A recent study showed many Australians are experiencing mortgage stress big time.
Mortgage stress is said to be, when a family is spending 30% or more of house hold income on loan repayments.
And, there some suburbs in Australia where it’s epidemic.
For example, 1 in 5 home owners in Woolert – a battler’s suburb in Melbourne’s North are in mortgage stress.
Also, hit in Victoria are the suburbs of Roxburgh Park, Cranbourne West and Burnside Heights.
Meanwhile, in NSW’s the west Sydney suburb of Chullora is experiencing high levels of Mortgage Stress, as is Greenbank in Brisbane.
In many ways, Sydney siders are the worst hit, because property prices are so high. One estimate suggests that Sydney siders are spending up to 40% of their income on property loans.
And as the AFR Notes: “If interest rates rose while wages growth remained flat, borrowers might not be able to afford their loan repayments…”
This would be catastrophic for 1,000’s of families, and of course for the banks as well.
It’s’ also common for us property investors to feel the pinch. I spoke to a lady a couple of days ago who had 4 of her properties vacant at the one time.
She was in serious financial stress!
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However, as property investors there are many ways we can ‘beat the bank-loan blues’ and create new rivers of cashflow into our life…
For example, this lady managed to double her cashflow on one of her properties by renting it out through Air B and B.
And, she was also doing a Reno on one of her properties to increase her rental income. So, there are certainly options.
If you want to discover how to boost your cashflow…. Come along to Multiple Stream of Property Income, because you’ll discover at least 17 strategies to do that.
For example, you’ll discover:
- How to potentially get 4 incomes – from the one property deal. What sort of properties to buy to for this amazing cashflow result.
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- How to get properties at up to $60,000 below real market value. See real examples of deals done recently…so you can easily spot them.
- Smart real estate finance strategies for today’s market – So you can potentially still fund a successful portfolio…even if you’re on a lower income, or don’t have a large deposit.