Equity: The Power Within
As Bryce explains in Money Magazine’s Special Edition issue, using the equity in your existing property allows you to invest without chipping into your own savings and takes the time spent saving for a deposit. Basically, after you release the equity, you can use it to purchase an investment property. It’s the process of buying a home with an investor’s mindset!
Not only does Bryce explain exactly how to go about this process, but also he includes a checklist for an equity strategy, a pros and cons list, tips and a case study to demonstrate how releasing equity can build your wealth, allowing you to retire with a passive income for life.
Enter the property market straight away by following these steps:
- Set up an investment facility
- Get pre-approval for the purchase
- Use line of credit to pay for the investment property
- Provide these funds at settlement, making sure to leave a buffer in place
- Match “capacity” with intent
- Start immediately
- Use “your money” for household expenses
- Make “lazy” equity work
- Get tax deductions
- No deposit needed
- It’s easy money
- You don’t have as much cash to spend
- Your home is collateral
There are risks involved unlocking the power within. However, with the right advice—a professional team on your side—you can minimise these possibilities by sensibly using your equity.
- Don’t make poor asset choices—pick an investment grade property
- Don’t overcommit financially—get a detailed cash flow done
- Don’t let the banks be in control—stay in control with the help of a mortgage broker
- Don’t forget to get income protection—seek the advice of a qualified financial advisor
- Don’t do it on your own—get a team of professionals to support you
Release your power!
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