Watch out

Watch Out When Migrating to Australia

 5th April 2020                           A personal account of, moving to Australia and nearly coming undone!

 

After meeting my Australian wife in 2010, I relocated to the Gold Coast, from my hometown of Johannesburg in 2017. As I was a foreigner,( despite my wife being an Australian citizen) and I was unable to obtain any finance upon arrival, this meant I needed to use my personal savings and my cash to pay 12 month’s rent upfront and purchase two cars - cash!

Because I had no Australian credit history, I couldn`t get a loan, to either purchase a house or get loans for cars. 

Over and above this I had to keep up with the cost of living in Australia. This was a huge set back as my personal savings were severely diminished.

I felt that this situation, meant my journey to start my life in Australia was completely on the back foot. I couldn`t purchase the cars I was hoping to, I couldn`t move into the home I was hoping to, and, I didn`t realise that spending all that money upfront on rent and cars would  make it so hard later on to save enough for a deposit on a house, especially with house prices increasing annually

 

Having migrated I was receiving many inquiries from fellow South Africans about the process and how it all works.  

To help them prevent the same mistakes. I decided to form a small business helping South Africans move over without going through the same financial pressures I had to overcome - particularly the hassle of not being able to get any finance in Australia, even though I had a good credit rating in South Africa. This experience taught me, that the way to make sure you could have finance and credit history once getting to Australia, was through investing in a property and organising a Mortgage in Australia Before the actual relocation.

My vocation in South Africa had been in Real estate and I have a passion for this. I became focused on helping South Africans, to be able to give them the opportunity to be able to get into the Australian Property Market and avoiding the snags that I had encountered. Assist them in learning how to organise Australian Funding here - BEFORE they relocated.  This comes with many complexities such as the issue of organising Finance (Property Bond) for non-residents that did not have PR (Permanent Residence) and who were still domiciled offshore.

Often we do not know what we don’t know, and I hope now to help many avoid making the mistakes that I did.

 

Damien Cornelli

Migrating to Australia? Know the Facts

6 November 2019 - If you’re considering migrating to Australia, there are some very important things to factor in before you make the decision to move.

DID YOU KNOW? Your South African credit rating does NOT follow you into Australia

That’s right. No matter how good your credit rating is in the country you’re coming from – once you step foot in Australia as a migrant, you will have to start afresh

Benefits of Investing in Australian Property

Out of all the methods available today to supplement your income and diversify your funds, investing in property is still one of the more stable, flexible and lucrative approaches – especially if you’ve got the know-how on your side to really capitalise on it. For foreign investors looking into this opportunity, Australia has long been marked as one of the best places to invest owing to its stable economy, well-established legal and property buying system and the significant tax incentives offered on investment properties for rental purposes.

Cash Flow Positive Properties: Dual Dwellings & NDIS Properties

Accelerate your wealth with more than one income from one property

Dual Dwellings

Dual Dwellings is another innovative method occurring more and more in the past few years, which has come about due to the need to find more affordable properties for people looking to rent.

There is always someone looking for cheaper rental.

 Dual Dwellings are more difficult to find and, being located in high demand areas with limited supply, should therefore assure excellent capital gain as well as increasing rental yields.

These types of properties need to be approved by the local council and then the land development group with stringent building conditions, and are more often located in owner occupier estates and locations.

How does it work?

  •     2 Properties to rent out for one purchase price.
  •     Positive cash flow
  •     Returns of approx. 6.9%
  •     Two lots of tax deprecations to claim instead of only one
  •     Capital growth potential
  •     Minimal outgoings
  •     3 beds, 2 bathrooms, single garage PLUS 1 beds, 1 bathrooms, single garage OR 2 beds, 2 bathrooms, single garage PLUS 1 bed, 1 bathrooms, single garage  
  •     No Body Corporate fees
  •     Separate water and power –  tenants are charged separately   
  •     High demand
  •     Looks like a standard home from the street
  •     Risk minimisation

NDIS Properties

Investing in specialised housing is a solution for those looking for a guaranteed funding stream.

The income stream is government backed.

 

What is NDIS

The National Disability Insurance Scheme Act 2013 (NDIS) provides support for people with disability, Their families and carers. It is jointly funded and governed by the Australian and participating States and Territories government.

The main component of the NDIS is individualised packages of support to eligible people with disability. This is expected that around 460,000 Australians will receive individual supports.

These properties are SPECIFICALLY APPROVED by Government authorities to provide high care facilities for higher need and older people.

Demand is higher then supply and only after rigorous planning with relevant authorities can this type of accommodation be approved.

Much higher returns and no vacancies to worry about as it a government backed rental scheme.

Australian Property Remains Strong

7th March 2020

It is essential  to understand the statements below, when looking to Australian Property Investment.

There is NO SUCH THING as a global Australian Property Market , because where the cycle is in one region , it will not be the same in another. Each area must be taken in isolation to identify where the specific cycle is in that location.

Australia has entered its 28th year of consecutive annual economic growth, setting a new record among developed economies for uninterrupted expansion.

This enviable record of steady growth proves the robustness of Australia’s economy and its reliability as a low-risk and safe environment in which to do business.

The country’s strong regulatory institutions, ability to respond to global changes, and diversified, services-based economy underpin its steady growth. (extract Austrade.com.au)

Key parts of Australia's economy are started the year looking weak, but the housing market is one glaring exception.

There are early signs the first few weeks of 2020 have been strong for property, with two consumer surveys by banks last week showing people were becoming more bullish about bricks and mortar.

Commonwealth Bank said its survey of home-buying intentions had reached a record high. Westpac's survey of consumers also said house-price expectations had soared by a "staggering" 58 per cent in the past year.

Property in Australia remains strong with The Reserve Bank of Australia lowering the cash rate by 25bps to a new record low of 0.5 percent during its March meeting aiming to support the economy

 

New and innovative housing policies with the Governments of Australia address any housing situation very quickly.