All Topics / Help Needed! / My first property

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  • Profile photo of thebiglachiethebiglachie
    Participant
    @thebiglachie
    Join Date: 2020
    Post Count: 0

    Hey guys,

    looking at getting in the game but just gathering info and research

    im looking at becoming financially free the earliest or safest way as possibly

    i had someone advise me to do a interest only loan for 7 years to make the most positive income and gain equity. But I do realise after this time the repayment will be higher but then I’ve been told to do a refinance for another 7 years.

    i have multiple questions once let’s say the equity goes up after 7 years would it be best to refinance for interest only or to go P and I? After 7/14 years equity goes up would it make sense to sell and if I was too would the debt be for the initial purchase price?

    any advice about this or anything in general would be hugely appreciated

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi there

    Welcome aboard the forum and hope you enjoy time with us.

    I have given a number of interviews to the API magazine about how i started and built my property portfolio.

    Feel free to shoot me an email and I would be happy to send you the article.

    Cheers

     

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    100% Investment Finance now available on selected properties. Email us for further information.

    Profile photo of thebiglachiethebiglachie
    Participant
    @thebiglachie
    Join Date: 2020
    Post Count: 0

    Yes I would love that!

     

    cheers

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    No problems.

    Cheers

     

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    100% Investment Finance now available on selected properties. Email us for further information.

Viewing 4 posts - 1 through 4 (of 4 total)

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