Author: Carla

Tax time is approaching again! Was that a groan? We understand. If you’re like most property investors, trawling through receipt upon receipt to tally up your allowable deductions is probably not your idea of fun. So, as tax time looms we wanted to share our pre-tax time checklist to help make things just a bit easier for you. Organise your receipts and records It’s time to dust it off that shoebox of receipts and get your paperwork in order. If you discover the ink on some of the receipts has faded, keep in mind that you can use a bank statement as evidence of when the purchase occurred. It’s a good idea to sort the expenses into various categories, such as strata levies, rates and water charges, property management, and maintenance and repairs. Creating a spreadsheet or using an expense...

Is your home loan making you feel broken-hearted? Is your home loan provider loyal to you?   Loyalty is an admirable quality in any relationship. But is your devotion to your home loan provider justified?  It’s important to review your home loan from time to time. We’re here to check the interest rate, review it's features and make sure it’s still giving you everything you need and desire. Here are some tell-tale signs that it may be time to part ways with your current lender and start afresh with someone new. Your home loan is getting old Without suggesting you go on ‘Home Loan Tinder’ and start ogling a new lender every week, we have to say the days of staying with the same one for 30 years are long gone. If you’ve had your home loan for more than two...

Credit in Australia is changing due to the Banking Royal Commission, changes to lending practices and the introduction of Comprehensive Credit Reporting. It is more important than ever to know how credit fit you are before applying for a home loan, personal loan, or anything credit related. If you have ever completed a half or full marathon, you would know that you had to prepare for the event months in advance.  You would have a fitness plan leading up to the event so that you knew you could complete the marathon within a certain time frame.  Obtaining a home loan also requires preparation and planning, particularly if it is your first home purchase. Below is your six-step plan to ensure you are credit fit. 1. Understand your credit score Comprehensive Credit reporting (also known as Positive Credit Reporting) came into...

Everyone looks forward to Christmas and the summer holiday season. After all, 'tis the season to be jolly.  To indulge in festive fare.  To get out in the great outdoors and enjoy quality time with family and friends.  But it could also be the right time to buy a home.  Here are 5 reasons why clever property buyers are considering making a purchase after Christmas during the holiday season. Motivated Sellers Spring is one of the busiest times of year in Australia's property markets.  That's when all the buyers are out in force and vendors have the best chance of getting their price.  If a vendor is still trying to sell come summer, they're often highly motivated - or even desperate - to get a sold sticker on that notice board. This year, spring auction clearance rates were lower than they've...

When done right, investing in property can help you to build long-term wealth, and who doesn’t like the idea of an additional income stream? (Imagine what you could do with that!). The really great thing about property investing is that just about anyone can understand the principals. If you’re thinking about building wealth for your future this way, here’s a step-by-step guide on how to go about it. We’ve kept it super simple and you’re bound to have questions, so please give us a call at Wyze Finance to find out how we can help you make it work! Step 1: Talk to us about your borrowing power The first step involves a friendly chat with us about the finance set-up. We’ll run through your personal financial circumstances and help you determine your borrowing power - which is the amount...