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My Property Investment Tip #32

February 9, 2021No CommentsCliff Borlasa
How To Pay Your Loan Off FAST!
My Property Investment Tip #32
 
Method 5 of 7. Turn Your Surplus Rents Back Onto Your Home Loan
 
Ready for the next tip? This one applies once you have more than one property.
 
Two key points to remember about the mortgage on your own home, verses those on your investment properties.
 
1. YOU are responsible for paying it off (not tenant income to use), and
 
2. The interest charges are not tax deductible.
 
So… one of the reasons most investors will have all their investment loans on interest-only, is so that they can put the maximum amount of cashflow towards their own home loan.
 
Why pay off any tax deductible debt, before you clear any deductible debt. Quite simple really.
 
As the rents on your investment properties climb, they will become more & more cashflow positive. Leaving you with a surplus every month.
 
Use that surplus to smash your original home loan. As time goes by, that surplus will get greater and greater, and the speed that you pay off the original home loan will increase dramatically!
 
Btw… if you would like a positive cashflow investment property or two, in a capital city location, right next to a massive infrastructure investment hotspot, I know a guy 😉
 
So if you still have a mortgage on your own home, you will find that using your spare cash/equity to buy a few investment properties, will actually pay off your home much faster than just slugging away at your existing mortgage with what’s left of your work income. Work smart, not hard.
 
– Daimo

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Daimien Patterson is the CEO of Integrity Property Investment, a property investment company based in Australia. He regularly produces books, blogs and videos on the topic of property investing, helping thousands of people create financial security and freedom through education and property investment. Get started today.  

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Legal Disclaimer: This information ('the information') is presented for illustrative and educational purposes only. It is not presented nor should it be treated as real estate advice, legal advice, investment advice, or tax advice. All investments involve risk and potential loss of money. If you require advice in any of these fields you should contact a suitably qualified professional to assist and advise you. Your personal individual financial circumstances must be taken into account before you make any investment decision. We urge you to do this in conjunction with a suitably qualified professional. Daimien Patterson, IntegrityX Enterprises Pty Ltd, and their associated trading names, companies, researchers, authorised distributors and licensees, employees and speakers do not guarantee your past, present or future investment results whether based on this information or otherwise. Daimien Patterson, IntegrityX Enterprises Pty Ltd and their associated trading names, companies, researchers, authorised distributors and licensees, employees and speakers disclaim all liability for your purchase decisions. You should do your own independent due diligence and seek the advice of qualified advisors before making any investment decision.

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