First Home Owner Grant Scheme – For eligible transactions made on or after 1 January 2016, the grant amount is $10,000

Stamp duty savings in some states – State governments (in certain states) offer bonuses and reductions in stamp duty for buying off the plan which can save you thousands of dollars.

Seven-year builders guarantee – Newly built properties in Australia come with a seven-year builders guarantee which means structural or interior building faults must be repaired by the builder.

*It is essential to consult your Accountant to find out if you are eligible. Refer to the NSW office of state revenue for further information about grants http://www.osr.nsw. gov.au/grants. ^A new home is a home that has not been previously occupied or sold as a place of residence and includes a house that has been substantially renovated and a home built to replace demolished premises.

The Risks

There are always potential risks when undertaking any major purchase or investment. We recommend that you seek independent legal and financial advice before making any property purchase.

Be well informed; you need to ensure that you do your research and seek further information.

Contract terms – It is essential to have a comprehensive contract that sets out exactly what you are buying – from the features, fixtures, and fittings to the insurance, voting rights (if it’s a strata property), timeframes and dispute-resolution processes.

The rise and fall of the property market – the risk that you may pay too much for a property if the market falls between the exchange of contracts and building completion. Do your research on prospective property locations.

Expectations – generally you will not see the property until construction has completed. Ask plenty of questions, review the quality of fixtures and fittings, make informed decisions.

Interest rates – while currently low, Interest rates could in fact increase before you settle on the property, particularly if you wanted to fix the term of the loan at the current interest rate.

Bankruptcy – Many buyers fear the developer could go into liquidation before the project is completed. Do your research. We recommend that you do your research and ensure that you get independent legal and financial advice on any property purchase or investment. Don’t forget to ask key questions up front and have your Solicitor or Conveyancer to check the terms of the agreement to ensure you are protected, and you achieve peace of mind. NSW Fair Trading advises that buyers can also benefit from asking the right questions. Please see the below link.

Things to consider when buying off the plan

Buying an off-the-plan investment property can be an exciting and beneficial venture in your journey to financial freedom.

*Please note that information from this article was sourced from The Property Investors Alliance

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You Deserve To Be Rich! You Can Follow These 3 Simple Tips To Help You Eventually Get There

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Image via Shutterstock / Syda Productions

There are plenty of ways to accumulate wealth. However, the first thing that you need to know is that winning a huge lottery does not make you a millionaire – it makes you the same regular person with a lot of money. The difference is sky-high. Being a self-made millionaire is something which is going to give you confidence, power, respect, reputation, influence and a sense of accomplishment. You don’t get that by accidentally winning a large pile of cash just because you scratched a few lucky numbers. If you truly want to know how to be rich one day, here are a few helpful tips.

Get Rid of the Misconceptions

Clear your mind. That’s the first thing you need to do. There are no such things as getting rich overnight. Every dollar that you earn comes with sweat on your forehead and loads of effort carried on your back. It comes with a lot of work and dedication. Being a millionaire is not just a state of economic wealth – it’s a state of mind. If you keep finding for that magic trick that’s going to make you millions in a day, you are just wasting your time, and you would never become an actual millionaire.

Set Achievable Goals

Baby steps – that’s the way to do it if you don’t have tremendous amounts of support, of course. Sure, it’s hard, but it definitely isn’t impossible. However, you need to identify your goal and reach for it. In order to do so, you need to make sure that you set achievable goals, not easy ones – achievable ones. There is a huge difference. Learning how to be a millionaire will show you that you need motivation – lots of it. And, there is nothing more motivating than accomplishing a goal.

Don’t Quit

Don’t quite on anything or on anyone unless there is absolutely no other way or you see that it brings in more harm than potential good. When you set your mind to something, just do it. Don’t look for excuses. Every failure is your fault, regardless of what happens. If an earthquake hits and destroys your building – you should have built it better. Of course, there are things that you can’t prevent, but you shouldn’t use them as an excuse. Instead, try to seek out motivation in every single thing. Isolate actionable consequences and make sure to act upon them – thrive, change, fail and try again – this is the only way to get where you truly want to be.

As we approach the end of 2016, I would like to send my thanks to all of our readers and staff for what has been another great year for us. I am aware of the amazing work that is being done across all areas of our company so I’m very proud of what we have accomplished and delivered as a team this year. The end of this year also marks StarCentral Magazine’s 10 year anniversary and I would like to thank God for keeping us alive throughout the years. My best wishes to all of you for the holiday season and I hope you all have an enjoyable time with your family and friends. God bless.

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Want To Become A Multi-Millionaire?? Follow These 3 Steps

Building wealth is probably the most spoken about topic across the world and will be for years to come. How to make money is the 24th most Googled question in the world that’s 246,000 individuals per month hoping to find answers.

You can earn more and save for your future easily, but many people get caught up in the old saying “You have to have money to make money.” If you have this mindset, you have already set yourself up for failure. The truth is you have to be driven, be willing to work hard now and invest so you see a return on capital.

Property won’t make you wealthy overnight, but it is a great first step to financial freedom – a great form of income for you and your family in the future. The Sydney residential property market alone has increased by 74% since 2012[1]. Sydney offers promising returns for investors and the long-term outlook for this market is positive.

Follow our three simple steps to wealth and find out just how easy it can be to build your wealth.

1. Using the family home to build a property portfolio

If you have equity in your own home, do you know that you’ve already taken the important first step in your property journey? That’s because the family home can be more than a great place to raise your children. It can be a powerful tool for growing your wealth and setting up your financial future.

