One of the most common questions we get asked as mortgage brokers is "how do I get to 10 properties?"
Whilst this might be unrealistic for many, there's a lot of disingenuous advice out there on this topic, so we wanted to provide some realistic advice for building a multi-property portfolio.
Owning a property portfolio of this size comes with its risks, and it's certainly not for everyone. But, if you're one of those property investors with big dreams, you'll need a sturdy, realistic roadmap to get you there.
Our award-winning mortgage broker and property wealth planner Shehan Wijayasinghe takes you through his 10 best tips for financing 10 properties, including how to leverage your own equity and what type of loans can help you borrow substantially.
Whilst we're not property or investment experts, we can offer advice on how to finance your journey, so please reach out if you have any questions.
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0:00 Introduction
0:46 1. Matching the type of property to your income level
2:17 2. Cross-collateralise your properties
3:23 3. Choosing properties with a healthy rental yield
4:16 4. Being honest with yourself
5:09 5. Tipping in as much as you can when you start
5:55 6. Getting comfortable paying LMI and having a high LVR
7:00 7. Generating cash flow from day one
7:48 8. Alternative documentation loans
8:31 9. Understanding debt
9:02 10. Sticking to the plan
9:35 Conclusion