Investment loans
Thinking about an Investment property?
If you have savings or usable equity in your current property but aren't sure how to make the most of it, have you considered purchasing an investment property? This is a great way to grow your property portfolio and potentially create an additional income stream.
Before purchasing an investment property, we recommend conducting thorough research. Look into factors like the rental demand (vacancy rate) in the area, the average or median rental price, the property's age, and whether it might need repairs or renovations in the near future. This will help you budget for your repayments compared to expected rental income, as well as any upcoming expenses.
Before purchasing an investment property, we recommend conducting thorough research. Look into factors like the rental demand (vacancy rate) in the area, the average or median rental price, the property's age, and whether it might need repairs or renovations in the near future. This will help you budget for your repayments compared to expected rental income, as well as any upcoming expenses.
All expenses related to the investment property are tax deductible. A positively geared property can increase your cash flow and make it easier to manage your loan repayments, but any net rental income will be subject to income tax. On the other hand, a negatively geared property allows you to offset any net rental losses against other income you make, reducing your taxable income and the amount of tax you owe. However, you will need to cover any shortfall in expenses from your other income sources.
It’s also important to ensure you can afford the property using only your current income if the property remains vacant for a period of time or requires major repairs, unless you have insurance in place to cover these scenarios. If you're thinking about becoming a property investor, I’d love to help! And if you're not quite ready but want to learn more, I'm here for that too.
It’s also important to ensure you can afford the property using only your current income if the property remains vacant for a period of time or requires major repairs, unless you have insurance in place to cover these scenarios. If you're thinking about becoming a property investor, I’d love to help! And if you're not quite ready but want to learn more, I'm here for that too.
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