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Many people think that if you have an interest only loan, that your
loan won't reduce.
Right?
 ..........
Wrong!
Right
if your listen to the banks and use their methods but what I'm going to
reveal to you is a hidden secret that I have used myself with my
Investment Properties and the loan amount reduces every year.
When you tell the bank "Interest Only", they mean interest only, they
will calculate the figures and make sure that in 10 years time you still
owe the same amount you started with.
Let me share this little secret that is going to help pay your
investment off with out increasing your monthly payment.
My Investment properties are all "Interest only loans", so the loan
should not change at all right?
 The way I've set
them up, is that I pay them on a weekly basis and not on a monthly basis
as the bank would prefer me to make.
All I did was tell the bank I wanted to pay the "Interest Only"
investment loan on a weekly basis, please note-some banks will not give
you this privilege, run a bluff and tell them that you may need to take
your loan to another bank that does offer this service.
When you do have a loan set up that allows you to make weekly payments
you will need either a "Line Of Credit" or a savings account to operate
this correctly.
Plus you may also need at least 2 months of loan payments in the
account.
Why 2 months?
Just in case you have a tenant that cannot pay his rent for a month,
this is going to be a back up for you just in case of this or any other
emergency.
Now that we have the loan set up and you are paying the loan weekly,
what are you doing now??
You're
not just paying interest on the investment loan you will also be paying
off some of the principle, helping reduce your loan.
When paying your loan monthly you are accumulating the interest portion
and the loan itself will start to accumulate interest upon interest, by
paying the loan weekly you actually start paying off the principle
instead of interest.
For people who have no mortgage on their home, they can start to use
the rental, wages, tax benefits for investment and still make the loan
payments weekly.
If you would like to have a chat with me or one of the Finance
Specialists I use please
click here
fill in your detains.
Here is a program that I highly recommend for you to use.
http://www.npis.com.au/investment-property-loanint.html |
Forget
What Your Doing and Lock The Door, This Tip Should Be Read And
Understood Clearly As It Could Save You Years And Thousands Of Your Hard
Working Dollars.