My Success Stories – Investors
Does this sound like you?……
Sally & Jamie had been in their home for about 10 years, and they knew that it was now worth more than they had paid for it. They had also been diligently paying off their loan over the years, so they had created great equity in their home. Their youngest child had just started their final year at private school, so they also knew that without school fees, their Cashflow was about to improve. They had heard lots of people talk about the benefits of investing in property, and were keen to use their equity and Cashflow to grow their wealth.
What was their challenge?
Where to start? How much would their budget enable them to repay? How did they use the equity in their home to buy an investment property.
I sat down with Sally & Jamie, and showed how they could use the equity in their home to enable them to borrow enough to cover the full purchase price & costs associated with buying a property. We then worked out how much they could comfortably afford to repay off a loan each month, taking rental income and expenses into account. This led to a definite maximum price that they were prepared to pay for any investment property. All they had to do was to find the right place….
They bought a townhouse in Queensland that was rented out to a long term tenant. We set up a separate loan for them to make it easy at tax time. We also set up an offset account, where the rent goes into, the expenses are paid from, and they deposit a set amount each month to cover the shortfall. Their accountant loves the simplicity and clarity of the financial records, and their financial planner is happy that they have taken a positive step towards building a retirement income stream.
What the client said
We were offered a private sale for a family friends house and needed to get up to speed at short notice with information on buying an investment property as well as securing a loan.
Ready to get started…Call me on 03 9576 7255 or request a mortgage adviser session with me.