After all, a lender may let you use the equity you already have in your home to fund the purchase of an investment property. That means you may not need any further deposit. Meanwhile, the rent your tenant pays should help you meet the cost of taking out your new loan.

2. Renting and buying simultaneously

Think you can’t afford to buy where you want to live but still want to get a foot on the property ladder? Try the ‘Buy and Rent’, model. Under this strategy, which PIA pioneered back in 2005, you can rent where you’d prefer to be based on your lifestyle, study or work. If you earn $70,000 annually, you could buy an investment property worth $650,000 for as little as $42 a week, out of pocket.

3. Helping the children

Worried your children will never be able to afford to buy a property? By using the equity in your own home, you may be able to get into a property without the need to save a deposit. If they’re not ready to leave home just yet, you can secure and manage a tenant who’ll help pay off your loan until they do.

It’s never to later or early to start thinking about the future and making a plan, invest in property to secure a comfortable, stress-free future for you and your family, build your property portfolio and build your wealth.

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The 2 Questions That Could Determine Whether You’ll Be A Successful Investor Or Not

There are many uncertainties when considering property investment: where to buy, how many properties do I need, do I buy established vs off-plan, what type of investor am I, the list goes on.

But if you start with the end goal in mind and invest strategically, you’ll not only work out what kind of investor you are but also how far you can go. First, you need to ask yourself, what are your needs – both now and into the future – what is it you’d like to achieve? This assists in determining the type of investor you are and what it will take for you to achieve your goals. Then you need to create a property investment strategy based on these needs and the type of investor you are (or want to become).

To help you decide what type of investor you are, you should start with two questions:

How comfortable am I with investment risk?

How involved in my investment strategy do I want to be?

The first points to your understanding of risk versus reward (return). When considering your preferred level of risk and return, timeframe plays an important role. The second determines how active, or hands-on, you are in your property investment journey. Generally, life stage plays a strong role here.

We’ve identified three types of investors that we typically see on the property investment spectrum:

You’re new to investing. You’re a wage/salary earner. Your life up to this point has been about establishing yourself or your family; consumption-oriented strategies; saving for holidays. You may be living from paycheck to paycheck. Your company contributes to superannuation for you. If you own a home, it is your primary residence. If you’re thinking of buying a home – it’s to live in.

You haven’t yet started to think about investing as a long-term strategy, but you are starting to realize that you are responsible for your financial future…and you have yet to work out what that looks like.

How can I avoid living paycheck to paycheck?

What would it be like to have another source of income to make you more comfortable?

What could my savings and investment plan look like in 10 years?

Could I invest rationally, versus emotionally?

How can I become financially independent?

Passive Investor

As you grow and mature you begin to take on more responsibility. You’re working hard to make money and save money. You’ve done your numbers. You research the property industry and follow the media. You believe that you could take the next step…but you simply don’t have the time, out of your day job or life, to focus on this 100% or manage this yourself.

The passive investment strategy is good for people with busy lives, families, jobs, outside interests, or entrepreneurs building businesses. Let’s face it: most people’s lives are already full leaving little time for developing investment skills. It is difficult to make investing a top priority despite its financial importance.

A common result of this time limitation is passive investors often delegate the responsibility and authority for their investment decisions to “experts” such as financial planners, brokers, property consultants. Rather than become their own expert on investing, passive investors typically rely on other people’s expertise for their investment strategy. Their defining characteristic is the need for simplicity.

Active Investor

You’re a seasoned investor. You’ve built upon your passive investor skills and are now transitioning to a new investment strategy, whereby your wealth and your future is your own business.

You are now fully in control of your portfolio; you make daily decisions based on your learned skill set. You follow the market, and you manage your cash flow accordingly.

Active investors work hard at making their money work for them as they understand the end goal is all about return on investment. Small differences in growth rates over the long term can make large differences in wealth accumulation.

So you know what’s involved and what to expect. You expect results, and you’re open to advise… after all, you have an investment plan in place.

Active investors require a different level of service and support. Less time spent on why to invest, and more time spent on how and where.

This article has been sourced from The Property Investors Alliance

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The Big Reason Why Sydney’s Hills District Is The Next “Gold Mine”

Not so long ago Sydney’s Hills district was land of the McMansions, for those who wanted bigger houses with bigger land size.

Today the hills district is considered one of Sydney’s fastest-growing suburbs, providing new homes for over 90,000 people over the next decade.

Nestled in the hills shire region is Kellyville a new hot spot for developers and homeowners.

Kellyville has proven to be one of the countries’ most sought-after property markets. In 2016 Kellyville was the national top five highest gross values of sales of the year in Core Logic’s Best of the Best.

The market is on fire and set still continue growing with new infrastructure including schools, open spaces, roads, public transport, and shopping will make the hills district an increasingly popular place to live.

Kellyville has seen 7 years of a positive apartment/unit growth with a 9.68% averaged over the past 4 years – above that, even for the hills LGA region in the past year – demonstrating top performance. The median house price increased by 84.0% in just 5 years.

Apartments will become part of the future at Kellyville, with sleek fit-outs, high-quality fixtures, low maintenance and no lawns to mow! Plus, they include great amenities including landscaped communal gardens and even rooftop pools are now available in a community-friendly place you can call home… at a more affordable price tag.

Dyldam is an award-winning property development and construction group that specializes in residential developments in metropolitan growth corridors. Look out for their new apartments in Kellyville.

Savant offers a unique lifestyle in the new hot spot that shows a promising return on investment, just 35 minutes from the Sydney CBD. Set in the midst of country style living, surrounded by parks, shopping, and a stunning golf course.

*Please note the information from this article sourced was from The Property Investors Alliance