Certainly, reaping the benefits of property growth may become more challenging as you grow older, but it is never too late to capitalize on opportunities. Even in your 60s, there are ways to bolster your retirement funds. Utilizing a self-managed super fund provides an added advantage, allowing you to leverage your finances and potentially acquire a property that generates substantial weekly cash flow, ensuring financial security throughout your retirement years. Do not assume that age or financial status puts you out of the game.
When it comes to property ownership, the key lies in having a high land-to-asset ratio. However, it's essential to recognize that not all land holds the same value. I would prefer owning a fraction of land beneath an apartment building in an upscale suburb rather than vast acres in regional Australia. The property's desirability, demand, and location are crucial factors in its success.
Location plays a significant role in the performance of your investment property, doing most of the heavy lifting. But for the location to be truly beneficial, it should boast essential amenities, excellent infrastructure, and proximity to schools, shops, and hospitals. It should also attract a demographic that continually contributes to the suburb's improvement and revitalization, ensuring its sustained growth in the future.