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If you want to grow your business of property investment, if you want your investment property portfolio to go to a new level, you have to go to a new level as well.”
So many successful people share this belief and so are constantly “working on themselves”!
You look at any person who is performing at their peak and I guarantee they are always consciously working on themselves – reading, going through courses, training with coaches and mentors etc, because they understand that if they don’t, then they are not going to get where they want to go!
You can’t go around treating Business, Relationships, and your Self as separate parts of your life.
You are one person, living one life, with multiple goals; not one person, living multiple lives, with multiple goals!
It is so important to recognize that all the goals you have for success will only be realized if you are work on the common denominator – You!
You need to start thinking “I need my business to grow, I need to grow”
If you are looking for business growth, then doing more and working harder is only going to get you so far, and is ultimately going to end in dissatisfaction, burn out and disappointment.
You need to think of yourself as a tree.
Your Goals and Dreams are the branches and you are the base of the tree (the Roots and Trunk) that nourishes them.
If you are not looking after you, or a part of the base is being deprived then ultimately branches will start dying and falling off!
Deepak Chopra said "I use memories, but do not allow memories to use me" Use memories and experiences to learn from and to create your future. Our experiences must be used to create our future, not to make us wither and shy away from the future as a victim of poor experiences.
Tax variation form - The quickest way to improve your cashflow as a property investor.
Cash-flow is the lifeblood of any business, and property investing is your scalable business. Few, if any want to pay more tax during the year than required (although more tax = more profitable income, so some might argue oterwise), but why wait for it tax dollars back, when you can put it to better use now.
For example, these reduced tax deductions increase your take home pay each week and could contribute to increase the cash input required in servicing your loan.
Rather than wait for the annual tax return to be repaid in one lump sum at the end of the financial year, be paid directly each pay period. Whatever that equates to for you, you'll receive additional in your pay each week for the remainder of this financial year. This additional cash flow can be used to:
- Improve your lifestyle
- Repay debt faster
- Improve the position of an offset account
- Save
- Re-invest
What is the PAYG Income Tax Withholding Variation?
An Income Tax Withholding Variation (ITWV), is an annual application made to the ATO to vary the amount of tax withheld from your salary each pay by your employer.
This variation is valid for the entire financial year. It simply means that a taxpayer who is entitled to a refund at the end of the year can access the funds each pay period, rather than waiting until their annual tax return is completed and lodged.
Find out more and find the form...
Read more: The quickest way to improve your cashflow as a property investor.
The median price of houses in the Newcastle CBD surpassed $1 million for the first time earlier this year.
Much of this increased sales activity has been the result of Sydney buyers streaming into northern areas hoping to get more far greater value for their money. What you get in areas like Newcastle is so much more than what you get in some parts of Sydney for the same price and that’s largely what is luring Sydneysiders to the area.
Trickledown effects for satellite cities
One of the impacts of Sydney’s extreme growth over the last several years is the positive effect it has on investment property in Newcastle and similar areas. As the BIS Residential Property Prospects 2016 – 2019 report notes, “residential property prices in Newcastle and Wollongong usually benefit when Sydney experiences strong price growth and migration into these regional centres increases”.
According to BIS, over the years to 2018, Newcastle is anticipated to see 15 per cent. Whilst QBE anticipate a solid 12% by 2018 based on Newcastle having a very positive outlook, with new infrastructure spending off-setting the decline in investment in the coal sector. The widening price disparity with Sydney should incentivise migration from Sydney to the region.
Ratings agency S&P said there would not be a sharp price correction in Australian housing and that real estate investment trusts should expect a slowing in the tightening of capitalisation rates despite more offshore capital investing here.
The latest edition of the HIA-CoreLogic RP Data Residential Land Report has just been published by the Housing Industry Association, the voice of Australia’s residential building industry and CoreLogic RP Data, Australia’s leading property information analytics provider. The report covers the December 2015 quarter and provide more evidence of severe supply constraints in the market for residential land.
During the December 2015 quarter, the number of residential lot sales across Australia fell by 1.6 per cent, while the median lot prices increasing by 5.2 per cent to $234,600. Land supply pressures were more pronounced in the capital cities, with lot sales falling by 2.3 per cent during the quarter and the median lot price rising by some 6.6 per cent.
“Conditions in the residential land market are making it more and more difficult to deliver the new housing stock that Australia needs,” noted HIA Senior Economist, Shane Garrett.
“Once again, we’ve had another quarter of dwindling land lot sales and pretty stiff price increases – evidence of insufficient supply,” Shane Garrett explained.
“We need much greater emphasis on the delivery of new residential land supply involving better models for infrastructure delivery and a real sense of urgency in the planning process,” Shane Garrett pointed out.