The secret to taking control of your finances
The main reason people struggle with their finances is because they do not separate personal and investment income and expenses. It is vital that your home mortgage, living expenses and personal income is kept totally separate from investment property debt, expenses and rental income.
This strategy forms a huge part of Think Money clients˙ success with property investment. Having the right finance platform and advice means most are not only on the path to 10 properties in 10 years, but don’t have any investment costs coming out of their personal funds.
Having a self-funding portfolio doesn˙t require investing in higher risk, positively geared properties. Conservative properties that are negatively geared are just as easy to manage in the right system.
Going over and over this information is how it eventually gets through to the keeper. Focusing on your financial strategy and watching it move in the direction you want it to is a great reward for the hard work and being focused.
Lynn Levitt – Think Money Wealth Coach and Goal Mapping Expert.