Aaron WhybrowGeneral Manager, Strategic Mortgage Broker

Build your investment property Living at home with parents

Name: Build your investment property Living at home with parents
Uploaded: 2022-10-14T02:18:59Z
Duration: 1 min 30 s
Channel: Aaron Whybrow
Description: Aaron Whybrow (YouTube) explains how people living at home with parents can still build an investment property portfolio. He describes how banks…

14 Oct 2022 · 2 min

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1:30

Aaron Whybrow (YouTube) explains how people living at home with parents can still build an investment property portfolio. He describes how banks typically treat rental/board expenses in lending assessments—commonly using benchmark figures such as $650 or $500 (some use actual bank-statement amounts like $200–$300/week). He notes that certain lenders will remove a rental/board expense for self-employed borrowers who have lived at home for greater than five years, which can increase borrowing capacity and enable approvals for vacant land, construction, and additional investment properties. The clip ends with a call-to-action to contact Aaron for lending strategies.

Questions this video answers

$650, $500, or values in between; some lenders use actual bank-statement amounts (examples given: $200–$300 per week).

Greater than five years.

Are people investing and still living at home? Hey, it's Aaron here. I've got a few clients recently that we've got approved that are living at home with their parents and being able to invest their money into different areas. It might be developing their business, it might be just their investment portfolio. And when it gets into this area, the banks do like to try to accommodate that. There is some rental expense or board expense. So a lot of the banks will either use $650, $500, anything in between. Some will use actual numbers if there's anything in the bank statements, like it could have been 200, 300 a week on the board number. But there are some banks that if you are able to stay at home with minimal to no expense, that we can remove it. So if you are a person that is self employed, developing a business, trying to develop a career, buy an investment portfolio and you are living at home and you've been doing that for greater than five years, we have a bank that will supercharge your borrowing capacity by removing that rental expense. So we've got clients that are being approved right now for vacant land and also for the construction to be able to build their investment portfolio and another that's on their way to getting the third, fourth and fifth property property as well, getting some lending strategy and moving that forward for them in a positive way. Hey, it's Aaron here. If you are looking to build your investment property, reach out today.