Property experts say investors need to push back when they get a ‘no’ from their bank and keep going until they get a ‘yes’. Investors shouldn’t give up at the first hurdle says Dave Windler of Mortgage Supply Company, as there are funding options available to them and there’s also plenty of property experts keen to assist with strategies that work in today’s market.
Agreeing with Dave’s sentiment is Steve Goodey of PropertyTutors. He says he’s in a headspace now; after many years of investing where he quite likes hearing ‘no’ from his bank. While hearing no scares most of us, Steve sees it as an opportunity to work a bit harder, to get an even better funding deal. Experience helps and Steve’s got plenty of it. He’s been through multiple property cycles and knows he just needs to keep his investing on track even when the market changes.
There are many reasons for investor-lethargy especially in uncertain times however funding really shouldn’t be one of them says Dave. Property investing is a business yet many investors are not up to speed with what’s going on even though market events do affect them. With funding it’s important to be up to speed with rates, LVR or credit availability and anything else that can impact on funding existing and future property purchases.
Investors may or may not know they have ‘trapped equity’ and how to get access to it. Releasing trapped equity can make a world of difference to investors and the properties they purchase. PropertyTutors Auckland client, Steve knows this better than anyone he has done 16 property deals in 10 months and he says there’s still time to add more before the end of the financial year!
Meet Steve and Dave at the upcoming Property Masters event.
This blog article was written for PropertyBlogs by Mobilize Mail.