How To Accumulate Wealth: The Starting Point
Individuals who aim to accumulate wealth must acquire real estate. It’s possible to grow wealth through purchasing shares and owning a business. However, real estate provides additional avenues for creating wealth.
The Australian government develops programs that help first-time homebuyers become homeowners sooner. Once an individual becomes a homeowner and starts paying off their mortgage, they start accumulating wealth on paper. Home equity is the difference between the value of the property and the amount owed on the mortgage. If it’s a positive number, it goes in favor of the property owner.
Property owners can use their home’s equity as collateral against more debt. It’s possible to build a portfolio of properties and a steady stream of income. This leads to the accumulation of wealth. Even though it’s on paper, the true profit enters the picture when the individual intends to sell.
Rental properties remain a solid source of wealth and income. If the property owner maintains their units at rental capacity, it’s 100% income.
Mortgage House works with clients that seek to become homeowners. We also work with those who aim to own one or two rental properties. In addition, we offer loan products for real estate investors.
As a non-bank lender, we have freedom, innovation, and tools at our disposal such as the home loan calculator.
Accumulate Wealth with Real Estate Conclusion
To accumulate wealth, individuals must acquire at least one property. Those interested in financing an investment property can contact Mortgage House. Our loan specialists have the tools and product knowledge to point you in the right direction.