334 using equity to purchase 2nd property, buy own home or rentvest, valuations + more

Emily and John answer some great questions from the m3 community! They chat about:

👉🏾how do I use equity from my property to buy another one? What’s the difference between using cash vs equity as a deposit?

👉how do I get a valuation done on my house?

👉🏿does getting multiple valuations impact my credit score or ability to get finance?

👉🏻is it better to have the majority of your debt against an investment property rather than your PPOR for negative gearing?

👉🏼is it better to have a townhouse instead of a house on land in order to pay less land tax?

👉🏿should I buy my own home or rentvest?

👉🏾how do I research areas to buy an investment property in with relation to rental yield?

How to calculate gross rental yield:

Step 1: Multiply the weekly rent by 52 to get the annual rent

Step 2: Divide the annual rent by the property purchase price

Step 3: Multiply that figure by 100 to get the percentage of the gross rental yield

Here’s the episode Emily mentioned which touches on interest only vs principal and interest loan repayments: https://player.whooshkaa.com/episode?id=896757

Here's the link for SQM Research: https://sqmresearch.com.au

Check out The Glen James Spending Plan and use coupon code "m3p" to save $20: https://www.mymillennial.money/spending-plan

Send us your questions! Use #property or #firsthomebuyer in the m3 Facebook group facebook.com/groups/mymillennialmoney

Take a look at John’s Solvere Online Academy and Emily’s online course (The Buying Coach) at the link below.

For podcast resources, links to our stuff, disclaimers & warnings about this episode + more... check out: mymillennial.money/m3pshownotes

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