How a Client Became Mortgage Free in 5 Years Through Property Investing
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- เผยแพร่เมื่อ 15 ต.ค. 2024
- Hang was frustrated. She was pulling serious overtime hours but still only earning around $50,000 per year. During conversations with mortgagehq, we asked her, “looking at your home’s increase in value, what would owning another property mean for you?
She had an immediate lightbulb moment.
She was thinking that she could hold that second property for a few years, then sell it to pay off a large chunk of her mortgage. The fastest way to get mortgage-free is to rejig your life so you can make dramatically bigger payments.
The next question we asked her, “What if you could own 3 more? Instead of just an extra 1?”
Watch the video to see what happened! The video includes a timeline.
I hope you enjoy the video and are inspired by Hang's story.
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Disclaimer: This video is for entertainment purposes only and is not financial advice. Opinions in this video are general in nature and are not a recommendation, opinion or guidance to any viewer in relation to acquiring or disposing of a financial product. Viewers should not rely on these opinions and should always seek specific independent financial advice appropriate to their own individual circumstances.
You both are amazing. I bought a new built as my first investment property. After wasting time with one broker now I am waiting for second one to get me the approval. Wish i found you guys earlier.
I think the formula has changed. First, it is super hard to find a property for 334k (and that gives you 400 per week). Second, even if you do (I have seen a few in the regions close to that), at the current interest rates of 7% , with interest deductibility removed (cause that's definitely not a new build), this won't necessarily be cashflow positive, after paying rates, insurances and most probably some repair/upgrade (a house that cheap won't be a 2010 brick house with double glazing and an new roof :) )
Not hard at all in regional towns btw, but you'll probably be buying a unit or crosslease property
Very interested to know how she has gone with interest rates being as high as they are now. Has she had to sell any of them?
This story is so good. Very moral boosting.
What an inspiring story! I am now on my own journey of investing in properties. Cheers
Wooo! 🎉 Best of luck on your journey! We are here to help if needed 😄
Great work team!
Do you have service in South Island, I’m from Christchurch . Me and my wife planning to buy an investment property, but not sure what to do with the new tax rules.
We work with clients all over NZ.
South Island seems to still be affordable. Have been thinking of moving to Invercargill or Wesport. Which one of those two you think is better? More thinking of security (which probably is not an issue in either), weather (i heard Invers is cold and windy), climate (lots of flooding in Westport). Probably that, the rest, amenities and all, we don't need much. Work remote. Wife teacher and pregnant, so will be on leave for the next 3 years. Thoughts?
Thanks for sharing the great story. I want exactly what she did. I had a mortgage broker but he does not have a lot of experience so I need someone who can guide me or plan the strategies to become a property invesrtor.
Thanks for sharing Blandon!! Really good stuff
Glad you enjoyed it!
That's awesome! I love what you said about migrants having hustle. I love migrant hustle mindset so much.
Good on you guys for working hard for that woman. A lot of advisors don’t want to put the work in. She did really well with her purchases. More people should understand the power of leverage and property to achieve their financial goals. Some educated risk for so so much benefit. She would have had to work the rest of her life and still probably wouldn’t have paid her original mortgage off. Well done
It would be nice if you could include the actual purchased price of all the properties and what her income is. Since this person is anonymous, I don't see how that would be a problem. Just need some numbers to make sense of it. I can't imagine being on 5 figures allows you to even buy a 180K property in the first place, then continue buying properties pretty much year after year. Seems made up and something isn't quite right.
It won't even help. At this stage, with prices and interest rates the way they are, the formula has completely changed. Add to that the interest deductibility issue and the healthy homes standard, you will be lucky to find a property that breaks even these days. I guess anyone buying an investment property atm is just speculating on capital growth. Money in the bank could easily give you 5 to 6% with zero work and zero risk. While mortgages are now going to 7%. I am selling my one, it is gonna start to bleed money when my fixed period expires in September...
Hi where is the link to the "How to Buy Your Second Property using Equity?"
th-cam.com/video/DneC-0vYVzw/w-d-xo.html
is she single?
Does she needs love ?
Me love u good time
FIRST BRUH
Maaaa man!
Blandon idk what's going on with you today but you should watch how you pronounce your plurals brother, you keep saying them without an "s" on the end
The truth is... my English is bad hahaha I’m slightly better with spreadsheets...