The Borrowing Side Of Property Investment
Property investment is a great way to create wealth, but the process requires a responsible strategy that adequately accounts for the financial demands of such ventures.
A chat with your mortgage broker may be the most effective way to determine if you are on the right path towards lucrative investment returns, but there are also some general rules to help you on your way.
For example, it is recommended that you review the terms of your loan regularly as your situation and the financial products available can dramatically change over time.
It is also advisable that you practise strict discipline with the types of add-ons you pay for with your investment loan - these extras can be significant in your payment totals.
Finally, you would likely benefit from a thorough calculation of the benefits of switching to another loan. Even if the cost is higher at first, a lower interest loan or a more sensible payment structure could save you heaps of money in the long run.
Your mortgage broker will be best at explaining these strategies to you and can help you navigate all of the different investment loan options out there.