How the Government Bought Me a Property & You Can Do It Too
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- เผยแพร่เมื่อ 19 ต.ค. 2024
- Hey friends! This is How to Save Big on Your First Investment Property in South Africa
In this video, I’ll help you understand what it takes to buy your first rental property with no money at all! I show you how you can save big on your first investment property even with bad or no credit. I compare two scenarios and calculate the savings, so you can see how much money you could be making.
Here are the steps to save big on your first investment property:
Qualify for the FLISP subsidy: The FLISP subsidy is a government program that can help you save up to 10% on the purchase price of your first home.
Choose the right property. When you're choosing an investment property, it's important to choose one that is in a good location and has a high rental yield.
Get a good mortgage deal. Shop around for a mortgage deal that will give you the best interest rate and repayment terms.
Here are the savings you could make:
FLISP subsidy: Up to 10% off the purchase price of your home.
Lower interest rate: A good mortgage deal could save you thousands of rands in interest payments over the life of your loan.
Higher rental yield: A property in a good location with a high rental yield can generate more income, which can help you pay off your mortgage faster.
Total savings: You could save tens of thousands of rands by following these steps.
Watch the video to learn more about how to save big on your first investment property in South Africa.
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Rental yield guide:
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All content on this channel including this content is for educational and entertainment purposes ONLY. Note that, these are Yvonne’s opinions, not that if any institution. Yvonne on this Yvonne, Freely channel does not provide professional tax, insurance or investment advice. The information is being presented without consideration of insurance, tax and or investment objectives, risk tolerance, or financial circumstances of any specific investor (individual or institutional) and might not be suitable for all types of investors. Please remember that, past performance is not indicative of future results; and that ALL investing involves varying degrees of risk, including the possible loss of principal. Please consult with a registered financial advisor and investment specialist advisor.
I am about to a house with my subsidy. And listening to this really helped me into really buying it because I was hesitant of buying the house
All the best! It’s worth it 😊
Which country are you talking about please?
Thanks for watching and seeking clarification. This example is for South Africa but the same applies to the US (homebuyer.com/learn/first-time-home-buyer-grants-programs) and UK (www.gov.uk/first-homes-scheme) and many other countries with first time-home buyer subsidies/grant programs. Hope this helps! 😊
Hi, I hope you're well kindly advise is the housing subsidy only works on "new house buyers" or even if I already have a house ? Notsure if I have missed the answer on your previous post. I'm a security officer and have a house which I bought couple years ago while I had a better job and now I have lost my wife last December (passed away) I want to save this house because for kids.
Great question! It’s only for 1st time home owners so you will not qualify if you already have a property. Check out flisp.co.za/index.php?option=com_content&view=article&id=1&Itemid=309 for more detailed information. All the best 😊 … and thanks for so much for watching. Please consider subscribing too!
What if I am earning R11 000 and I get an increase. What will happen to the subsidiary? will it go down
My understanding is that salary changes won’t affect your subsidy because it’s front-loaded and can’t be reversed because you’ve moved into a different tax bracket. All the best on your property journey! 😊
Apparently you need to have a dependent is it true ? I dont have kids but my mom is solely dependent on me but what proof does one put forward ?
Hey! Thanks for watching and subscribing, welcome to the smart money gang 😊. I am not a FLISP advisor but all the information I used was from this site flisp.co.za/index.php?option=com_content&view=article&id=1&Itemid=309 and the FLISP Brochure (that’s online). When you start the process the FLISP representatives will help you through from start to end and are very helpful! All the best with your property investing journey! Let me know how it goes 😊
So if your gross is more than R22K, are there any other subsidies that we can qualify for? 😢
You know, I still haven’t found any subsidies for above 22k earners. I will share if I come across anything worth exploring. 🤗
Are you on TikTok?
Hello! Thanks for stopping by. Yes I am on TikTok, 👉🏾www.tiktok.com/@yvonne.freely or check the link in the description.