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Owning a real estate investment at minimum rate is too good to be true!

Have you ever imagine yourself owning a property at a lower cost? Do you think it is possible for you to acquire a property even if you have a low salary? Perhaps, it’s hard for you to believe in it. Well, you are so fortunate because you are in the right page where we can share to you effective options to consider in property investment with minimal cost.

We will give you some helpful strategies and ideas that may guide you and answer your question like “How to invest in property when you only have a small amount of income?” We all know that when you invest a property it means that you are also making money. But we believe that this may require us to raise a large amount of money that may lead you to find other choices.

Are you excited for these options? First of course we need to learn how to manage our income. We need to save at least 5% or 10% deposit from our salary that you may receive may be enough for the property agent to realize that you can manage to pay.

You may also need to use your existing asset. You may mortgage your property to the bank as collateral so that you can borrow a certain amount of money to purchase a property. This will also provide you more than 80% of the value of another property without being subject to LMI (lenders mortgage insurance) because the new loan may be secured against the existing asset. To provide a solution on the needed amount of available asset in your home simply calculate the value of your property minus the existing debts against this property.

Don’t forget to seek professional financial advice before using your family home as a collateral. Because you should remember that you need to have an extra care because as you can see may have the possibilities of losing both properties. You also need to take the full advantage of the costs. This may increase your monthly commitment to the loan and adjust your monthly budget.

How about buying a property with a partner or a co-owner? Just make sure of the co-ownership agreement because rules and contracts are very important.

Another is you might as well think to own a property by saving someone’s financial distress. You may need to look for somebody who is currently having an issue of paying their present mortgage. When they sell their property now, they are not going to have much money left or even run the risk of losing money. And when you offer them to pay for their outstanding debt and take charge of their mortgage, you will surely get the property. Call for a lawyer immediately for a contract and agreement and this strategy will allow you to have a full control but not ownership and enjoy all the financial benefit of an investment property.

Now are you still hopeless that one day, you may have your own property investment in Australia? Hope not. We hope that we have given you enough ideas on different approaches that you may use in order to successfully invest in a property despite of the minimum amount that you have. Lots of choices are available and the final decision is now in your hand. All you need to do is consider all the possible consequences and advantages that you may encounter in the future. For more tips and guideline, you may visit our website http://www.property-investment-consultants.com.au/  and sign up to avail of our free e-book.