Investment Loan Application Mistakes Must Avoid

Two Investment Loan Application Mistakes You Must Avoid

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It’s in a growth location. And you think it’s going to generate a high yield from the moment you put your first tenant in place… 

All that’s left is to get financing.

That’s where a lot of investors struggle… 

In the current climate, it’s pretty tough to get an investment loan. 

Just one mistake on your loan application could ruin your chances.
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If you can avoid these two mistakes, you have a better chance of getting your loan.

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Mistake #1 – Not Checking Your Credit Score 

With services like Experian and Equifax available, there’s no excuse for not knowing your credit score.

It’s crucial that you do… 

Almost every lender will look at your score as part of the application process. 

And if they don’t like what they see, you’re getting the big thumbs down.

Don’t waste time on an application if you have a bad credit score.

Lodging too many applications in a short period will only make it worse….

Instead, focus on clearing what you can. 

Repay as many debts as possible and focus on making on-time repayments for the rest.
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Mistake #2 – Failing to Shop Around

Comfort is such a dangerous thing.

You’re probably feeling pretty comfortable with your current lender….

After all, they gave you a decent deal on your main property… 

So it’s easy to assume they’ll do the same again for your investment property… 

Plus, sticking with them means less work for you…

But there are hundreds of investment loan products out there.

If you’re not shopping around, you might miss out on a product that will save you thousands of dollars over the length of the investment.

Don’t stick with what you know.
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Take the time to find a deal that’s going to help you achieve a positive cashflow from the outset.

In fact, if you need help to find a savvy mortgage broker, just send us an email and we can point you in the right direction. 

(Finding a good broker is in our opinion one of the absolute keys to setting your strategy up for success)

And once you’ve found the right loan, it’s time to get focused on investing.
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This is where Dashdot comes in. We’ll help you find the high performance properties that unlock the door to the future you’ve envisioned.

We invite you to take our 15-second application, to see if we’re a good fit, and to start taking action on your High Performance Property journey.
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“Thanks to Goose and Gabi, I was able to clearly understand the strategy required to set me on a path to financial freedom. This strategy has become an action plan, and their ability to find the perfect deals to suit my goals is absolutely amazing. I can’t thank them enough!”
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“The knowledge, care, and guidance provided by Gabi and Goose gives us every confidence that we will be able to replace our income in the next 5 years”

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“Analysis Paralysis was stopping us from taking the next steps, even though we both talked about how we never felt we’d get out of the ‘rat race’. Thanks to dashdot, we’re finally on that journey to the life we’ve been dreaming of!”
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“I always thought I knew what I was doing when it came to property investing, but after working with dashdot, I realised I was only ever speculating… These guys have really shown me what it means to invest intelligently, and to make a property work from day one”
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“I’d pretty much resigned to the fact that I would never own a home, let alone an investment property portfolio. Dashdot helped me come up with a strategy that will help me leapfrog into buying multiple properties in only a few years. I feel like my whole future has changed – I couldn’t be more excited!!”
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