How many people do you know that have built their retirement plans by investing in property?
Probably not many. If you think of all the people you know, you will be lucky to count about 5 in 100.
That is why we have a retirement funding crisis. Many of our BabyBoomers should be called BabyDoomers because that is what their retirement will be like, Doomed. Big plans but not enough money to realise them. They have been led down the path of “your Super will be enough”.
The reality is, it won’t be enough and some sort of Government handout is inevitable. Just so they can survive.
There is an alternative though for those who have time to plan and want to take action.
How can you use your Equity to create wealth for a comfortable retirement for yourself?
First of all, what is equity?
It is the difference between what you own and what you owe the bank. Let’s say your home is worth $500,000 and you owe the bank $250,000 then you have 50% Equity in your home equal to $250,000.
You can use that equity in your home for many things like:
- Renovate the existing home
- Pay for a Holiday
- Buy a Car
or for the most important one:
- A Deposit to build wealth in Property
Of course, you could always try and save up for the deposit for a second property, but as you know this will take a very long time. It will often take many years whereas you already have the equity in your own home that will give the banks sufficient security to start now.
The sooner the better. Time is money. It’s an old saying but it is true.
Just inflation alone of 3% will see a property double in value in 24 years. So with 6% growth, you will see a property double in value in just 12 years. You’ve seen it happen. You’ve heard the stories. You know that properties go up in value over time. But not all properties at the same rate and not all areas offer the same opportunities. That is why getting the right guidance, advice and coaching can be so critically important.
So why don’t more Australians use the equity in their home to build a property investment portfolio?
The reasons are many but the main one is the lack of knowledge and good advice. Fear of the unknown or fear of loss are another two big reasons for inaction. So they can be eliminated by good education from qualified Property Investment Advisors.
Investing in Property can provide a lot of benefits, such as:
- Financial Security
- Build long term wealth
- Produce rental income (passive Income)
- Minimise tax liabilities
- Property values increase over time
- Help meet your retirement objectives
- More money for your future plans
Simply put, your home property will act as security for an Investment Property. The banks know that they are a safe investment and will lend accordingly. They may even allow you to borrow the full amount of the Investment and costs as well. So don’t sit back like so many, take some action, learn how it can possibly work for you. Start building your property portfolio sooner than later.
How to unlock the equity in your home?
There are many questions associated with taking this course of action, so before starting on any journey it is always a good idea to plan by asking someone who can guide you through the process.
At Priority Invest we have helped hundreds of people achieve their objectives and shown them how they can start investing sooner than they thought.
If you want a piece of the action? – Click Your Freedom Starts Now