Why become a Rentvestor?
July 01, 2016
LJ Hooker recently surveyed rentvestors to find out why they chose the strategy as part of their wealth accumulation plan.
A rentvestor is someone who owns a property but uses it as an investment property while renting elsewhere, themselves. There are various reasons as to why people choose to do this.
LJ Hooker found 43% of surveyed rentvestors did so because of work or study.
As expected, this group owns an investment a considerable distance from where they rent. The survey showed that 38% of this group own a property in another state; another 20% own a property within their same state, but 100 kilometres or more away.
Those rentvestors that purchased an investment property closer to where they live tend to have done so because of their investment strategy. In total, 31% of respondents to our survey are rentvestors because they see it form part of their investment choices. Overall, 77% of those who rentvest for capital growth own a property between 5 and 20 kilometres from where the rent.
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