Rich Harvey
speaker
1,863 appearances
17 recordings
1 series
first heard Jan 2022
last heard Oct 2022
Rich Harvey’s voice in public audio — every appearance, attributed to the second.
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Rents have risen around 10% and that will significantly boost your yield.
And if you get any kind of pushback from your property manager and says, look, oh, I don't know if the tenant can afford it.
It's not about that.
It's about what the market can afford.
Because if that tenant can't afford, they should move out and you get another tenant in place.
The second thing, if the capital growth has been lackluster and it hasn't grown in value,
and it perhaps has very, very little prospects of growth, then it could be time to review that opportunity to sell the property.
But what I'd caution people there is don't sell out too quickly if you've just bought the property.
You've got to be patient as a property investor.
And I've said this many times on this podcast.
Sometimes property can be very forgiving in the long term.
So just wait long term because capital growth does come.
It's really important to ride out those seven to 10 or even 12 year cycles and make sure that you hold that property.
So you get the magic of compound growth over time.
If you look at what drives capital growth, we mentioned before the blue chip location, strong buyer appeal, unique elements, close to a city or a waterfront position.
They're all things that will really constrict supply.
And homebuyers in particular really prioritise that sort of proximity to location.
On the other hand, cash flow positive properties are those with really strong tenant appeal, and they could be in sort of the outskirts of the cities, regional areas, or some sort of boom towns.
But it's also the layout, the number of bedrooms that you've got in the home, because the more bedrooms you've got, the higher the rent that generally applies.
As I said, there's no one size fits all.
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