Investing in Melbourne’s eastern suburbs
Investing in property for the long-term
The first step in your journey is to understand the complexities of investing in property and putting your plan in place. Let’s look at some of the most common considerations.
Investment loan types
How are you going to finance your investment property? With all the changes in investment lending, this is probably the most important thing to think about, because it’s getting more and more complex. Should you go fixed or variable? Is interest only an option? Lyndal can look at your financial situation and guide you through the most suitable loan products for your investment goals.
When you buy an investment property, in the short term it will probably cost you money rather than make you money. That’s why we have negative gearing: you can offset what it costs you to hold onto your investment property against your personal income. This reduces your taxable income, which in turn can provide tax savings. Lyndal’s background in accounting is something her investment clients find very valuable.
Property investment should be for the long-term, so the area where you choose to invest is important. Look at things such as public transport and infrastructure. Is the suburb on a train line? Is the government spending money to improve the area? Are there good hospitals and schools close by? Again, these are all questions Lyndal can help you answer. Her experience in real estate can help you make the right decision.
Words of an Investor
After 2 ½ years of planning and VCAT delays approval for my duplex project was provided. The next challenge was going to be in financing the project.
I approached several brokers from the plethora advertising and suggesting that there was a product to suit my criteria. After spending several months talking directly with banks and the brokers I had still not found a financier that was willing to consider my project – due largely to differences on opinion on valuations and equity. After many months of negative feedback I was close to giving up on the project and walking away.
As a last ditch effort I decided to place an inquiry with Lyndal Linkin. Lyndal was very quick to follow up and had soon inspected the details of the project and required finance, after which she advised that she believed she would be able to find a suitable lender.
Lyndal was prompt and professional throughout the entire process and advised what information would assist our application in being successful. On Lyndal’s advice we compiled a portfolio of similar properties and recent sales which substantiated the property value of our project and which achieved a Total on Completion value that provided an acceptable LVR. It was also due to Lyndal’s extensive knowledge of financial products available and her portfolio of lenders, that I was able apply for a loan with which I could address all criteria successfully.
Lyndal ‘s attitude towards assisting me through this process was exceptional and she always provided clear and prompt lines of communication, through what can be a stressful process.
In the end Lyndal was able to secure finance for me through a bank and with an interest rate that makes the project even more feasible and manageable. Lyndal has provided an outcome which at one point I didn’t think would be achievable. This outcome will now provide myself and my family with much increased equity and the opportunity to further secure and leverage other property investments and developments in the future.
I am sincerely grateful Lyndal for your professionalism and commitment throughout the application process and for your sense of humour along the way, which made the journey much more bearable.
Andrew Casey - General Manager
Royal Canberra Golf Club