Real estate is a hallmark of Australian wealth. But not everyone has the ready cash to buy a property. One way to acquire a property for possible rental business is through an investment loan.
Here are the benefits of getting a loan for property investment:
- You can quickly buy a property instead of saving enough money which takes years
- There’s no need to worry about mortgage repayments if the rental income is higher than loan repayments
- If you have chosen a good location, the value of the property will increase, providing you with more equity (or money if you sell)
- Some investment property taxes can be claimed back at the end of the year in the form of rebates
- You can use your existing investment property to get another mortgage so you can scale up your rental business even without the ready cash