I own my own property but want to buy another property and rent it out. I want to know the best way to finance it without it costing me too much and the best way for me to maximise profits. any advice would be appreciated.
Welcome to the forum.
Unfortunately such a question is so general it is impossible to answer.
In general the best way to finance it is through a lender with a 20% deposit sourced from your home loan.
I would need to talk to you before giving any specific advice.
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Welcome to the forum reneek.
Contact some of the brokers on here.
How to maximise profits?
I remember the words of the famous investor ‘Warren Buffett’.
He says there are only two rules in investing.
Rule no. 1 Don’t lose money!
Rule no. 2 Don’t forget rule no. 1!!!
You will now be flooded with private messages from brokers and they will all give you great yet conservative views on investing. Maybe if your home is worth $250k you can borrow $200k. Some may say dont do that, but if you can find and buy 10 x $200k investment properties and use $20k for deposits on each, your portfolio and your future expectations will change dramaically.
Think outside the square most live in.
DD
Don’t sweat the small stuff,and it’s all small stuff!!
Originally posted by DD:You will now be flooded with private messages from brokers and they will all give you great yet conservative views on investing. Maybe if your home is worth $250k you can borrow $200k. Some may say dont do that, but if you can find and buy 10 x $200k investment properties and use $20k for deposits on each, your portfolio and your future expectations will change dramaically.
Think outside the square most live in.
DD
Don’t sweat the small stuff,and it’s all small stuff!!
How can you say all broker will give you conservative advice. broker even can’t give advice.
Cheers
PropertyGuRu [sultan]
Mortgage Consultant
[email protected]NZ loans and pre approval from 7.99%
Originally posted by DD:You will now be flooded with private messages from brokers
DD
Hi DD,
Apart from the professional lurkers, I would be very surprised if any of the Mortgage Brokers who contribute regularly to this forum would contemplate sending unsolicited private messages & e-mails.
Anyone being bombarded by hawkers should contact admin. Cheers.Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Maybe if your home is worth $250k you can borrow $200k.
Think outside the square most live in.
DD
I would love to know how you can quote a loan size of $200K over a value of $250K when you don’t know reneeks income etc?
Such flippant advice is dangerous and certainly isn’t what someone new to investing needs to hear.
As I mentioned earlier Reneek needs to disclose more financial detail before information on borrowing ability can be assessed.
Kind regards,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.85%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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