Is it better to pay off your investment property?
Better cash flow
Paying off your investment property mortgage early will save you lots of money.
Once you pay off your mortgage you will have extra space in your monthly budget.
And if you are a real estate investor, you will increase your rental income.
How can I pay my rental property off faster?
The Rental Debt Snowball Plan
- Save cash for down payments.
- Purchase several income properties using conservative, low-interest loans.
- Save 100% of the real estate income plus extra savings from a job.
- Use all savings to apply towards one of the loans each month until one loan is paid early.
Can I use my super to pay off my investment property?
A: You can indeed use your superannuation to purchase an investment property, whether it be a residential or commercial property. With a SMSF you are able to invest from a wider range of investments than other super funds, however, there are very strict rules around investing in properties.
How long should you keep an investment property?
Investing in property is best as a long-term investment strategy. At Investor Assist, we recommend a minimum of five years, and preferably seven to 10, to be a suitable timeframe. Buying an investment property involves substantial upfront, ongoing expenses, and exit costs.