Sian met with YRHM to review her current financial situation for any possibility of purchasing a residential home for herself and if not, a newly built land/house investment (to maximise on tax savings). Sian had 2 children who were now independent, rented her current residence, had savings and full time employment.
After obtaining some financial details from Sian, YRHM advised it wasn’t possible “today” for her to acquire a loan to purchase a home in the area she wanted. However, it was possible to (a) be a rent/vestor, of possibly more than one newly built investment property, with the future aim of having savings that have increased and equity in any investment properties, or (b) build an investment property in your self-managed super fund. YRHM continued to work on finding solutions in these 2 areas for Sian however, her employment was then reduced to part time and despite completing a course to enable better future full time employment, Covid interrupted any possible work options, thus reducing her chances for finance options.
YRHM will always continue to look for options as a choice for clients, but some are also offered via relationships with professionals in various industries. A real estate agent colleague surprised YRHM with an unexpected option for Sian. Sian is now the proud owner of newly built investment property in a great suburb Melbourne, at a very good low price and has already received very good equity growth, immediately tenanted and is positive cash flow, so more income for Sian. YRHM has a plan with Sian to refinance this loan very soon to receive cash back from the lender along with a more competitive interest rate. Sian is now in a good financial situation with equity in her investments and her now full time employment and will begin to review her options with YRHM for further property purchases