Using Your Equity
One must accumulate as many assets as quickly as possible in order to accelerate the accumulation of wealth……
Our team has had great success in buying properties at the right price in the right location. Several team members have taken advantage of the increased equity in their property value and used it to finance the purchase of more properties.
Not sure what your properties are worth? An independent property valuation carried out by a qualified property valuer will be an invaluable way for you to assess the value of your current property portfolio. Once done, you are then in a great position to make an informed decision on your next steps with your property investments.
We all want to obtain as high as possible valuation on our properties, as the higher the valuation, the more lenders will lend to us using the property as security. We suggest you provide clear instructions to the valuer and make sure they are fully aware of the reason you require the valuation. You can even ask them if they hold a position on any of the banks/ financial institutions panels. This could be handy in the future as usually a bank will accept a valuation conducted by a valuer on their lending panel….and of course make sure you understand what their fees are.
Do some research yourself (it’s easy now using the internet and local papers), so you have an idea of what price ranges you expect the valuation could come in at. The valuer will conduct an on-site visit to the property, carry out research on the local market and compare similar properties. Ask the valuer to contact you prior to them completing their report. This gives you the opportunity to discuss the findings, ask questions and provide your supporting evidence if you believe the valuation does not meet your expectations.
You may be pleasantly surprised by how much your investment property has grown in value. You never know ….. .you might be in a position to use your increased equity to acquire your next investment property much sooner than you thought …..Allowing you to accelerate your wealth accumulation plan.
Have YOU had YOUR properties valued recently?
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Property Friends is a specialist Property Investment Strategist that provides solutions for people aspiring to financial independence, choices in retirement, or leaving a legacy. www.propertyfriends.com.au (03) 9758 5331