Property Finance

Consider the way your investment property is financed.

Avoid using a bank or just an average mortgage broker, as your options may be more limited.

I would strongly suggest speaking with an independent finance strategist, they will be able to work in your best interests.

The most obvious thing to do initially is to see if they can find you a better interest rate.

In addition, it may be wise to discuss how the loan is set up to see if that would make a difference.

Are you paying Principal and Interest repayments or Interest Only on your loans?

Remember your priority is to hold this asset for the longer term.

Switching to interest-only repayments may reduce your repayments to cover the shortfall to avoid an unnecessary sale.

You can always switch back at a later stage, perhaps when rents have also risen higher.

RealRenta has all the tools that a property manager has but for less than ¼ the cost of a property manager.

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.

Jason Gwerder
Thursday, 20 July 2023

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