I read last week that the fifth round of NRAS (National Rental Affordability Scheme) incentives will be released on the 7th of May ’13.
There are pro’s and con’s to the scheme with many clients concerned it’s social housing being put onto the private investor as opposed to the government taking full ownership. This is a difficult one to argue and I think only time will tell. There is one common thing we are seeing with NRAS properties though, and that is the developers / promoters are selling them at a premium. I can say this because we often find the properties don’t stack up when it comes to the valuation, with valuers saying the property is being sold for more than it costs to construct. Maybe keep this in mind when you’re negotiating on your NRAS property.
About the Author
Since 2008, David Thomas has built a business aimed at servicing the needs of property investors, owner occupiers and small business owners. David is recognised as one of the top 10 independent mortgage brokerages in the country, David and his team have settled almost billions of dollars worth of residential and investment loans over the last decade.
Known for his straightforward, relatable style, David believes by educating people about property funding; they fare better in the market. By sharing his expertise openly, some of the people he educates will likely become his clients. It's a win-win approach.
David Thomas is a credit representative (Representative Number 506153) of BLSSA Pty Ltd, ACN 117 651 760 (Australian Credit Licence 391237).