NRAS
This article in
Property Observer
points out that the new federal budget includes within in the cancellation of NRAS. This is a double edged sword. NRAS on a well purchased and researched property is useful for cash flow. Some people were foolish enough to buy a property just because it had NRAS, not because of it having important elements necessary for an investment property to be a lower risk purchase.
Some developers have been screwing people over by charging 10-20k for this NRAS scheme, so it is good this tool wielded by some developers to rip people off is taken from their hands. Fantastic.
However, it is an opportunity lost for investors. The remaining licenses are tainted with the risk that they have been loaded by 10-20k. It may be difficult to tell if they have or not and the desperation of some investors to obtain an
NRAS
property is creating a feeding frenzy, motivating most spruikers and many developers to be more inclined to rip people off.
http://www.propertyobserver.com.au/financing/31232-national-rental-affordability-scheme-fifth-round-will-not-proceed.html
