Finance is the leveraging tool to help
you get into the property, and property will be the vehicle that will create
your long-term wealth.
So it is important to have a finance
strategy part of which is a finance pre-approval.
This means that a lender has agreed, in
principle and in writing, to lend you an amount of money towards the purchase
of your property, but this will still be subject to certain conditions
including the exact property that you will be planning to buy.
Obviously, it's vital that you have
your finance pre-approved before starting your property search so that you
understand your budget and you are able to take prompt action if and when you
find the right property.
Some of the advantages of a loan
pre-approval for property investors are:
You'll know exactly how much you can
You’ll be able to make a firm offer on
You know what your repayments will be
and therefore your cash flow
Your final loan will be organised
There's no cost to you
Be wary of any website that offers you
a pre-approved home loan without taking the time to assess your financial
It should go without saying that unless
a lender has fully assessed and approved your financials, any ‘approval’ you
get may not accurately reflect what you can actually borrow.
RealRenta has all the
tools that a property manager has but for less than ¼ the cost of a
Join now and the cost
is less than a cup of coffee a week to manage your rental property
RealRenta also has a
free vision, so why not check it out
Wednesday, 1 June 2022