Sydney Herald today published an article of how Australians are more and more becoming "landlords" vs "homeowners" and are increasingly taking the rentvesting path to property ownership.
"Rentvesting" is a strategy that Property Guru of "Your Empire has been promoting for the past 10 years" and a strategy that a friend who is a corporate trainer has been implementing - with now over 40 properties amassed over the past 20 years!
Westpac's head of home ownership, Lauren Fine said that 41 per cent of all Australians surveyed believing it’s better to buy an investment property in a more affordable area and rent a house in an area you really want to live in.
But Ms Fine said that 77pc of those rentvestors still aspired to own their own home to live in, despite soaring property prices. I suppose it's that "feeling of having to own your own home kicking in."
Chris Gray, Sky News leading Property Commentator is the guru of "Rentinvesting", having amassed more than a $15m property portfolio - while still renting the exclusive apartment he lives in - in the best area in Sydney and driving his Lamborghini and entertaining in his luxury cruiser . He will be sharing his strategies at BBG's Mastermind Lunch on Friday
Rentvestor Tanya said that she wanted to be in the property game and not fall behind, but also have the lifestyle and career opportunities in Sydney Metro.
The Westpac report predicted rentvesting would continue to grow as affordability hampered young Australians’ ability to enter the housing market.
Miss Fine went on to say that if you are looking into rentvesting, it’s important to consider a home that will appeal to tenants such as being close to public transport and good schools.