Is it possible to earn financial freedom with today’s rising cost of living? Prosba’s Joshua Meli says ‘Yes’!
If you already own your home in Canberra, you could be sitting on a goldmine of home equity that can be utilised to purchase low-risk property investments.
And even if you don’t own your home, you can start working towards financial freedom, with the help of a well-informed investor Buyer’s Agent (BA).
CW sat down with Joshua, an up-and-coming investment BA helping Canberrans to purchase properties Australia-wide.
Growing up immersed in his family’s construction business, it didn’t take long for Joshua to notice a gap in the market for investment BAs with building expertise.
He knew that providing ongoing guidance on strategic property investments meant understanding the structural integrity of the home, as well as how to add value for a higher return on investment.
Today, the most rewarding part of Joshua’s job is seeing his clients achieve their passive income goals and start living a time-rich life that they had previously only ever dreamt of.
When is the best time to purchase an investment property?
“As I always say, yesterday was the best time, but today will do,” Joshua says.
“In this new age of technology, everyone has the ability to work from home. So, people are selling from these central areas like Gold Coast and Sydney, and moving to more regional locations where they can live on the beach, right next to schools and amazing restaurants for half the price.”
If the last few years has taught us anything, it’s that technology is one of the only industries that’s never going away. Joshua says that when purchasing a property, it’s important to move with the evolution of tech, rather than against it.
He says that while the housing crisis is taking over massive metropolitan areas, there’s an untapped market of low-risk properties in regional towns.
“The locations I buy in for my clients have always had consistent growth, even dating back 10 – 20 years ago. I don’t see a decrease in overall value within the near and distant future for multiple reasons including the large mass of infrastructure projects, the strength of employment and the amazing lifestyle in these locations.
“Now is the best time to purchase in these areas, no matter the market.
“However, it’s understandable that when heading into a market like this, you want all the best data in front of you. That’s where having an informed Buyer’s Agent comes into play.”
You won the REIACT Rookie of the Year award in 2019. Is investing in properties also on the table for young Canberrans?
“One of the reasons why I’m so passionate about this is that, as young guy myself, I’ve made multiple successful investment purchases, dating back to when I was 19.
“I 100 per cent want to have that young investor focus, all the way up to older Canberrans who may be looking to use some of their self-managed superfund to purchase properties so that they can have a more enjoyable retirement.
“This market is for everyone, from young 20s to retirees. That’s why I focus on affordable properties, where the entry to market is as low as $50,000,” says Joshua.
“The current mentality of young Canberrans is that you need to buy in your backyard – ‘Buy in Canberra because that’s what you’re familiar with.’ But the entry to market here is sky-high.”
What are the top benefits of diversifying your investment portfolio into regional areas?
“Whenever anyone hears ‘regional town,’ they automatically think ‘mining town.’
“But there are regional towns that have very diverse economies, heaps of employment, and are just really nice places to live.
“There’s a mentality that these areas are just not going to be good investment opportunities, when it’s actually the complete opposite,” says Joshua.
“Canberrans on average have a huge amount of equity in their homes and this can be utilised to purchase investment properties elsewhere, which isn’t talked about enough.
“But from what they hear on the news, they have to purchase in central areas like Sydney and Canberra, where it’s almost impossible to purchase an effective investment property.
“In the central areas, you’re having to fork out a load of money annually just to hold onto these properties, when you can make the same amount of capital growth in regional towns while having great cash flow as well.”
Every journey to financial freedom starts with expert guidance.
If you’re ready to make a secure investment, work towards early retirement, and build long-term wealth, book a 15-minute discovery call with Joshua today.
Visit prosba.com.au for more information.
