How buying an investment property can save you money and provide an income. It might seem challenging enough to buy one investment property, so why would you buy two? Well, while it might seem counter-intuitive to increase your borrowing, buying an investment property can help you pay off your mortgage sooner. Of course, it will often depend on your income and how your loans are structured, but an investment property offers benefits that help you pay off your loans sooner. Tax benefits The ideal scenario for an investment property is that it is what we call “positively geared’. This means that you receive more rental income than you need to pay off the mortgage and other costs such as property management. However, it’s unusual to find a positively geared property. Most investment property costs aren’t covered by rental income. To make up the difference, you need to top up that income from your savings. And this is where the tax… Read More
How to buy Australian property as an expat or non-resident
The ABC of buying Australian property as an expat or non-resident When you’re not living in the country (expat) or you’re being paid in a currency other than Australian dollars, it can prove slightly more challenging to buy property in Australia. Living abroad or being a temporary resident when purchasing property in Australia has a whole host of challenges, none of which are insurmountable. The trick is to know of them in advance to help you with your planning and to ensure that you have the right people on your team to make it happen. Follow our guidance to make sure you secure your loan. Top tips for expats buying property in Australia a. Get your paperwork in order This tip isn’t only for expats or non-residents; it’s for anyone who intends to apply for a loan. Most lenders want to see at least three months’ worth of savings, payslips and credit card statements. However, to give yourself the best… Read More
New Book: The Smart Borrower’s Roadmap
The gift that keeps on giving: my new book. If you’re like most of us, you’re more optimistic than ever that you’ll be able to own your own home or buy an investment property. But where do you start? Well, to help you out, I wrote a book. Quite a long book. The reason it’s so big is I wanted to pack in as much information as I could about buying property in Australia. But, I hear you ask, aren’t there many other books on mortgages and borrowing? Yes, there are, but they tend to be aimed at those on six-figure salaries with standard 9 to 5 roles. Frankly, these people don’t need too much help, although they’ll definitely pick up some tips for paying down a mortgage sooner. There are so many potential home owners out there who fall outside the spectrum within which lenders are comfortable lending. My book covers these home loan or investment loan borrowers and… Read More
