It Is Possible To Invest In Property Given The Current Market?

Are you wondering if it’s really possible to invest in property in the current market?  Here I’ll share with you a lovely couples journey that we helped make their first investment property purchase possible.  Already being clients of Living Home Loans, Matt and Chloe were super keen to become property investors, but they really had no idea what it all entailed.  Buying their first property was a really big step for them.  This was achieved with the support of a family guarantee.  Within a few years, the value of their home went up, so they were easily able to release the family guarantee and stand on their own.

The idea of buying an investment property made them feel like it would be a next level grown up thing to do.   But also a very wise one, however scary it all seemed.  The couple have two very young children and they are fortunate to live in their ideal location of Coolangatta on the Gold Coast.  They started to dream of setting their children up with a property each for their futures.  So they started taking the property market seriously and looking at how to purchase their first investment property as the necessary start.

They contacted Living Home Loans and talked to their broker Kirsty.  Matt and Chloe let her know their thoughts on refinancing their current home to get a deposit out for the purchase.  They also had to discover if they had enough borrowing capacity for a potential investment property.  In addition they wanted to do some minor improvements to their current owner occupied home.

Happiest of Days

It didn’t take long to find that they could refinance their owner occupied home with a much lower rate than what they were currently on.  They would also get a $3000 cash incentive by the bank for refinancing with them.  And the real gold was that they could also get enough cash out and servicing to buy their first investment property!  Happiest of days all around.

Matt and Chloe didn’t know how to tell whether something was a good buy or not, or even where to begin with buying an investment property.  It was very different than buying their owner occupied family home.  They voiced their concerns to Kirsty as there really did not seem to be much around.  Kirsty helped them to clarify the differences and the importance of ‘the costs and rental income’ when buying an investment property.  She was helping other LHL clients who were purchasing a property that was ‘off the plan’.  This was in an Eco development which had just released the first stages of development for sale.

The Perfect Fit

Kirsty helped with some more research into this for Matt and Chloe who realised it was a perfect fit.  The property was looking to be a great investment with likely increases in value, good rental income and depreciation benefits on offer.  There were so many boxes that were ticked by this property that when Matt and Chloe considered the whole picture, they were blown away.  They knew they had to dive in and it was an opportunity not to be missed.  Mind you, this was all happening during lock down.  So the decision to purchase a property over the QLD/NSW border was made without even seeing the location or display house.  These were odd days indeed.

All was smooth sailing as Living Home Loans continued to offer guidance through the loan process.  They helped with contacts for the development via the other clients, and connected them with a trusted conveyancer too.  The numbers were still quite confusing to the Matt and Chloe, especially since there were several things happening at once.  This included the refinance, cash out, the deposit and the new purchase.  They had to be prepared well ahead with finance for when the ‘off the plan’ would be complete.

Confusing Numbers Made Easy

Kirsty spent the time (well many times) to go over the numbers and explain all that it could entail.  The team at Living Home Loans helped Matt and Chloe to work out how the money coming in and going out (including the repayments) would cover everything.  It made Matt and Chloe feel so much more at ease and confident with what they were stepping into.

Matt and Chloe knew that the Living Home Loans team ‘had their back’ and they had what was best for the clients in the front of their mind. This is something that Living Home Loans is well known for.  Their broker to client care experience is a long term relationship.

The young couple are currently planning the improvements on their home while they wait for the investment property to be built.  They are both looking forward to this new journey ahead and the promise it brings for their children.  They have further goals of purchasing another investment property each year, for the next few years if possible.

To say Kirsty and the LHL team’s help to date has been life changing is an understatement.  These are words from Chloe herself.   We are so, so happy to be the brokers they chose to walk with them as they build their property portfolio.  Baby steps and good planning we say, can lead to great things in the world of property.

If you’re considering investing in a property, the best thing to do is book a call in with us here.  You could also check out our ebook which explains all things investment.  We look forward to making those dreams of yours come true!

Have you got a dream?

Have you got a vision to own property that we can help you with?

Give us a call on 0439 110 255 or contact us today for an appointment.