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When it comes to building a booming property portfolio, diversity is key! This means purchasing a number of different types of properties in a range of locations to maximise your opportunity in the marketplace. When employing this strategy, many investors stick with houses and apartments, but multi-income properties can be a cash-flow accelerator\u2026that is, <\/span>IF<\/span><\/i> you know what you\u2019re doing.\u00a0<\/span><\/p>\n But first, what is a multi-income property?\u00a0<\/span><\/p>\n Essentially, it\u2019s one building that gives you more than one rental income. Now while extra money in your back pocket does sound great, this style of investment doesn\u2019t come without pros and cons.<\/span><\/p>\n There are four primary multi-income types that Australian investors can buy at the moment. They are:<\/span><\/p>\n Each type of multi-income property comes with its own set of challenges for an investor, and it\u2019s not always the type of property you\u2019ll want to start your investment journey with.<\/span><\/p>\n Most multi-income properties involve some level of \u201chands-on\u201d time and need more attention than a single-income investment.<\/span><\/p>\n But, once your investment journey is underway and your cash flow is positive, a multi-income property could be a way to fast-track your portfolio and give your income stream a boost. Let\u2019s explore each type.\u00a0<\/span><\/p>\n One title, two incomes. From the road these properties look like one home, but they are actually split, resulting in a 1-2% increase in potential rental yield.\u00a0<\/span><\/p>\n One part of the property is usually smaller \u2013 think a one bed apartment or granny flat vs a larger 3-4 bedroom home.\u00a0<\/span><\/p>\n The only real challenge with this kind of multi-income property is finding a property manager who understands how it works and will take care of both properties for you in the right way. This is because dual incomes aren\u2019t as common as single-income properties, however once you find a professional who has experience in this area, you\u2019ll be away.\u00a0\u00a0<\/span><\/p>\n Two titles, two incomes. This property is very obviously split. Commonly sharing a wall or part of the building, duplexes are two properties that happen to be joined.\u00a0<\/span><\/p>\n Different from a dual income property, you can sell one half of a duplex, whereas dual income properties you have to sell as a whole. This obviously gives you flexibility and the potential for greater capital growth and gain over time.\u00a0<\/span><\/p>\n One of the downsides to duplexes are the rates that some councils charge for this kind of property, so make sure you know what you\u2019re getting into from the get-go.<\/span><\/p>\n Buy a big house, split the rooms into separate units, and rent them out.\u00a0<\/span><\/p>\n While the potential to increase rent yield is significant, the myriad of issues with this kind of property make it a no-go for most investors.<\/span><\/p>\n Banks and lenders don\u2019t like them. Insurers don\u2019t like them. Even the Fire Brigade doesn\u2019t like them.\u00a0<\/span><\/p>\n Unless you\u2019re very experienced running this kind of property and want a very active investment role, steer clear.<\/span><\/p>\n The National Disability Insurance Scheme is a state and federal managed system that assists people with a disability, and their family and carers.<\/span><\/p>\n Specialist Disability Accommodation (SDA) is quality housing that is built specifically for people with disability and caters to their set of needs.\u00a0<\/span><\/p>\n SDA is usually slightly more expensive to build and equip than standard housing and includes things like wide doorways, ramps, and support systems in bathrooms, kitchens and bedrooms.\u00a0<\/span><\/p>\n Investors can benefit, not only from the multi-income yield across rent and subsidy payments, but also knowing they are assisting those who need specialised housing.<\/span><\/p>\n Read more about NDIS options for investors <\/span>here<\/span><\/a> and <\/span>here<\/span><\/a>.\u00a0<\/span><\/p>\n If you\u2019re thinking about investing in a multi-income property, get some expert advice from the coaches and mentors at TRC-Gorod who have decades of combined experience in all kinds of investments.<\/span><\/p>\n Better yet, sign up for one of our <\/span>free information and education events<\/b><\/a>, where you\u2019ll be equipped with the tools, resources and support to thrive, and not fall behind on your path to financial freedom \u2013 whatever that may look like for you.\u00a0<\/span><\/p>\n Learn more about how you can take advantage of the current property market today.\u00a0<\/span><\/p>\n <\/p>\n Register now for the free property investor webinar here.\u00a0<\/b><\/a><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row padding_mobile=”on” column_padding_mobile=”off” custom_padding_last_edited=”on|phone” admin_label=”Row” _builder_version=”4.16″ background_color=”#ffffff” background_size=”initial” background_position=”top_left” background_repeat=”repeat” max_width=”768px” custom_padding=”50px|60px|60px|60px||” custom_padding_tablet=”” custom_padding_phone=”40px|20px|40px|20px” make_fullwidth=”off” use_custom_width=”on” width_unit=”on” custom_width_px=”768px” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text_Click here to like us…” _builder_version=”4.8.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_margin=”60px||||false|false” use_border_color=”off” global_module=”7394″ saved_tabs=”all” locked=”off” global_colors_info=”{}”]<\/p>\n Click here to like us on Facebook and see more updates like this.<\/a><\/strong><\/p>\nTYPES OF MULTI-INCOME PROPERTIES<\/b><\/h3>\n
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DUAL INCOME PROPERTY<\/b><\/h3>\n
DUPLEX<\/b><\/h3>\n
ROOMING OR BOARDING HOUSES<\/b><\/h3>\n
NDIS HOUSING<\/b><\/h3>\n
DEVELOPING YOUR INVESTOR STRATEGY<\/b><\/h2>\n