Question:

I've been to several banks and they all say I can't afford an investment property. Where do I go from here?

by Guest729  |  11 years, 1 month(s) ago

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I've been to several banks and they all say I can't afford an investment property. Where do I go from here?

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  1. Guest729

     It's quite common to find people turned down for a property investment loan, even though they feel sure they can afford it. Don't be disillusioned if your first approach to a bank is unproductive. It's up to you to prepare a budget and an assets/liabilities statement to not only assure yourself that you can do it, but also to assure the financier. In some cases, the financial institution won't have taken the tax refund into account, and this can make all the difference. Don't stop at the first "no". The great American baseballer Babe Ruth failed to get to first base just as many times as he hit a home run. Continue until you find a manager who will listen.

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