YO U R I N V E S T I N G
Seven Steps to Wealth Turbocharge your money with these guidelines for investing from financial adviser Andrew Armstrong of Lighthouse Financial.
1.
Take that first step Try getting a ‘gift’ from mum and dad, going in with family or friends, and foregoing KiwiSaver as a deposit to purchase an investment property instead of a home. All these are strategies you can use to speed up the process of getting your first step on the property ladder – and if you’re just starting out, working with a professional can help. That way, you can get the right structuring advice early, to protect your wealth for the future.
2.
Adding value for capital growth Renovating houses is a tried-and-true way of adding value that can then be used as equity for your next purchase. You can reduce the cost of renovations by doing some of the work yourself, or pay the professionals to do it. But whatever your strategy, it is important to consider what you are doing, how much you are spending and the value that it will add.
3.
Find lenders that work for you Taking the leap towards your first investment property can be a straightforward process if you have the equity. But what if you don’t quite have enough equity, or, what if this is your second or third investment property? Working with a mortgage broker to split your lending across more than one bank can mean the difference between an investment property and multiple investment properties.
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INFORMED INVESTOR |
SUMMER 2021
www.lighthousefinancial.co.nz
