With property prices continuing to soar across the country, first home buyers and investors are looking for easier ways to enter the property market, yet still build wealth for retirement. Is renting and building a property portfolio possible?
One of Australia’s property thought leaders Chris Gray has the answer– rent while building a property portfolio, a principle that he has lived by for over a decade.
At the 2015 Property Buyer Expo, which runs from 30 October until 1 November, Chris is one of the key note speakers and will be sharing his knowledge about how he has built a multi-million property empire while renting and the benefits associated.
Chris Gray, Founder of Your Empire comments, “Depending on financial and lifestyle goals, the advantages of renting whilst property investing can be significant for many investors. Some investors simply don’t understand the benefits associated as they are attached to the stigma that poor people rent. This is not the case. I know several very wealthy people who choose to rent whilst also owning substantial property portfolios both in Australia and overseas.
“Additional reasons why investors struggle with renting include most people are taught to own not rent a home, there is a mindset that ‘I might get evicted renting’, people believe they can’t decorate a rental – many landlords do allow this, the hassle of moving and the idea that rent money is dead money. This is only the case if the money which would have been used for a house is being spent on lifestyle items and not wisely invested.”
The benefits associated with renting whilst property investing include investment money can work harder for less risk on several properties rather than one large asset, people can try before they buy in an area and test first if they like it before outlaying significant funds and a mortgage noose is not around the neck with one expensive asset.
Chris concluded, “This renting investment strategy is becoming more popular as property prices continue to rise and first home buyers struggle to live in their dream location. The stigma associated with renting is changing as people understand the opportunities that are associated with it. For many the idea of renting whilst building a property portfolio makes financial sense.”
Topics that will be explored as part of Chris’ expo presentation include:
- Why ‘rent money is dead money’ is a term best kept in the last millennium.
- How negative thoughts around renting can be turned into positive ones.
- Why buying a home and paying it off could be the worst decision for long term financial health.
- How to live in a dwelling up to three times more expensive than was thought possible.
- Using the renting versus buying mindset to afford luxury cars, boats and other desires.
The Property Buyer Expo will be held at the Sydney Showgrounds in Homebush. For further information about the event and to book your tickets visit www.propertybuyerexpo.com.au – to claim your FREE tickets enter the code ‘EMPIRE’.