After 20 years of arranging finance for clients in Australia and having worked through the turbulent times of the last couple of years it is obvious to me that the days of the Multi-Property Investor being able to grow a portfolio of over 10 properties in a short space of time is behind us.
While this is a lengthy sentence it speaks volumes about the changing face of Property Investment.
Why would I write a sentence like this? Well in my business I have a large number of Multi-Property Investors who are looking to add more. Today it is certainly not as easy as it was before. It takes patience and planning. I am finetuning my view on how to plan your borrowing approach to be able to secure the necessary finance for a growing portfolio of property.
While it is being reported that Australia is expecting some tremendous growth in property values we have a definite lag in our incomes to be able to service an increasing debt load to finance the opportunities. Nor have we the lenders with the product options available to meet this demand.
Sure 1 in 7 taxpaying Australians own at least one investment property. Our shortage of housing across the country is meaning that many recognise that they would like to buy more property, do they have the ability to borrow for these opportunities.
Let’s pause here to clarify that I am not trying to portray a doom and gloom picture.
Rather Planning in Property investment requires some very clear advice. Advice that might be to buy another investment property every two years for the next ten years and then to diversify into other modes of property investment like some minor redevelopment (splitting a large house block into two smaller ones is a good example).
While this is a great strategy the practicalities of how to finance these was easy to plan for up till the advent of the global financial crisis. Now however a lot of the finance products that were used before to achieve this have been either withdrawn completely or policies have restricted their effectiveness.
This means that is vital to have a ongoing relationship with a trusted Mortgage Broker who understand your situation and understands your future goals. Firstly you need to know they listen to you and also you can here from them when they are working for you to source the appropriate lending options to meet your ongoing needs and goals.
In the current lending climate your future plans need to have a degree of flexibility to be able to adjust to the variables associated with accessing finance for your goals as planned.
I listen, clarify and then make suggestions as to the approach to financing your property investment plan. Ian Franklin
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