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就像生活中的许多事情一样，完美投资组合的想法也是非常个人化的。这取决于你的目标，你的个人和财务状况，以及你能承受多大的风险。 这意味着，对别人有效的策略可能并不适合你。例如，一些人可能通过购买翻新和出售老房子而发财。其他人可能通过购买新房子并长期持有来赚钱。 建立房地产投资组合的方法有几十种，但有一种策略胜过所有方法:平衡。 不管你的情况、年龄或经验如何，平衡是一件可以帮助你实现利润最大化和风险最小化的事情。如果你想成为一名成功的投资者，这是你在投资组合中需要考虑的一件事。 什么是投资组合? 投资组合是由个人、信托或公司拥有的投资资产的集合。个人投资者通常居住在他们拥有的其中一处房产中，并将其他房产出租。 在某些情况下，他们在物业上赚取的租金收入超过他们的贷款还款;而在另一些国家，情况则有所不同。当租金收入大于投资性房地产的支出时，该房地产被称为正值杠杆;当它较小时，它被称为负扣税。 大多数人从事房地产投资的目的是建立一种收入流，无论他们是否去上班，都能稳定地流入他们的银行账户，因此正值杠杆通常比负扣税更可取。 但是，房东之间激烈竞争意味着，不可能总能挣到足够的租金来保持盈利。目前的法律允许投资者从应税收入中扣除投资房产的损失，所以负扣税也有一些好处。 一个平衡的投资组合是什么样的? 说到房地产，大多数投资者都有一个类似的目标:建立一个每月都能收回成本、同时价值持续增长的投资组合。 为了实现这一目标，你需要一些提供高租金收益的房产和一些承诺高资本回报的房产，因为很难找到同时提供这两种收益的房产。 前者通常出现在Geelong、Ballarat或Bendigo等地区和Cairns这样的旅游圣地，或任何吸引大量人口短期居住的地区，收益率最高可达7%。后者可以在理想的区域找到具有长期家庭吸引力的房产，并可以提供每年高达5-10%的资本增长。 还可以通过实行多样化政策来实现平衡。在不同的州购买房产将减少你在特定地区经济低迷时的风险，同时投资于住宅和商业地产将帮助你在这两个市场中抵御风暴。 我如何建立一个平衡的投资组合? 尽管条条大路通罗马，但每一位投资者都需要制定一条略有不同的路线，才能到达现金流为正、资本长期增长的情况。他们需要慢慢来，因为房地产是一项长期投资策略，而不是快速致富的计划。 《财富》杂志的联合主持人、金融咨询公司Empower Wealth的创始人本·金斯利(Ben Kingsley)表示，你应该采取的步骤最终取决于四个因素:你的收入、支出、财富目标以及达到目标的时间。 他表示:“这是一场金钱第一、资产第二的游戏，因为你的现金流决定了你可以套取多少盈余资金。” “你的盈余越多，你的借款能力就越强——一旦你拥有了这种借款能力，你就可以为房地产融资。” 1. 从最终目标开始工作 你需要设定一个目标，这样你就有目标了。这将确保你的投资策略是集中和结构化的，当你需要做一个艰难的决定时，它会给你一些参考。 这就是为什么金斯利说，设定一个最终目标应该是你投资旅程的第一步。 到你退休时，这个目标可以是每周2000澳元的被动收入，或者每年10万澳元。或者与你的总体财富直接相关的东西。 “然后你会问自己，‘我需要多少资产才能做到这一点?’”而你采用的策略以及你拥有的时间将决定你需要投资哪些价位和房产类型，以及投资第二套或第三套房产需要多少时间，”他说。 
2. 首先关注收入 尽管澳大利亚房地产市场很多样化，意味着在不同的价位都有投资机会，但投资者需要有足够高的收入来付首付和偿还贷款利息。 这意味着潜在的投资者要么等到赚到足够的钱来消化低收益、高资本增值房产的租金损失，要么一开始只投资于高收益、低资本增值、能增加收入的房产。(你可以在我们的页面上查看每个区域郊区的租金和收益率中值，找出哪些地区提供这类房产。) 这样一来，他们就不会为偿还贷款而苦苦挣扎，之后就可以利用增加的收入从银行借更多的钱。 “如果我们的家庭月度盈余真的很强劲，那么我们通常会首先购买其中一到两处较强劲的资本增值资产。然后当我们拥有第三或第四处房产时，我们可能会为第三处选择平衡资产，为第四处选择摇钱树，这样就能使投资组合更加丰满，帮助偿还债务。”金斯利说道。 “因为你建立投资组合的最终目的是靠被动收入生活。所以，当你经历积累阶段，达到债务的顶峰时，你就得努力还清债务，靠自己创造的租金生活。” 3.购买具有较强自住吸引力的物业 这背后的逻辑很简单:自住者占了市场的70%，因此购买只吸引投资者的房产将大大限制你的资本回报，因为对这些房产的需求将会降低。 金斯利认为，房地产需要具备“个性和魅力”，而且要坐落在“高地位、舒适、宜居”的地区，才能带来真正良好的资本增长。 他表示:“这是因为人们购买这些房地产是用心而不是用脑，所以随着时间的推移，就资本增长更为强劲而言，它们的表现确实优于投资者的股票。” 你的投资组合里应该包括什么? 如前所述，这取决于你在投资过程中的位置，你的个人和财务状况，以及你想要实现的目标和时间。 如果你是一个新手投资者并且处于平均收入的时候，你会想要购买现金流为正或中性的房产，以帮助轻松进入这个市场。 同样值得注意的是，首府城市外围的老房子通常能以较低的价格获得较高的租金收益，而且通常较老的房子通过翻修提供了大量增值的机会。这意味着你可能同时享受租金收入和资本增长。 什么不应该在你的投资组合里? 虽然这个问题的答案在很大程度上取决于你的个人财务状况和目标，但金斯利表示，一般来说，避开投资者房源是明智的，因为转售市场对资产真的没有兴趣”。 这些都是高层公寓大楼里的典型单元房，几乎没有什么特色。 “如果它是一个单元房，确保它在一个小街区里，它的位置很好，它是四个或六个单元房之一，”他说。“这些拥有更低的持有成本、更高的需求，而且较少受到供应过剩的影响”。 How to build the perfect property portfolio
Like many things in life, the idea of a perfect portfolio is highly personal. It depends on your goals, your personal and financial situation, and how much risk you can handle.
此文章出于 <Nila Sweeney, May 30 2019> This means that what works well for others may not be the right strategy for you. For example, some people may have made a fortune by buying older properties that they have renovated and flipped. Others may have made money by buying new houses and holding over the long term. There are literally dozens of ways to build a property investment portfolio, but there’s one strategy that trumps them all: balance. Regardless of your situation, age or experience, balance is the one thing that can help you maximise your profit and minimise your risk. It’s the one thing you need to factor into your portfolio if you want to succeed as an investor. What is a property portfolio? A property portfolio is a collection of investment properties owned by an individual, a trust or a