Investment loans | Mortgage Broker in Doncaster, Templestowe, and Eltham
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What is an investment property?
An investment property is a property purchased to generate income, generally through renting the property to tenants or selling the property at a higher value. It can be a very great investment opportunity if done correctly, however, there are pitfalls to be aware of.
Investment loans differ from home loans as they are typically associated with higher risk in the eyes of lenders, typically resulting in higher interest rates and/or stricter lending criteria.
As your mortgage broker, Anshul is experienced in the world of investment properties and knows all the tips and tricks in the property market to ensure that you’re getting the best bang for your buck. If you’re interested in seeing how Anshul can help secure your next investment property, book in today.
What makes a property worth investing in?
Properties can be perceived as good investments quite easily; it all depends on knowing what to look for. Looking at a property with foresight in mind is essential, alongside a thorough knowledge of quotes and estimates for certain repairs, if necessary.
Certain key features of a property to look out for when investing are:
- Location - is the property close to schools, public transport, beaches, and entertainment venues?
- Security - is the property in a condition for tenants/potential buyers to feel safe?
- Condition - are repairs required, or is the property in suitable condition as is?
- Cultural/development plans - are there any plans for the area to receive new developments in the next few years?
Keeping these factors in mind is always a great way to ensure that your investment property doesn’t fall flat.
If this is my second property, do I still have to put down a deposit?
In short, yes, you will need to put down a deposit for a property, even if it’s not your first. With this in mind, there are ways to compensate for deposits if you already own a home.
If you already own a home, you are more than likely to have built up some equity over time. Equity can be utilised to assist with purchasing further properties, such as investments. However, it isn’t as simple as it may seem.
That’s where Anshul comes in - as your mortgage broker for Doncaster, Plenty, and Diamond Creek, Anshul can outline all your options clearly and guide you through the process of obtaining your next investment property in a way that’s suitable for your circumstances.
Book in today and start your next property’s appreciation today.
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