There are lots of different strategies, issues and opportunities that you need to understand and consider when considering building or buying an investment property. Our associated Home Loan Hero, Rob Frew from Salt & Pepper Home Loans, can help you better understand how an investment property would work for you.
Rob can provide:
As a property investor do I need to have a minimum level of deposit or equity to even consider investing?
Rob: “Most lenders will require 10% minimum genuine savings or equity in existing property before they will consider a loan for investment however we may be able to assist with an investment loan with only 5% genuine savings or equity. It is best if you come in and discuss your situation to determine your borrowing options.”
Are there additional costs involved for investing in property that customers would need to be aware of?
Rob: “There are some additional costs when purchasing an investment property such as increased stamp duty and ongoing rental agent fees etc. These would be outlined during consultation as they are dependent on the individuals situation. I can also advise customers on the benefits and cost savings of building a new investment property versus purchasing an established home.”
What is “negative gearing” and how can it work for me?
Rob: “During consultation, I can explain the differences between negative and positive gearing and with prospective properties or building plans can advise how negative gearing may impact you when purchasing an investment property.”
If you have questions about investing in a new property, arrange a consultation with experienced loan broker Rob Frew to fully discuss your investment loan options and find out how to maximise your tax benefits with property. You can contact Rob Frew on 07 4795 0977 or visit www.saltandpepperhomeloans.com.au.