The tax act states that the interest on investments can be offset agains tax. In other words if you refinance your own home (primary) and you use that funds for investment property then that portion of interest you will have on your primary can be used to offsett your cost (mortgage interest) as per normal as its now in the production of income. Please note its only that portion and not all the interest on your new entire home loan. Hope this helps!
Hi Rowan, would love to get some insight on buying a second rental property - is it possible to add a second property to an already existing bond (thus saving on registration costs for another bond) or do I have to register a new bond for every property I would like to buy? What options are available or would you suggest? Thank you for your videos - very helpful.
Great content thanks so much. Is there a way maby to open a property company to collect the rentals insted, then “sell” the properties to this company to acess funds and allow to purchase more properties on the company then?
great advice. Would one have to apply for a new mortgage/finance if you want to extend the loan period. eg. from 10 years to 20 years ?or can you just apply for longer terms on the current bond?
Even when you buy through a company, the bank will look at your personal affordability, especially if the company does not have any significant assets and income.
I thought the refinance strategy was definitely gonna make me a real estate guru! I'm so disappointed but I'm grateful for the insight man thank you
Of course!
For a young man like me this is overwhelming i love watching your videos
We are happy you are enjoying watching our videos. Keep it up!
The tax act states that the interest on investments can be offset agains tax. In other words if you refinance your own home (primary) and you use that funds for investment property then that portion of interest you will have on your primary can be used to offsett your cost (mortgage interest) as per normal as its now in the production of income. Please note its only that portion and not all the interest on your new entire home loan. Hope this helps!
Hi Rowan, would love to get some insight on buying a second rental property - is it possible to add a second property to an already existing bond (thus saving on registration costs for another bond) or do I have to register a new bond for every property I would like to buy? What options are available or would you suggest?
Thank you for your videos - very helpful.
Great content thanks so much. Is there a way maby to open a property company to collect the rentals insted, then “sell” the properties to this company to acess funds and allow to purchase more properties on the company then?
Hi Rowan, When signing surety for your businesses to purchase Property, Does it reduce your affordability in your personal capacity?
great advice. Would one have to apply for a new mortgage/finance if you want to extend the loan period. eg. from 10 years to 20 years ?or can you just apply for longer terms on the current bond?
We really learning a lot n have lots of questions
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I think this is the case when you buy property in your own name and not through a company.
Even when you buy through a company, the bank will look at your personal affordability, especially if the company does not have any significant assets and income.