Purchasing an investment property that already has a tenant means you collect rent from day one, with no vacant period and no lease fees to find a new tenant. The lease just carries on as it did before you purchased the property. Sound good? Of course it does. There are some possible problems to be aware of though. It’s very important to check whether the lease on your prospective investment is current or the tenants are on an expired lease. If the tenants are off-lease, they can give a short…

You are ready to buy a home, you just need a mortgage. Before you go rushing off to meet with your local finance broker, be sure that you have a few documents on hand to prove your identity, income, assets, and liabilities. Identity You will need two of the following three: passport; driver’s licence; and photo identification, such as a university identification card or proof of age card. If you don’t have two of these, you can also provide one, plus a birth certificate, Medicare card, citizenship certificate, or similar…

The Australian Government has set up certain Schemes and Grants that would help first-time home buyers to achieve their dreams faster. Government first home buyer schemes can be categorized based on whether the buyers will be eligible for Nationwide schemes or State-Specific Grants. Let’s get into the difference and inclusions between the two! 1. National Schemes a.  Home Guarantee Scheme It is a government initiative to help Australians achieve home ownership by removing the requirement of paying Lenders Mortgage Insurance (LMI). The scheme now includes two guarantees. First Home Guarantee…

When you’re revamping your home or investment property, the right doors can make all the difference. The idea is to find a functional yet affordable door that adds interest and makes good use of light. Every renovation decision, regardless of whether you’re looking for the right doors, the ideal benchtop, or even smart landscaping solutions, boils down to one primary factor – the cost versus value. “You need to ask yourself: does it add more perceived value than cost, or is it low or no return item that is going…

Securing a business loan in Australia isn’t necessarily difficult but knowing how to navigate your way can be the difference between success and failure. 1. Work out what is realistic Find and compare credit options based on the amount of money you need to borrow, how you want it supplied, and the type of security you want to provide (residential, non-residential, or none at all). 2. Do your research It’s not only okay to shop around for the best conditions for you and your business, it’s expected. So the next…

Is the key to saving a home deposit as simple as giving up smashed avo toast for breakfast? Well not quite, but spending less does make a difference. On top of a budget, a savings plan and strategies such as a high-interest savings account, an effective way to save is to reduce or eliminate expenses. Start by understanding your spend It can be easy to lose track of how you’re spending money, especially due to cashless payments and credit cards. Many online banking systems include tools to categorise debits and…

Refinancing your assets to renovate a property is a significant decision that will hopefully improve your standard of living or add substantial value to your property. Refinancing isn’t as straightforward as you might expect. The type of renovation proposed goes a long way to dictating the loan required. If the wrong loan is chosen, you could be left with a pile of unexpected debt. Know your budget Before considering refinancing, you need to have a clear idea of your budget. If you underestimate your budget, you run the risk of…