company. Individual investors typically live in one of the properties they own and rent out the others. In some cases, the rental income they earn on a property is greater than their loan repayments; in others, it is less. When the rental income is greater than an investment property’s outgoings, the property is said to be positively-geared; when it is less, it is said to be negatively-geared. Most people get into property investment with the aim of setting up an income stream that steadily flows into their bank account whether they turn up to work or not, and so positive gearing is typically preferable to negative gearing. But high competition among landlords means that it’s not always possible to earn enough rental income to keep in the black. And current legislation allows investors to deduct losses made on an investment property against their taxable income, so negative gearing has some perks, too. What does a balanced portfolio look like? When it comes to property, most investors have a similar aim: build a portfolio that pays for itself each month, whilst consistently growing in value. To achieve this, you need some properties that deliver high rental yields and some properties that promise high capital returns, as it’s rare to find properties that offer both. The former can typically be found in regional working cities such as Geelong, Ballarat or Bendigo, tourist meccas like Cairns, or in any other areas that attract large numbers of people to live on a short-term basis – and can offer yields up to 7%. The latter can be found in aspirational suburbs with long-term, family appeal, and can offer capital growth of up to 5-10% per annum. Balance can also be achieved through pursuing a policy of diversification. Buying properties in different states will reduce your exposure to location-specific downturns, and investing in both residential and commercial property will help you weather storms in either market. How do I build a balanced portfolio? While all paths lead to Rome, each investor will need to chart a slightly different course to reach the promised land of positive cash-flows and long-term capital growth. And they’ll need to take their time, as property is a long-term investment strategy, not a get-rich-quick scheme. According to Ben Kingsley, co-host of the Property Couch and founder of financial advisory firm Empower Wealth, the steps you should take to get there ultimately depend on four factors: your income, your expenses, your wealth target, and the time you have to reach it. “It’s a game of money first, assets second – because your cash flow determines how much surplus money you can trap,” he says. “The more surplus you trap, the higher your borrowing power – and once you have that borrowing power, you can then finance a property.” 1. Work back from an end goal You need to set a target so that you have something to aim at. This will ensure that your investment strategy is focused and structured, and will give you something to refer back to when you need to make a difficult decision. Which is why Kingsley says setting an end goal should be the first step in your investment journey. This target could be a passive income of $2,000 a week, or $100,000 a year, by the time you retire. Or something more directly related to your overall wealth. “You’d then ask yourself, ‘how many properties do I need to achieve that?’ And the strategies you adopt and how much time you have will determine which price points and property types you will need to invest in, as well as how much time it will take to get into your second or third property,” he says. 2. Start by focusing on income While the breadth of Australia’s property market means there are investment opportunities at a wide range of price points, investors need a high enough income to put down a deposit and service the interest repayments on their loan. This means that would-be investors either need to wait until they earn enough money to absorb rental losses on low-yielding, high capital-growth properties, or initially only invest in high-yielding, low-capital growth properties that boost their income. (You can find out which areas offer these types properties by looking through each suburb’s median rents and yield on our neighbourhoods pages.) That way, they won’t struggle to service their loan, and can later leverage their increased income to borrow more from the bank. “If we have really strong monthly surpluses in the household, then we would usually buy the stronger capital-growth assets first. One or two of those, and then when we get to our third or fourth property, we might move to a balanced asset for the third and a cash cow for the fourth, just to round out the portfolio and help retire the debt out,” says Kingsley. “Because ultimately the reason why you build a portfolio is to live off the passive income. So as you go through your accumulation phase and reach your peak debt, it’s then all about trying to retire that debt, and live off the rent roll that you’ve created for yourself.” 3. Buy properties with strong owner-occupier appeal The logic behind this is simple: owner-occupiers make up 70% of the market, and so buying properties that only appeal to investors will greatly limit your capital returns, as demand for these properties will be lower. According to Kingsley, properties need to have “character and charm”, and be located in areas with “high status, good amenity and great liveability” to deliver really good capital growth. “That’s because people buy those properties with their hearts not their heads, so they really do out-perform investor stock in regards to stronger capital growth over time,” he says. What should be in your portfolio? As mentioned, this depends on where you are in your investment journey, what your personal and financial situations are, and the goals you want to achieve and when. If you’re a beginner investor and on an average income, you’ll want to buy cash flow-positive or neutral properties first to help ease into the game. It’s worth noting, too, that older houses in the outer fringes of capital cities generally achieve higher rental yields by virtue of their lower price points, and their typically older stock offers plenty of opportunity to increase value through renovations. Which means you might get to enjoy both rental income and capital growth. What shouldn’t be in your portfolio? While the answer to this question largely depends on your personal finances and goals, Kingsley says it’s generally advisable to steer clear of “investor stock, because there’s really no appetite of asset in the re-sale market”. These are typically identikit units in hi-rise apartment towers, with few distinguishing features. “If it’s a unit, make sure that it’s in a small block, it’s well positioned, and that it’s one of four or one of six,” he says. “These have lower holding costs, higher demand, and are less exposed to oversupply”.
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