Yep it has been a tough year – good news less than 100 days till 2021
Yep it has been a tough year - good news less than 100 days till...
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Thinking about property investment but not sure
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Our free Investor Starter Kit is packed full of valuable and hard to find information – from Property Investment 101 to handy spreadsheets, videos and other tools you can use right now to expand or begin your property portfolio.
More than just mortgage brokers we provide detailed analysis, options and education packages – suitable for home owners and investors - to assist everyone on their journey to financial freedom.
Learn how much you can borrow, which areas you can afford to buy in, their capital growth in the last 10 years and view a map featuring all the properties in that area currently for sale.
All free to use anytime, anywhere.
The reality is that today most first home buyers are not purchasing a home that will be their home forever. In most cases your first home is just a stepping stone into the property market. If purchased correctly it could be the foundation to your future wealth.
It makes sense then, to find the right property and set up the right finance structure so you can take your first step towards achieving your long-term goals confidently and with all the flexibility that you need.
However next time around you want to be more savvy concerning where and how you buy your next home. As well as assistance in financing your next home purchase, you would also like guidance on how and where you should buy so you can make your home - your biggest asset - really work for you.
There are so many confusing messages when starting out. Should you look at positive cashflow or capital growth or can you have both? Should you buy regionally or around the corner so you can keep an eye on the property? These questions – and many more – is what every investor grapples with when they start buying. At Investors Choice Mortgages we offer you a process that can assist you in your considerations.
Let’s face it – if you have more than one investment property this puts you in a rare group of just 10% of all Australians.
You may have struggled with the capital growth versus passive income argument and considered commercial property as the next step. So now what?
Whether you are refinancing for a better product or interest rate, to consolidate debt or even to access equity to make another purchase or complete a renovation - whatever the reason - at Investors Choice Mortgages we will look at your current lender and look at if refinancing to another lender is even necessary.
We at Investors Choice Mortgages work hard to set a new standard in helping Australians identify and acquire top performing properties.
Combining detailed analysis of mortgage options with up-to-date information, individual property reports, investors reports, educational videos and dedicated online courses to suit home buyers, first home buyers, investors or experienced investors, we actively assist our clients every step of the way.
We’ve helped thousands of Australians purchase their first home, first investment property and, in many cases, secure their 2nd, 3rd or 4th investment property and we’re ready to help you get there too.
Jane Slack-Smith Director
Develop and grow your own property portfolio with a range of courses designed to have you reaching your property investment goals.
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Yep it has been a tough year - good news less than 100 days till...
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I am often asked should I sell my home before I buy my next one - well life doesn't always work out how it should and sometimes you just find...
read more >
Applying for a mortgage for your first home is scary. You’ve been saving your deposit forever. You’ve prepared the paperwork and sent it to the...
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#icm #investorschoicemortgages #mortgagebroker #review
Two ways of getting pricing disparity #sourceit
I think there's a lot to be said for perseverance when you’re purchasing. It's like you knock on so many doors and you get slammed in your face and then eventually one gets opened.
It's a bit like that with property deals: if you search long enough and hard enough, you'll get a good deal but it takes a bit of effort. And that pricing disparity, you can overcome that in two ways.
One is finding a suburb that's got that big stretch of values, which is naturally higher in the market at a higher price point and higher median. Or you can buy under market just by either seeing a higher and better use that everyone else doesn't see, or getting a good deal by being in the right place at the right time.
If you'd like to know more about renovation and how to save you time and make you money, download my ebook Renovation tips and tricks investorschoice.com.au/renovation-tips-&-tricks
Vision is the first step on my financial freedom framework #seeit where you should planning your goals over time to act!
#quote #financialfreedomframework #buyinghome #propertyinvestment #realestate
Doing a lot of the work yourself is a good and sometimes necessary way to save money, which in effect creates equity, which is why it’s commonly referred sweat equity.
Gaining hands-on experience is a great way for understanding the renovation process and can put you in good stead in your future role as project manager.
But like any other cost decision made in a renovation project, deciding to do the work yourself, should take into account the pros and cons.
