There have been lots of changes in the financial industry of late including interest rate drops and changes to loan serviceability. These are all positive things for property investors. Interest Rate Drop In its latest meeting, the Reserve Bank dropped interest rates to a record low by cutting the cash rate by 0.25%, bringing it to a record low 1%. Following last month’s cut, we saw an action-packed few weeks in which 44 [...]
Buying property is an exciting journey and personally rewarding. Having a good deposit – the more savings or equity in other property you have is a bonus, but the reality is that most of us need to borrow money to achieve the property goal. Being savvy can help you make decisions confidently so here are a couple of common questions I get asked. Does A Cheaper Interest Rate Save You [...]
I will be forever grateful to my Dad for introducing me to the world of property when I was just 18yrs old. I don’t think he quite realised at the time what an extremely powerful opportunity he was presenting which has allowed me to go on and create a much better financial future for myself than he could have imagined at the time. I guess you could say my Dad [...]
The year was 1993, I was 18 years old and Dad helped me purchase an investment property with some friends after I’d received an insurance payout from a car accident I was involved in when I was just 11. A few years later, I began a 10 year stint in London and Mum’s worst nightmare come true. I fell in love with an Englishman! After purchasing an old house we [...]
According to RP Data and the Census Data from 2011 only 7.9% of Australians own an investment property, even though property is a national past-time. And only 0.068% own six or more investment properties. A lot of people are overwhelmed by the process and quit before they even begin but it doesn’t have to be hard. The reality is that investing in property is relatively straightforward when you work with [...]
No matter where you are on your financial journey you need to know it is possible to turn your financial life around. Making small changes in your life can fatten your savings and help you budget better. Follow these tips to save more money. Change One Habit and Save Using a Budget is Beneficial Use a Savings Goal Calculator Reduce Your Bank Fees Be Conscious About Money Change One Habit [...]
So, you’re thinking about investing in property to create wealth for yourself but you’re not entirely sure how the money side of things works? That’s OK. It might seem a touch confusing but really financing on a mortgage basis is quite straightforward. Let’s take a quick look at what you really need to know: You Need A Deposit A deposit is a percentage of the purchase price that you will [...]
As a property investor, you're probably constantly looking for ways to improve your knowledge and stay ahead of the game. One of the most effective ways to do this is by reading books. In fact, reading is one of the most important habits that any successful property investor can adopt. Here are a few reasons why: Gain New Perspectives and Ideas Reading books can help you gain new perspectives and [...]
I’m always surprised when people are surprised at how their lives have turned out. Those that don’t plan for their future almost always seem to be surprised, like they were expecting something different… Rules are meant to be followed. Your own rules, that is. Not everyone else’s. Decide for yourself what rules you want to create for yourself and then just follow those. The problem with life is that you [...]
Life is full of financial decisions, some complex, some simple, but all with the potential to make a real impact on your life. Today we’d like to focus on some financial choices you’re likely to regret in 10 years, if you don’t do something about them now. We’d like to save you from the pain and the heartache that occurs when people make these decisions. Put these on your not-to-do [...]
