Victor Kumar is a qualified radiographer and sonographer, and a self-confessed property tragic. He bought his first investment property in 1999, and in 2001 started buyers agency Right Group.
When Labor announced its policy to restrict negative gearing, Sydney’s property market was soaring, and its median house price had hit $1 million. Unfortunately, for Labor, much has changed since those heady days.
There have been even more media stories lately foretelling some type of Market Armageddon that is about to hit nationwide.
The recent 60 Minutes story that “predicted” property price falls of 40 per cent was nothing short of irresponsible.
In my experience, many novice developers get too fixated on pushing ahead with their plans, even when the numbers no longer stack up.
One of the biggest mistakes I see new investors make is being too fixated on interest rates.
The thing about investing in property is that it doesn't need to be difficult or tricky if you understand its various ins and outs.
One of the strategies that is regularly advocated in the property investment sphere is living off equity.
Many investors steer clear of vacant land because they mistakenly believe they can't claim interest repayments on it.
When a market is transitioning it takes a while for both sellers and landlords to catch up.
When it comes to property investment, you always need to understand the "why" before buying anything.