Obtain independent advice before you arrange the finance for your next property purchase.
No matter how informed you are or how good a loan might seem, discuss the loan structure & your options with a property lawyer before committing to the loan.
Tip 12 – Some Basics You Already Know:
- Keep separate financial records for every property
- Keep your financial records organised so you can act quickly when an opportunity or threat arises
- Know which debt is deductible & which is not deductible and don’t mix or contaminate the loans
- Ensure that all non-deductible debt is repaid first before paying deductible debt
- Understand when to have an ‘interest only’ loan instead of a ‘principal & interest’ loan
Disclaimer: The above is to be considered as general education. This is not advice and it is not to be acted upon without advice from a qualified professional who understands your personal circumstances.