//

Property Investing Fear Buster #1: I Don’t Have The Money

Property Investing Fear Buster #1: I Don’t Have The Money

I’d like to go into some of the reasons people are afraid of investing in property. Naming and tackling fears can go a long way into taking the power out of it and helping you move past them so you can get started!

Our first fear is the fear of not having enough money.

Usually, I find that this fear in particular comes from a lack of understanding about how the finance side of property investing actually works.

 

You see, you don’t usually need cash to buy investment properties!

The only property that you might need some cash to buy is your first property, to pay for the initial deposit and costs. If you buy a $400,000 property with an 80% loan, you’d need $80,000 for the 20% deposit, and then about $20,000 to cover costs of acquiring the property.

But even with your first property, you may not need to save the cash for your deposit. If you have family members who are willing to lend you the money or guarantor your loan, or use the equity in their own property towards a loan, you can get started right away without building on your savings first.

And then with subsequent properties, you simply use the equity from your existing property or portfolio (as the market moves upwards) to pay for the deposit and costs as you grow your portfolio.

I have a fantastic relationship with money. I use it to buy my freedom.

  • Gianni Versace

So, as a property investor, the only time you might need to save your own money towards a property is for your first one! And as I’ve said before in my videos and blogs, starting from $0 and saving for a deposit is definitely possible in a short amount of time if you put the hours in and save, save, save.

Don’t be afraid of not having the money to invest in property!

ADF or Ex ADF Member? CLICK HERE
Not an ADF Member? CLICK HERE

Cheers,

Daimien J Patterson

 

Daimien Patterson is the CEO of Integrity Investment Properties, a property investment company based in Australia. He regularly produces books, blogs, and videos on the topic of property investing. Head to [integrityinvestmentproperties.com.au] for your free copy of Daimien’s book, Safe as Houses. 

Previous Post
How To Think Like The Top 1% Of Australians
Next Post
Want To Know The Best Way To Avoid Bad Tenants?

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

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.