Yes, it's true. You can buy an Investment property without using a cent out of your own pocket...that's why banks were invented. The key ingredients to Investing in Property WITHOUT using your own money are:
1. If you already own a property and have at least 20% equity in it and have a great
relationship with your bank, they will lend you all the money you need.
relationship with your bank, they will lend you all the money you need.
2. The tax man will help you pay the property off, on a weekly basis.
3. Lenders Mortgage Insurance. We don't like using them but sometimes it's the best
way to get started. (This insurance protects the bank, not you).
way to get started. (This insurance protects the bank, not you).
4. If someone in your family already has a home where the property value is say
around 20% higher than the loan amount, it won't cost them a cent to help you.
around 20% higher than the loan amount, it won't cost them a cent to help you.
5. Your accountant will make sure the numbers add up BEFORE you buy a property.
6. Your Conveyancer will make sure that the paperwork is correct, for your peace of mind.
Good Debt is debt that will provide you with wealth in the future and it's tax deductible.
Bad Debt is a loan that is generally for lifestyle purposes...Holiday, car or even to pay bills with. This sort of debt is NOT tax deductible and is therefore a burden that does NOT contribute to your future wealth.
Simply click on the money house to see if we can help you.
You CAN Buy Property Without
Using a Cent Out of
Your Pocket!
You will have to meet specific criteria in order
to do this...as a result, you may not qualify.
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