Newspaper article The Daily Mercury (Mackay, Australia)

Apply Business Approach; LJ Hooker Mackay Co-Owner Des Besanko Says Investors Should Take a Business-Like Approach to Buying and Managing Investment Properties. Use Your Head, Not Your Heart

Newspaper article The Daily Mercury (Mackay, Australia)

Apply Business Approach; LJ Hooker Mackay Co-Owner Des Besanko Says Investors Should Take a Business-Like Approach to Buying and Managing Investment Properties. Use Your Head, Not Your Heart

Article excerpt

With falling interest rates, a buyers' market and turbulence in the stock market, many investors are turning to property. But how do you pick a good one? The trick is to use your head, not your heart.

LJ Hooker Mackay co-owner Des Besanko says investors should take a business-like approach to buying and managing investment properties.

"More than ever now we're back to basics," Mr Besanko said. "People should look at property investments for income streams and long-term capital growth opportunities. We are lucky that the Australian taxation system also allows negative gearing. We are only one of a few countries in the world to have this, thereby making property investment tax-effective."

Mr Besanko recommends investors buy properties in an affordable low-to-medium rental range.

There would always be demand for rental homes in this range, whereas there was a "thinner" market for higher-priced rental properties, he said.

"People that are renting are looking for a home - they look for the same things as those who are buying a home. …

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