Loan Repayments Reduction Tips

If you are at all like me, you probably don't have enough money to pay for the entire price of your target investment property. Consequently, one of the steps you have to take is to take out a mortgage from a financial institution.

Your mortgage or interest payments will be the largest expense you will have in your property investing journey. So it is worthwhile investigating what actions you can take to reduce these repayments to make sure your investment is profitable. Below are a couple of tips I've seen/read on how to reduce your loan repayments.

• You can save more on your loan interest if you pay weekly, even fortnightly, as oppose to paying monthly. Ask your mortgage broker if this is an option for you.
• You can save even further if you make extra repayments. A $50 extra repayment made monthly can make a $10,000+ difference on your loan interest on a 25-year loan.
• Ask for a loan product that has a provision for an offset account. This can save you a lot on your interest payments.

Have more tips on how to reduce your mortgage/interest repayments? Write a note on the comments section. Till next time

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Resources:
iTunes App: tapMortgage Australia

Step-by-step Process of Buying Your Investment Property

I've been trying to find a step-by-step process one can follow in investing in properties. What I will be doing is I will search for procedures in books, magazines and other sources and try to consolidate what I've been learning in this post. Consequently, this means this post will continue to evolve as I learn.

Below is a process one can follow in investing in properties. This is basically an outline. Details will be provided on succeeding posts which will also be linked to/from this post.

1. Identify what you want to buy.
2. Search for properties in your area that fit your criteria.
3. Assemble your team of professionals.
4. Educate yourself on the values properties in your area.
5. Find a good deal.
6. Negotiate the price and have your offer accepted.
7. Do your full due diligence.
8. Simultaneously, have your financed approved.
• Loan Repayment Reduction: Your mortgage or interest repayments will be largest expense you will have in your property investing journey. So it is worthwhile to investigate means to reduce these repayments to make sure your investment is profitable. Check out the tips I found to reduce your mortgage or interest repayments.
9. Exchange contracts with the vendor.
10. Take out insurance.
11. Appoint your property manager.
12. Settlement.
13. Tying up loose ends.
14. Post-purchase management.

Hope this information helps. 'Til next time.

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Resources:
Become a Property Millionaire in Your $pare Time by Mark Kelman

Why am I starting a blog on Australian Property Investing?

I know there are lots and lots of property investing websites out there where people will benefit more from, be it realestate.com.au, your investment property or something else completely different. It is not really my intention to compete with any property website for reader share or be the property guru everyone looks into for advise. I doing this to document what I'm learning and doing on a more public manner for three reasons:

1. I learn better by involving more senses;
2. Seeing this is a public platform, I feel the pressure to think about what I'm posting and make more research before I make it viewable for everyone's consumption; and
3. I was hoping that you (yes, you reading this blog) will interact with me and join me in this property investing journey. 

So just read on. Maybe one day, we will see each other on one of those property investment seminars, trying to learn more about this terrifyingly exciting journey I am about to embark. So there. Let's begin!