How refinancing helped me own four investment properties

Even with multiple investment properties you can refinance but it requires a competent broker who can manage the complexity and timing

Nuttakit Leung lived in a granny flat belonging to a friend for many years. It reduced his living expenses substantially – at one stage he was living on just $90 a week. His simple living arrangement and bare basics philosophy have helped the Melbourne-based investor build a portfolio of four investment properties over just as many years. Selecting wisely

Once he realised Sydney and Melbourne were too expensive for his budget, Nuttakit looked to more affordable markets. “I bought my first investment property in Mowbray, Tasmania in the middle of 2015 for $177,500, and my second property in Bridgewater, Tasmania at the end of 2015 for $190,000,” he says. Both properties were cash-flow positive, the first earning him $130 a week after expenses. He was able to use that money to accrue deposits for further investments in Morayfield, Brisbane and Tasmania’s Brooklyn. Get startedBeing flexible

Nuttakit emphasises the importance of investing in quality assets, something he’s managed to achieve thanks to mentoring he received through Real Wealth Australia. “There’s nothing worse than purchasing the wrong property when you’re investing in real estate because it’s such a costly mistake to fix,” he says. But he advises wannabe investors to be flexible when it comes to choosing property. This doesn’t need to mean living somewhere dilapidated or unsafe, he says, but insists a little short term pain for long term gain is key as each small saving adds up. Saving $50 on rent or $20 on an electricity bill doesn’t sound like much, but over the course of a year or two, you can bank some serious cash to be used towards a property deposit. Find a dealKnowing when to refinance

Key to his success has been refinancing. At one stage, he was able to drop his interest rate by 0.35%, which amounts to annual savings of $1,750 on a $500,000 loan. Across four properties, his savings were even greater. He also made sure to manage his money in a way that best suited his needs. Nuttakit believes the best strategy is to have one loan with an offset account into which your salary is paid to reduce the interest payable. He sticks with basic redraw facilities on his other investment loans. “This way, I avoid the annual fees that come with an offset facility on other loans, while still being able to take advantage of the interest savings an offset offers,” he says. You don’t need to become a total skinflint to get ahead in property, he adds – but you do need to have a handle on your finances and stick to a budget. “By separating your wants from your needs, you can come up with a realistic budget that allows a little splurge, but still allows you to invest.” It’s important to note that the information we give here is general in nature – no matter how helpful or relatable you find our articles. Even if it seems like we’re writing about you, it’s not personal or financial advice. That’s why you should always ask a professional before making any life-changing decisions.

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John Cahill
March 7, 2024
Scott Wilkinson was my broker last year when I sought finance for a new property investment and refinance for my property port folio. He was an absolute delight to work with. He was always professional, on time and always available to talk at a moment's notice to discuss my credit options and give well considered advice; usually this was very much after-hours due to my work commitments during the day. He was always happy to talk. I had not used a mortgage broker in a long time opting to do the re-financing myself. This was primarily due to disappointing experiences I'd had with mortgage brokers in the past. However with the increasing complex nature of dealing with credit providers, I could see that I needed a good advocate to act on my behalf for this particular refinance. In all honesty I did not hold much hope that in the current credit environment I would be able to secure the finance I required for the new property investment I was wishing to secure. Scott found a way however and was able to secure the finance along with the refinance of my portfolio. I have since referred friends to Scott and I know they have been very happy with his work. He is ideal for property investors who have busy day-jobs and need someone who understands property investment strategy and is able to tailor credit advice and options to their needs. Scott provides this advice and information in a way that is clear and concise. He kept me up to date continually during the application process. He made what could have been a very stressful and frustrating process easy and straightforward. I could not recommend Scott and the team at UNO Home Loans more highly. They are all a delight.
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February 19, 2024
We chose Uno Home Loans from their impressive web site knowing we were going to find it hard, on many fronts, to qualify for a home loan. We were incredibly fortunate to be assigned Mike Parsons as right from the get-go, despite the complexities, he hit the ground running for us. He was incredibly knowledgeable, with years of experience but what was immediately apparent and impressive was that he was totally invested in getting us over the line, doing absolutely everything possible, including working around the clock. Despite it being a relatively small loan in the order of things, Mike never missed a beat, getting docs ready, following up and answering every request from the proposed funder immediately. He kept us informed on progress the minute anything happened, and again if anything needed to be done, he was right on it. In short, we highly recommend Uno, and Mike, knowing what a remarkable job he did, over many weeks, to get us our loan. He got us a great deal, with far better rates than we expected, so we couldn't be happier. In fact, without doubt, you'd be hard pressed to find a more personable, sharp, hard working, dedicated professional who clearly prides himself on getting his customers standout results.
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February 13, 2024
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February 6, 2024
Our mortgage recently came up for renewal, and with interest rates skyrocketing we were looking for ways to minimise the impact. Michael and his team were proactive and attentive. Michael spent time with us to understand our circumstances. He found mortgage options that worked with our current financial situation and longer investment plans. He presented clear options, providing guidance where needed. He and his team were helpful and responsive - streamlining the process and keeping us updated through the negotiations. In the end, Uno did the heavy lifting and secured a significantly better rate than our current bank offered, all with friendly, personal service. We would highly recommend UNO Home Loans.
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January 15, 2024
I cannot help but congratulate Scott Wilkinson of UNO Home Loans for being an absolute credit to both his company and the entire loans industry. Scott is a truly rare gem of a broker in that he will not only go the extra mile to achieve for each customer the very best deal, but his knowledge of all and sundry within the industry is unsurpassed (you will see what I mean if you speak to him). Additionally, Scott has a clear passion for imparting his wealth of information with each customer, whereas the conversation with most other brokers would simply be over if they could not get you the best deal. For me, Scott Wilkinson of UNO Home Loans stands head and shoulders above the competition and I feel privileged to benefit both from his expertise and professionalism whenever it is time for a refinance or new loan.
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January 11, 2024
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December 18, 2023
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December 11, 2023
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