DOES THE BANK
NEED ALL PROPERTIES AS SECURITY?
It’s wise to keep
your loan-to-value ratios under 70% to obtain the highest interest rate
discounts.
But there’s no
point giving the bank any more security than it needs.
CAN YOU CONSOLIDATE LOAN ACCOUNTS AND/OR CLEAN UP YOUR STRUCTURE?
If you have multiple loans that relate to one property or
investment, you should consider consolidating them (if it doesn’t require
cross-securing your loans).
Also, it's cleaner to have your loans secured by the
property they relate to (if equity allows).
These options are typically available to investors that have
held their properties for a while.
RealRenta
has all the tools that a property manager has but for less than ¼ the cost
of a property manager.
Join now
and the cost is less than a cup of coffee a week to manage your rental
property.
RealRenta
also has a free vision, so why not check it out.
Jason Gwerder
Thursday, 6 April 2023
