The notion of a perfect wealth builder is easy and straightforward, you need to buy one investment asset every year for, say, the next ten years.
If you are looking for more tax relief, you can start by buying two properties in one year.
Nevertheless, let us see what happened when you buy just one property a year.
The first thing is to get a reliable and competent buyer's agent who understands that you are into these investments for tax relief.
They will help you locate the correct property.
They should not have any conflict of interest and should be there to help you.
With the first step accomplished, it is now time to get to the real job - to find and acquire a good investment property.
Don't spend too much on it, maybe around $120,000-$150,000, to make sure that it attracts a wide range of people who will rent it, but is not at the low end either.
It is always better to acquire a property in areas which are up and coming.
Well constructed property will attract more people! An important point to remember is that your property should be in a good locale because it is a long term investment.
All you have to do is repeat the investment the following year and continue to do so for the next 10 years.
But remember to be very careful when you buy the property.
If you maintain your asset well it will be at your service for a long time and earn considerable tax relief.
This will need careful long-term planning.