Using Super to Buy Property: How One Brisbane Investor Is Building Wealth Through Rentvesting
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What unconventional approach to property investing does Yvette Buckley take?
It's the Real Estate Podcast, brought to you by ANZ Home Loans for financial well-beings. Hey, welcome back to the Real Estate Breakfast. After another weekend came and went, it vanished really. Although, if you were caught up looking at real estate over the weekend, it might have dragged extremely slow for you heading from one property to the next. And let's not forget that it is expensive to do this at the moment. You know, it's your time. We've got petrol becoming more expensive. You should be, if you're not using your GPS, and if you haven't thought of using AI, do it. Throw in all of those addresses. These are the properties you look at. With the times and AI like ChatGPT, that will spit out a schedule for you all within five seconds.
It's a great idea. It's going to save you time and money. And if you can do that, job done. It's a Monday, March the 16th. I see that Brett Lee, the cricketer, he's turning 49 today. Seems only yesterday we were watching him on the cricket field. And here's an interesting story about how some Australians are approaching property and retirement. One Brisbane renter has taken a very different path, buying an investment property using her superannuation, even though the law means that she can never actually live in it. Instead, the property must stay rented out while the rent and super contributions help pay down the mortgage. It's kind of a version of rent vesting that allows her to keep renting where she wants to live while hopefully building long-term wealth through property.
And we're going to take you to Brisbane right now and actually catch up with her because she does have a name. Her name is Yvette Buckley. And a very good morning to you, Yvette. Welcome to the Real Estate Breakfast this morning. Nice to have you on. Thanks so much for having me. Good morning. You have been working since 16 and the idea of buying a home the traditional way still felt financially overwhelming to you like a lot of Aussies. So understandably, you didn't want to spend decades buried under a huge mortgage. Instead, you wanted to take a different pathway, one that could help you grow your wealth and build some security for your retirement. So this is all sort of illuminated to what you've done here.
Yeah, 100%. Definitely didn't want to live under, especially with today's house prices, you know, a huge 95% mortgage, trying to pull the deposit together. It did feel like it was overwhelming.
The idea, is this true? It came to you after learning about a similar strategy used within the Defence Force.
Yeah, that's correct. So they have a program called Defence Force Housing Australia, where you can purchase property through your super fund. And so to look into that, I've then realised that that was a possible, not just through the Defence Force, but actually you could buy property through your super outside of that program.
Tell the people listening that by using your superannuation for the deposit, you were able to put down a much larger upfront payment and keep the overall mortgage smaller. So just talk through all of that.
Yeah, for sure. So I looked at pulling together a deposit by yourself. I'm a single person. It's quite difficult when you think about the average price of a house or a townhouse being, you know, $700,000, $800,000, $900,000. But when you've been working, you know, since you're a teenager, which most of us have, your super has been accruing and getting higher every year. So you've got a pretty good lump sum in there if you can utilise that as your deposit and Yeah, you can then get a mortgage using a much larger deposit, which is a much smaller mortgage overarchingly. And you can service it by having a renter. And then just your normal superannuation deposits are coming from your employer.
And when you buy property using superannuation... The rules, as I mentioned, they are very strict. The home must be treated purely as an investment. That means that you, your family or your friends can never live in this property. The property must remain rented out.
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