Our Founder, Zaki recently visited his family in Sri Lanka for his Dad’s 70th birthday (a country where only a small sector of the population own their own home.)
In comparison, here in Australia we are fortunate to live in a Country with remarkable market conditions – with 66% of the population now owning their own home according to the ABS.
2020 is about HOPE. A year full of opportunity, ideal market conditions and abundance for those wanting to do things differently.
Weekly we receive many COMMONLY ASKED QUESTIONS from our new clients. Below I have collated a snap-shot of these questions which may assist with your 2020 planning.
1. I HAVE NO SAVINGS OR EQUITY SO HOW ON EARTH CAN I GET INTO THE PROPERTY MARKET?
Robert Kiyosaki mentioned that “money is just an idea, and the implementation of great ideas is what creates wealth”. Zaki himself started purchasing properties with no savings or equity. One option available to you is to use our commission cashback on brand new house and land properties as a deposit to get into the property market. Many other options are now available with DDP including 100% finance or a delayed settlement.
2. I HAVE BEEN DIVORCED / SEPARATED AND HAVE LOST MY ASSETS; HOW CAN I GET BACK INTO THE PROPERTY MARKET?
It is unfortunate that many relationships breakdown. In our 9 years of running DDP Property, we have heard of many devastating situations that have resulted from separations. It is important to know that you can rebuild, and that no situation is a “lost-cause”. I encourage you to meet with our Founder to discuss your personal situation in private. Zaki himself has been through a disastrous financial divorce and using his experience has helped many people with financial challenges get back on track.
3. I HAVE A BAD CREDIT HISTORY BUT WANT TO BUY? WHAT CAN I DO?
Success is never a straight line, it’s a series of ups and downs and overall growth over time. Many 3rd and 4th tier Lenders exist to provide home loans even if you have bad credit. Why? Property offers great security for the Lender; thus Lenders are open to approving loans even on bad credit. Interest rates on bad credit are on average 1% higher than standard lending. The capital gains on your property over time will outweigh the cost of the additional interest.
4. I WANT TO BUY PROPERTY HOWEVER MY PARTNER DOESN’T BELIEVE IT’S A GOOD IDEA?
Buying property can be a major decision. Zaki’s view is that all important decisions need to be broken-down into baby steps. This ensures our Clients remain confident and understand the true value of the process, rather than getting overwhelmed. In most circumstances, we find that bringing your partner in for a short meeting or phone chat works best. We assist by explaining the long terms benefits of purchasing property, talk through all concerns, review other Client success stories, and work with your partner to show how their overall financial position will be improved for themselves and your combined future.
5. I HAVE PREVIOUSLY LOST MONEY IN PROPERTY AND UNCERTAIN OF THE FUTURE?
Did you know if you purchased a house in Sydney in 1980, the average price would have been $80,000? That same house will now on average be valued at $1.1 million. Essentially, you became a millionaire without doing anything, but holding onto the property. The same growth figures apply to other major capital cities on the east coast of Australia. Even if you have lost money in property, one thing for certain is that if you can keep it for the long term, the capital gains will eventually outweigh any previous losses. The best thing to do is to buy a property and hold it while minimising risks. Risk minimisation is what we specialise in at DDP Property to ensure you hold your asset(s) for the long term.