Our Portfolio
guide to improving a portfolio’s cash position, mortgage broker

A mortgage broker’s guide to improving a portfolio’s cash position

By Bianca Dabu

After he had successfully built a 17-property portfolio, Smart Property Investment’s Phil Tarrant now aims to improve his portfolio’s cash with the help of his mortgage broker and the rest of his financial team.

A lot of property investors nowadays are finding it harder to get additional finance due to the recent changes in lending regulations put into effect by the Australian Prudential Regulation Authority (APRA) in the hopes of slowing down the rampant price growth in Australian property markets.

However, Aussie Parramatta’s Ross Le Quesne believes that, at the end of the day, lenders are always keen to loan money because that’s where most of their profitability comes from. Improving a portfolio’s cash flow position and ultimately continuing its growth depends on which strategy a property investor will choose to implement.

There are a lot of lending options available to property investors, so it’s important to know which one will save you the most money at the same time as it allows you flexibility as an investor. Work out the leverage and make sure it’s in your favor, Phil said.

In Phil’s case, Ross suggests looking into shifting from variable rates to fixed rates

According to the mortgage broker: “What we'll first look at doing is requesting pricing across lenders on a variable rate to see where we can get to.”

Three of Phil’s 19 loans are with one lender. His highest interest rate with the said lender is 5.74 per cent while the lowest is 4.9 per cent. The property investor and his financial team are now looking into shifting those three loans into a fixed position at 4.4 per cent, which can save them $7,500 annually over a three-year period or $22,000 in total.

Ross said: “We've highlighted what potential savings we can do with fixing the loans … Obviously, [this] lender … is a no-brainer [and] that is something that will get in place straight away because the savings that we're going to have there [in staying in that lender] by switching to fixed [interest] is something.”

Aside from that, Phil can also consider drawing equity out from his existing properties or refinancing his mortgage.

“It [will be] just be a wait and see … what [the lender] come back to with a variable rate and then we decide what we're [going] to do,” the mortgage broker shared.

At the end of the day, it’s all about prioritisation—which strategy will have the biggest positive impact with the least amount of work and time?

Phil said: “We should be concentrating on [where we could get the biggest savings] … There's another lender here [and] we have five loans with [them] … If we do the same rating, we're going to save ourselves $800.”

“It's not [too bad but] right now, there are other priorities ahead of it … There's some savings there but it's not as considerable as [the others]. That's what we'll get sorted,” he added.

Value added by mortgage brokers

It’s understandably hard to make decisions about mortgages and interest rates considering all the numbers and negotiations involved, as well as the cash flow at stake, which is why finding a reliable property professional is instrumental to an investor’s success. According to Ross, while being a mortgage broker entails hard work, it’s fulfilling to be able to add value to someone’s wealth-creation journey.

He said: “It's great being able to show someone that, ‘Look, you could potentially save over $25,000 a year by just making some simple tweaks.’ ”

“It just shows the importance of regularly reviewing your portfolio ... You just need to make one phone call and we can look at all of them rather than having to do it yourself and call around your six different lenders and then work out the best option,” the property professional explained further.

While some investors still choose to deal with banks and lenders directly, it’s worth noting that 54 per cent of all new loans are now done by brokers—a 36 per cent growth over the past decade.

Phil said: “Obviously, what brokers are doing is beneficial for borrowers … I wouldn't be doing this if I didn't have a broker [because I don’t] have the time, effort, and bandwidth.”

Since mortgage brokers encourage regular home loan health checks, progress can be a seamless process especially with the help of the rest of the financial team.

“We also need to bring in other people who are part of this team that we've put together to help us invest in property—our accountant, [who can view this] … from a taxation growth strategy perspective ... and buyer's agents, [who will consider] our appetite for continued borrowing capacity to invest in properties,” the property investor shared.

Phil and Ross’ final advice for property investors: Take responsibility for your mortgages. Makes sure that you consistently review your loans in order to make sure that it’s still the most appropriate choice at any given time based on your personal financial situation.

Get in touch with your lenders, either by yourself or with the help of professionals, so that you know when to revise your interest rates and ensure that you’re getting the most competitive rating possible.

 

Tune in to Phil Tarrant’s portfolio update on The Smart Property Investment Show to find out how you can stay ahead of the game when attempting to get a loan from banks and lenders for a property, how a shift from variable rates to fixed rates could impact your portfolio, and how the future plans for your investment can impact the loan you require.

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podcast

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Promoted by Blue Ink Finance.

Budgeting tips when your Personal Debt is High.

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Credit card debts and personal loans are the greatest obstacle between everyday people and their potential to live in financial freedom.

Of course, I understand that sometimes getting a small personal loan is absolutely necessary. Unexpected costs like medical expenses can make personal loans the only option.

However, the majority of us have debt simply because we spend more than we earn.

In either case, your number one priority is unlocking those chains of debt that are holding you back.

I’m going to give you some tips for budgeting with hefty personal debt, but first I want to talk about the impact those loans are having on your life.

How much is your debt really costing you?

Over the years that you’re paying off your loans at the minimum repayment, the interest on those items will end up costing you multiple times more than the original borrowed amount - and those endless due dates will haunt you. There’s no freedom in that!

Let me give you an example. You’ll be shocked, I guarantee it!

Let’s say you have around $4,000 of credit card debt, charged at 19.99% p.a. If you paid only the minimum monthly amount, it would take 37 years to pay off the total debt.

