Securing Financial Future As Individuals Through Property Investment
According to Patrick Leo, the best way forward for a couple isn't always investing jointly. James Nihill shares Catherine and her partner Adam's story here.
Just 12 months ago Catherine Medwin and her partner Adam Hanratty didn’t know where to begin when it came to property investment, however, they are now on their way to building an investment portfolio each and securing their financial future.
Catherine, a 28-year-old primary school teacher and Adam, a 29-year-old Australian Border Force Officer decided it was time to think seriously about their financial future and wanted to invest in property. Both living in Melbourne, earning different wages and inexperienced in the investment market, they were unsure whether they were in a position financially to invest.
“I met with Patrick Leo a year ago to assess my financial situation, yet due to some unexpected house renovations needed for my home, my investment goal was put on hold. Once I had sorted things at home, I was finally in a position to look into property investment seriously,” said Adam.
“We are both at different stages and have varying goals, so rather than invest together as a couple – the best way forward for us was to have individual strategic investment plans catered to our lifestyles,” said Catherine.
According to Patrick Leo, the best way forward for a couple isn’t always investing jointly.
“Catherine and Adam had differing long-term goals so we created a strategy perfectly suited to each individual. We found that both Catherine and Adam could both benefit from investing in property, yet in completely different ways,” said James Nihill, Managing Director of Patrick Leo, licensed real estate agent and property investment specialists.
“Adam was looking to secure a brand new investment property, while Catherine was more focused on securing a property that will increase in value so that she can use this property as equity in the future,” said James Nihill.
Catherine invested in a four-year-old four-bedroom, two-bathroom house in Bendigo for $330,000 that was already tenanted.
“When considering a growth area for investment property, there are few better than Regional Victoria. For Catherine, Bendigo was the clear choice as the area demonstrates strong capital growth over the medium to long-term and the property was also an affordable price point with a manageable mortgage which were both critical for Catherine,” said James Nihill.
“I never thought the process of investing in property could be so painless. I had been saving for such a long time to be able to afford to invest in property, that once I had finally gone through with it, I felt like the pressure had lifted. If anything, I can now be a little more fluid with my money,” said Catherine.
For Adam, Patrick Leo determined that a purchasing a house-and-land package was the best strategy. Adam is now currently building a four-bedroom, two- bathroom house on the Sunshine Coast for $480,000.
“By building a new property rather than invest in an existing one, I gain considerable tax benefits both now and moving forward,” said Adam.
“Queensland is emerging as an investment hotspot, driven by affordable pricing, strong interstate migration and high levels of government infrastructure spending. Adam was in a position to build a new home in a sought-after area, and he can now relax and enjoy the benefits of capital growth in a rising market,” said James Nihill.
“I’m not worried about living in another State as the build and on-going management will all be taken care of for me,” said Adam.
“I travel constantly for work and spend long periods of time overseas, so I love having that peace of mind knowing that things will be handled properly on my behalf.”