It’s Q & A Day, folks!!
Off the back of last night’s webinar, “7 Deadly Sins of Building a Property Portfolio” we’ve got plenty of questions leftover that we reckon are going to help you with ALL THINGS LOANS and INVESTMENT LENDING!!!
Before it kicks off though … we’ve got a BIG announcement (well, big news for Bryce!!)… so make sure you keep an ear out!
So, we’ve got SIX questions to get through, which will help you in avoiding poor loan structure and more importantly, your planning stage of building a property portfolio!
Question from Mark:
I have a PPR mortgaged at the moment, as does my girlfriend. We wish in the future to turn both into investment properties and buy a further property to live in long term. Should we be spending money doing any works to the properties that we currently live in? Or should we spend the bare minimum and save every cent for our “together” house?
Question from Laudy:
I thought they’d changed the PPR loans and didn’t allow interest only loans anymore — how can this be done?
Question from Dean
Can you use equity in your investment properties to wipe out your PPR mortgage?
Question from Chris:
I understand the concept of “tapping into property 1’s equity” but HOW do we do it? Is a Line of Credit an appropriate method? Is this with the same bank or a different bank? Thanks guys, appreciate the help!
Question from Matt:
In the case studies it shows the debt on investment properties being paid off over time. When do you switch from IO to P&I? Should you refinance after 5 years to extend IO period as long as possible or switch to P&I when your cash flow allows?
Question from Shanki:
Regarding loan structure, can I use the equity from 1 property to pay the deposit for 2 separate investment properties? Is it similar to collateral?
p.s. Here are all the links for today’s podcast!
- Wants to join Bryce in his new TV Show, Escape from the City? Click here to apply for the spot!
- Here’s the link to Bryce’s Mindset Minute Article: Read the article here
- Interested in Ben’s webinar on the Impact of Interest Only Lending? Watch it here.