I had lunch the other day, with a budding young property investor.
He was about to make a big property boo-boo that many investors make.
He had $70,000 to invest.
So he’s done a great job saving that money at such a young age.
And he’s got a big goal of becoming a net millionaire by 25.
He was going to buy a property with a yield of about 3.9% in a high growth potential area of a major capital city – with a price point of around $600k.
It’s a good area….that I think will do really well.
The challenge is if he went ahead and did this deal…. the banks would have put the brakes on his lending for years….
Which would have stopped him from accumulating enough assets to get to his goal.
When I explained this too him and pointed him in another direction– that would potentially allow him to accumulate a much bigger portfolio in the same time period – he quickly understood.
But, he’s not alone.
Every day, property investors do deals without fully understanding how it will affect them for their next purchase….
Don’t be one of them!
Attend this free property webcast on Friday night and discover how you can structure your portfolio…so you can potentially buy property, after property, after property….
Discover how to ‘lubricate’ your portfolio so you can get finance for multiple cashflow and growth properties – even in today’s tight lending market. Attend this free live webcast