Many property investors are not aware of the current value of their property and as a result are unaware of the equity they hold in their property.
By utilising the equity that you have in your investment property, you may be able to purchase another investment property and in some instances with no or little additional out of pocket expenses.
Accessing the equity in your loan is easy. With a simple mortgage refinance, you can be steps closer to buying a second investment. The equity from your investment property can be used as a deposit on a second property, while your current property becomes a security on the new debt. Using equity allows you to buy a second property with no cash deposit.
When the value of your home rises, the equity does too. A home's value may rise because of capital growth or dedicated mortgage payments. You could also increase the value in your home by making renovations (though you will need to consider the costs of materials and labour to do this).
Simply call us and we can arrange a market appraisal to assess the value of your current property. We can also arrange a confidential chat with our Brooker who can assess your lending eligibility. We are here to help and want to able to assist you in growing your property investment portfolio.
If you'd like to know more, contact us today on casey@c21newcastle.com.au or 02 4928 7400. We're on hand to make your path towards investment property success as stress-free as possible.