For those who are looking to make the most out of their current property, there are 3 additional strategies to consider
- Refinancing and relocate additional cash for investment
- However, there are of course factors you will need to consider
– If you have the necessary cashflow from rental or other sources to cover the installment during the refinancing period
- Work out the numbers and see if the capital you get from the refinancing for reinvestment justify the refinancing cost; and if there is any contradiction on repayment timeframe vs your reinvestment period
- Do the risk analysis on worse case situation
- Property upgrade
- It might be a very old property that you have renting out for lower income level tenants to a newly renovated apartment to tenants who are looking for better living standard but comparatively lower market rate then property which are newer but of similar renovation like your new ones
- If you focus on low tiers rental income group, check if it legal to rent the place to corporate as part of the low tiers staff accommodation (preferably longer rental period) or to a number of students as student accommodation.
For both of these cases, it will require first checking out with lawyer and renovation cost required. So you will want to do your number before you act.
At the moment, I am working on the worksheets and case studies on this, if you want it, join the waitlist here and you will be notified once they are ready.
For those who have yet started or looking for additional opportunity
- Look for low mortgages rate
- Look for high financing facilities
- Look for projects that include your renovation cost as part of the package
And if you would want to know exactly where and how me and my partner did the deals in 2020 and how you can potentially do the same, sign up the webinar here.
