What Barriers Do First Home Buyers Face When Both Inflation and Rates Rise
When inflation climbs and interest rates follow, the first home buyer barriers that were already steep become near-vertical walls. It is...
Should I Get a Renovation Consultant and Manager? #Supersizeit
If you did want to get a renovation project manager in because it’s your first project, I guess you could pay for project management which would be around about 10% of the renovation cost.
Adding value comes from understanding what you’re renovating up to, the target market – all of that stuff that we teach.
The actual carrying out of the work isn’t that difficult once you know what you want to put in there. You’re better off paying for someone like a renovation consultant who’s got experience in flipping or property investing.
Find a consultant that has an eye for the investor space.
Look for someone who will do that and actually match to the market, match to the demographic, and match to what the renovated fixtures and features of properties that have been renovated for sale showing.
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 https://investorschoice.com.au/renovation-tips-&-tricks
#supersizeit #propertyinvestment #firsthome #mortgaebroker #renovation #homereno
Just remember we got this, in case you just need a cheer squad – and some days are like that know we are here to cheer you on
Every renovation decision that you make should be strategic and quantifiable.
So it’s not doing it for yourself, [that’s not strategic] it’s emotional. It’s based on your wants or what you like.
But strategic renovation is making that change or making that improvement because it strategically adds value to the property and value that you can quantify.
You look at another comparable property at the renovated level and that’s the standard you’re renovating up to.
Strategic is part of a long-term game plan. If I think of a strategic exercise or strategic plan, I think of each component has its place, but it all contributes to the end goal…
It’s around having that strategic action plan that says: ‘Where am I going to spend my money? Where am I going to get the best value?’ And it’s almost looking at that cost benefit analysis for every single decision.
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 https://investorschoice.com.au/renovation-tips-&-tricks
#supersizeit #renotips #renovation #homerenovation #propertyinvestment #firsthome
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 lender.
Your fate is in their hands.
So many aspects can lead to rejection.
That’s what Tom and Sally discovered.
They rented while saving to buy their first property.
They thought a few years of renting and saving would set them up perfectly to buy their first property.
For over three years, they made every rent payment on time.
They were model tenants.
But one oversight halted their plans.
The couple decided to treat themselves to a holiday in January.
Sadly, they forgot to transfer their rent money from their savings into the main account.
The money came out of the account on Monday and made it overdrawn.
Their rent went into default.
They resolved the issue when they got back home.
But, when they wanted pre-approval on their first home loan, the lender said no.
They cited poor rental conduct.
Luckily for Tom and Sally, they managed to resolve the issue.
But not everyone has such an understanding lender.
Their story shows that you have to account for every little detail when applying for a mortgage.
Lenders check every aspect of your history.
Something as small as a single missed payment could ruin your plans.
We want to ensure that this doesn’t happen to you.
And to do that, we aim to make it as easy as possible to get your first mortgage.
We’ll show you more about the grants that are available to you and how to get your first property faster.
Join our First Home Buyer Facebook community to learn more about the framework
https://www.facebook.com/groups/firsthomefirstinvestment/
Sometimes it is important to just remember the simple things
When inflation climbs and interest rates follow, the first home buyer barriers that were already steep become near-vertical walls. It is...
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