Pros:
• Save money
• Gain experience
Cons:
• Project management and schedule suffers
• Sourcing material under retail price suffers
• Failure to put $ amount on own time
On one project, a 3-storey terrace in Melbourne, I decided to take on all of the painting myself, this would save me thousands and how hard is painting; right?
So every morning from 6.30-7.30am before work we would get through as much of the painting as we could and then go off to work for the day.
Every evening we would start painting again from about 730-11pm. we then spent our entire weekend painting 15-20 hour in total. This went on for three whole months and I was exhausted!
So when it came time to paint the identical terrace next door, we decided to use a painter. It took one painter 5 days and cost $4000. This marked the end of my painting career (unless forced).
Other things to consider:
• How much will the delays cost (holding cost or rent lost)
• Will the quality of the work be adequate to achieve a high perceived value
The DIY Trap
Some other downsides to doing everything yourself, is it’s hard to manage other parts of the renovation, such as organising the tradespeople and getting things ready for them to start.
Keeping track of the budget on a daily basis is also difficult. And you simply don’t have the time to run around to source all of the supplies for under retail prices.
So you need to be aware, that while you may be saving money on tradespeople, you may be losing money in other areas.
Tell us about your own experiences or comment below if you have any questions
And make a time if you want to talk to one of our experts www.investorschoice.com.au/bookatime
Just remember we got this, together we can overcome anything, even a nasty flu plague
A positive cash flow property portfolio alone will not get yo to your passive income goals.
Even if you manage to achieve a positive cash flow from a property; it may only amount to a few dollars a week.
Even five properties would not necessarily get you a significant income that you could count on for a desirable passive income in retirement.
"You need cash flow to help you keep and grow your portfolio, and capital growth to exit your portfolio and live the lifestyle you want"
Make a time to talk with one of our mortgage broker experts for more information investorschoice.com.au/bookacall
#mortgagebroker #cashflow #propertyinvestment #capitalgrowth
Repaint Kitchen?
Can we keep and repaint the cupboards and benchtops?
It is really easy to get carried away at the start of a renovation and rip everything out, which can be very expensive.
I’m not suggesting that you be stingy or try to do everything as cheaply as possible; this will look cheap.
Adding Bang for Buck we are, rather, interested in spending money where it can be most seen, on items that give our property the highest perceived value possible, within the budget.
And it's through this lens you will increasingly view all of your renovation decisions as you gain experience.
Feel free to book a time to talk with one of our experts investorschoice.com.au/category/blog/
#homerenovation #repaintkitchen #propertyinvestment
I am often asked should I sell my home before I buy my next one - well life doesn't always work out how it should and sometimes you just find the 'dream' home before you sell - so what to do? Check out my article for Canstar www.canstar.com.au/home-loans/buy-sell-house-same-time/
How to Buy and Sell a House at the Same Time | Canstar
www.canstar.com.au
Buying and selling a home at the same time is poss...Have you considered being your own boss?
There are many reasons why people take the leap and become self-employed.
You take full control of your career and get to escape the humdrum of the 9-to-5. It sounds like an amazing opportunity, right?
And if you get it right, you may earn more on your own than you’d earn with a regular job in your industry.
Unfortunately, your self-employment may cause you to struggle when you’re trying to get a loan for your first home.
Recently, clients of mine decided to become business owners, and managed to turn a small profit.
Still, those first six months showed much potential. They chose to stick with it - a decision that paid off in their first full year of business.
They increased their profits by 142% in 12 months. Now financially stable, and with 18 months of experience under their belts, they felt confident about going to a lender.
They wanted to get a home loan so they could start to grow a portfolio.
But their lender rejected them.
They'd been self-employed for less than two years. Worse, the lender would not accept their figures for their most profitable year alone.
Instead, they wanted an average between that year and the first six months of the business.
Investors Choice Mortgages knows the ins and outs of lending policies and which ones will suit you. We can help you set your lending up correctly to not only work for you now but for your long term plans. Getting this wrong could set you back years.
Make a time to discuss your options with our dedicated team today, just book a time here for your complimentary call calendly.com/icm-discovery-call/fhb