How much will that $4,000 debt cost you? $19,200. Depressing, isn’t it?

You might feel like you need a full-blown money explosion to get out of debt, but don’t despair just yet.

What you need to do is arm yourself with a strategic budget, and I’ve got some tips to help you.

Budgeting while you have hefty personal debt is tough, but possible – and it’s essential for eliminating that debt forever. Let’s have a quick look at how you can start to tackle that mountain of borrowed money.

It’s time to take charge and break some chains!

There’s a method for reducing debt that has an excellent success rate, if you’re committed:

  1. Make a realistic budget (and stick to it)
  2. Reduce your expenses and/or increase your income until you are in the black
  3. Save an emergency fund first
  4. Pay off your personal loans and credit cards, starting with the either the smallest debt first or the debt with the highest interest rate
  5. Revise your budget as you go along.

Why an emergency fund is paramount to success

You’ll see I’ve put saving an emergency fund before paying off your loans. Even a small amount initially, like $500, is enough to stop the cycle of borrowing to pay bills, then paying out even more in interest each month, which leaves less in the bank to pay the next bill.

Once you have a buffer saved, then you can start aiming some serious firepower on your debt, and that’s when it gets exciting!

Think back to my credit card example. If you upped the payments each month from $84 per month to $212, you would have the card paid off in two years and save $14,285 in interest. That’s worth a little bit of effort, wouldn’t you agree?

Tips for a budget that works

You may need to cut back drastically on your expenses to clear your debt, but here’s some other ways to make the most of your budget:

  • Find micro-ways to reduce your expenses every day. Make work lunches at home, cancel a pay TV subscription, find a better phone deal, or pass on your afternoon chocolate bar from the vending machine. Instead of spending $40 on a takeaway dinner, have a bowl of cereal!

  • Find a friend who will keep you accountable. Having someone else who shuns a pricey outing to the day spa for a walk along the beach instead will make you feel better about saying ‘no’ to expensive events that will blow the budget.

  • Refinance your home loan to release some funds. If you have a mortgage, talk to us at Blue Ink Finance about the possibility of refinancing your home loan to allow you to release some equity to help clear your high interest, personal debt. It’s not always the best strategy, but it’s worth investigating, especially if you can consolidate it into a home loan that has a significantly lower interest rate.

  • If your income increases, leverage it! The only place that extra money should go is into paying off more debt. Enough said!

  • Refine and polish your budget as your circumstances change. Your budget shouldn’t stay the same. As you find more ways to decrease your expenditure and become adept at sticking to your financial plan, fine-tune your budget to reflect your savvy saving. Any spare change goes directly onto your debt.

  • Automate payments of bills, so you don’t spend the money first. This saves you from late fees if you forget, too.

The reality is that you won’t have a profitable budget until you get rid of that high-interest debt. The beauty of a budget is that it can get you there! Knock the debt, stay away from borrowing except for assets like property, and you’ll have a well-oiled financial plan that kicks goals instead of paying lenders!

At Blue Ink Finance, we have a team of expert brokers as well as a panel of industry experts that understand all the nuances of positioning your personal finances to kick real goals with Property Assets and can support you in achieving your goals.

Give the team at Blue Ink Finance a call on 1300 888 796 or click here to request your Complimentary Finance Review with one of our experienced Finance Coaches now.

And see how having a panel of industry experts on your side, can fast track your property goals.

About The Author

David Wegener
Chief Executive Officer
Blue Ink Finance

Who I am, and why I want to help you succeed.

As an award-winning Mortgage Broker with nearly 20 years’ experience in the finance industry, I’ve seen it all.

I’ve gone through constant industry changes and yet I still successfully help my customers borrow the money they need to get ahead.

As a Finance Coach, my goal is to help you understand your financial potential so that you can borrow with confidence.

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Leveraging your Blue Ink Finance Broker for more than just a loan.
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With the softening market impacting property values in many parts of Australia, Sally Dale, Opteon state director for NSW, ACT and Qld joins us to discuss the importance of valuations in the current property market

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Joining host Phil Tarrant, Sally will draw on her 25 years of experience in valuation and discuss the processes involved in arriving at a value for a particular property. She will also share how that process differs between commercial and residential properties and the difficulties which regional property valuations can present.

Sally will unpack the importance and cost of regular valuations on your properties, discuss whether presentation and owner input can sway a valuation and share what you should look for when seeking a reputable property valuer.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

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AREAS MENTIONED: 

Sydney
Brisbane
Adelaide

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Can property presentation result in a higher valuation?
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A softening market can be a difficult time for a property investor with finance approval tightening and property capital growth slowing, and while many real estate agents are also feeling the squeeze McGrath Brighton Le Sands' Bill Tsounias claims it is simply the market returning to normal.

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In this episode of the Smart Property Investment Show, Bill joins host Phil Tarrant to share his thoughts on the current Sydney property market, and to share the shifts that he has seen in house and unit sale prices following their worst quarter in the past decade.

Bill will unpack why properties are spending longer on market, share what he believes property investors are doing wrong when trying to sell their properties and share the secrets to getting the best out of a real estate agent and an auction in the current softening market.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

RELATED AREAS OF INTEREST:

Why I still buy in Sydney
Property market update: Sydney, July 2018
Sydney rental market slowing, latest research finds

AREAS MENTIONED:

Revesby
South Hurstville
Sans Souci
Strathfield

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Top 100 ranked agent Bill Tsounias shares the secrets to getting the best deal in a softening market

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