Leading Australian mortgage broker Chris Bates and property buying expert Amy Lunardi kick off the first question and answer (Q&A) session on The Australian Property Podcast.

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On this Q&A episode of The Australian Property Podcast:

* “Invest in land, they ain’t making anymore!” — does that even make sense?
* On an investment property, should I use a principal and interest (L&I) loan?
* Which financial advisers, brokers, agents or accountants can actually give advice on property?

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FINANCIAL INFORMATION WARNING

This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.

Full individual disclosures for each guest are available via the show notes page. Owen and The Rask Group Pty Ltd do NOT receive anything for mentioning Super funds, products, shares, bank accounts, etc.

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When it comes to investing in property, there are many questions that may arise. Two common questions include how to manage P&I on investment property and where to seek financial advice for property.

Firstly, P&I stands for Principal and Interest. This refers to the two components of mortgage repayments for investment property. The principal is the amount borrowed to purchase the property, while the interest is the cost of borrowing that amount. Therefore, P&I on investment property is the regular payments made by the investor to decrease the amount owed and pay for the interest charged by the lender.

Managing P&I on an investment property requires careful financial planning. Investors need to budget for these regular repayments, ensuring that they are made in full and on time. Some investors choose to set up automatic repayments to ensure that they never miss a payment. It is important to remember that missed or late payments could result in the lender taking possession of the property, so it is essential to manage these repayments carefully.

Secondly, when seeking financial advice for property investment, it is important to seek unbiased and professional advice. This may be from a licensed financial adviser or from a property investment specialist. They can provide advice on the best financing options, tax implications, and investment strategies. It is recommended that investors seek advice from several different sources to ensure that they are making informed decisions.

There are many ways to access financial advice for property investment. Investors can attend investment seminars and workshops, engage a mortgage broker, or speak to their bank or financial institution. It is important to do your research and choose a reputable and experienced adviser who can provide tailored advice based on your individual circumstances.

In conclusion, managing P&I on investment property and seeking financial advice are two important aspects of property investment. Investors must carefully manage their repayments to avoid defaulting on their loan and losing their investment. Seeking professional financial advice can help investors make informed decisions and maximise their returns.